4月政治局会议传递的信号：备足预案保持定力

Group 1: Economic Context - The meeting emphasized the need to strengthen bottom-line thinking and prepare sufficient contingency plans due to increasing external shocks, particularly in the context of significant global changes[2] - Short-term pressures from US-China trade frictions are expected to persist, with potential risks in the financial sector, especially post-Trump's term[2] Group 2: Fiscal Policy Measures - The issuance of special bonds is accelerating, with 1.3 trillion yuan in long-term special bonds planned for this year, an increase of 300 billion yuan from the previous year[3] - Local government special bonds are set to reach 4.4 trillion yuan, up 500 billion yuan from last year, with over 1.1 trillion yuan already issued, accounting for 26% of the annual target[3] Group 3: Monetary Policy Tools - New structural monetary policy tools will be established to support technological innovation, expand consumption, and stabilize foreign trade[4] - The scale of loans for technological innovation is expected to increase from 500 billion yuan to between 800 billion and 1 trillion yuan to meet rising financing demands[6] Group 4: Support for Trade Enterprises - Financial support measures for trade enterprises affected by tariff frictions include increasing unemployment insurance fund returns and enhancing financing support[9] - The government aims to alleviate short-term financial difficulties for export-oriented enterprises through various financial instruments[9] Group 5: Market Stability - The focus is on stabilizing market expectations and activating economic vitality, particularly in the real estate and stock markets[11] - The overall debt, real estate, and stock markets are critical areas for maintaining stability amid external shocks[12]