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Main contents:1. The contents of the meeting and the response from the external market will further boost market confidence, enhance the risk appetite of funds, and increase our chances and success rate of investing in financial markets.6. The layout direction remains unchanged, focusing on real estate and consumption in the short term; The mid-line focuses on low-altitude economy, AI applications, semiconductors, and new energy batteries.

1. In 2025, a proactive fiscal policy will be implemented that exceeds market expectations. It is estimated that the fiscal deficit ratio will exceed 4%, and I predict it will be about 4.5%.1. The wording of proactive fiscal policy and deficit shows the determination to exceed expectations, and other contents are basically in line with my expectations. It is reasonable for the market to interpret it as a major positive, and the positive reaction of foreign capital may be related to its large-scale layout of China assets and call options in the early stage.

3. Emphasis on stabilizing the property market and the stock market. Beijing rarely mentions the stock market, showing its importance.1. The contents of the meeting and the response from the external market will further boost market confidence, enhance the risk appetite of funds, and increase our chances and success rate of investing in financial markets.2. In my opinion, the advantages are mainly reflected in the fact that the management will continue to adhere to the general direction of expanding reform and opening up and vigorously developing the economy, and the loose monetary policy and proactive fiscal policy are also appropriate. It is my expectation to increase and improve people's livelihood and enhance people's sense of gain, happiness and security. I think this content is good, and the key lies in the implementation of specific measures and policies to achieve the above goals. Therefore, the content of the follow-up meeting may be more critical.