A major change in financial policy!

This weekend, the RRR cut we expected did not materialize.

It's okay if you don't cash in, there is no RRR cut this weekend, just wait for next weekend.

After the U.S. non-farm payrolls data came in lower than expected on Friday night, the market's expectations for the Fed's easing are heating up rapidly, and it is already looking forward to starting to cut interest rates in June next year.

This gives the country more room for easing.

Next, domestic interest rate cuts and RRR cuts are worth looking forward to.

It's just that the way of releasing water will be very different from before.

In the past, we released water through the central bank, and then through commercial banks, it was converted into loans.

As a result, a large amount of money has flowed into real estate, as well as idling around the financial system and playing the game of making money.

For more than ten years after 08 years, real estate is the most profitable industry, and other industries cannot be compared with real estate.

The financial system, on the other hand, is mainly for real estate.

A lot of money, through the financial system, has been flowing to real estate.

Including local government bonds, which are essentially collateral with land (site income).

As a result, the central government has been shouting that the financial system should serve the real economy, but the effect is not great.

There is no way, capital is profit-seeking, and whatever industry makes money, it will go to whatever industry.

The most profitable is real estate, and then it all pours into real estate.

Now, real estate has become like this, this underlying asset is gone, and the entire financial system dependent on real estate will naturally have to be reformed.

Therefore, our financial policy is changing.

In the past, monetary policy was the mainstay, and the central bank continued to print money and release water, and in accordance with the market-oriented method, the funds flowed to real estate.

Now, the tone has changed.

What the Ministry of Finance is talking about now is to implement a proactive fiscal policy.

The central bank is talking about always maintaining the soundness of monetary policy.

One is positive, the other is steady, this contrast, the meaning is obvious.

In the future, we will rely more on fiscal policy!

The reason is very simple: financial funds, where you want to support, you can support wherever you want!

If the country wants to support high-quality development and scientific and technological innovation, it should use real money to support it.

Last week, the new issuance of 1 trillion national bonds was just the beginning.

In 1998, the first special treasury bond was issued, not for one year, but for three consecutive years, to support infrastructure construction, help China's economy get out of the quagmire of the Asian financial crisis, and also to prepare for China's accession to the WTO in 2001.

Now, where will the money go?

Tonight's "News Network" reported an exclusive interview with the Minister of Finance.

It mentions the "four focuses" of active fiscal policy:

Tax and fee reductions and people's livelihood protection are clichés; The variables are mainly the middle two.

In terms of expanding domestic demand, the focus in the past few years has been to support automobile consumption, especially new energy vehicles.

Then there is scientific and technological innovation, which is the direction that continues to be emphasized.

In the next step, what areas will the financial funds focus on? will focus our attention.

To sum up: in the past, it was to see where the water released by Yang Ma flowed, and in the future, it was to see who the money was stuffed into by the rich father...