As 2024 approaches, the macro policies of China's economy have become the focus of widespread attention. According to Tencent News, the latest Politburo meeting set a clear direction for economic work in 2024, emphasizing "seeking progress while maintaining stability, promoting stability through progress, and establishing first and then breaking down", and reiterating the importance of counter-cyclical and cross-cyclical adjustment of macro policies.
Economic policy in 2024 will focus on two main areas: fiscal policy and monetary policy. In terms of fiscal policy, it is expected to increase support for the real economy, manufacturing, science and technology enterprises, green development and other fields, while optimizing the structure of fiscal expenditure. Monetary policy will continue to maintain reasonable and abundant liquidity, and support scientific and technological innovation and the development of private small and micro enterprises.
On a more concrete level, policy in 2024 will place more emphasis on the "quality" of fiscal policy and the "flexibility" of monetary policy. This policy heralds more precise and effective measures to promote economic stability and growth. For example, a proactive fiscal policy will be moderately strengthened to improve the effectiveness and efficiency of fiscal spending, while a prudent monetary policy will be more flexible in adapting to the needs of the economy and responding to internal and external changes in a timely manner.
What is particularly noteworthy is that the meeting put forward the requirements of "enhancing the consistency of macroeconomic policy orientation, strengthening economic propaganda and guidance". This shows that China not only pays attention to the implementation effect of policies, but also attaches importance to stabilizing market expectations and maintaining stable economic development through communication and information dissemination.
Looking ahead to 2024, China's economy is expected to continue to grow steadily with the support of these policies. The main drivers of the economy are expected to come from services, high-end manufacturing and infrastructure investment. At the same time, we will continue to promote the optimization and upgrading of the economic structure and promote high-quality development.
In addition to the adjustment of domestic policies, the international situation will also have an important impact on China's economy. In the context of the complex and volatile global economy, China will need to actively respond to external challenges, such as friction and global market fluctuations, while stabilizing the domestic economy. Therefore, economic policy in 2024 will not only focus on the domestic market, but will also take into account the impact of the international economic environment on China. In short, China's economic policy in 2024 will continue to emphasize stability and forward-looking, focusing on policy coordination and effectiveness to promote steady economic growth. **On the basis of ensuring economic stability, we will strive to promote the optimization and upgrading of the economic structure through various policy tools, and promote the development of China's economy towards a higher quality development.