The fiscal policy will focus on expanding domestic demand and ensuring people's livelihood, strictly control general administrative expenditures, and tilt towards the construction of new countryside, the development of social undertakings, difficult areas and difficult people. Specific measures include continuing to improve the agricultural subsidy system, expanding the scope of subsidies and raising subsidy standards; Improve the dynamic adjustment mechanism of agricultural subsidies linked to the price increase of agricultural means of production; Increase investment in rural infrastructure.

Since the central bank lowered the benchmark interest rate of RMB loans and the RMB deposit reserve ratio of small and medium-sized financial institutions in September 16, on September 9, 65438 and on October 30/kloc-0, the central bank lowered the benchmark interest rate of deposits and loans of financial institutions, exempted interest tax and the deposit reserve ratio respectively. At present, the central bank no longer imposes hard constraints on the credit planning of commercial banks. While cutting interest rates, the central bank relaxed credit restrictions, increased the scale of enterprise financing, reduced financing costs and encouraged enterprises to invest in production. Interest tax is exempted when the deposit interest rate is lowered, which has little effect on the real interest rate income of savings and helps to stabilize the demand for savings and consumption.

The central bank will continue to improve liquidity management, ensure sufficient liquidity supply in the market, and guide the rational supply of money and credit. According to the changes in the balance of payments, we will flexibly use policy tools such as open market operation and deposit reserve ratio to keep liquidity in the banking system at a reasonable level. Formulate and improve the emergency plan for liquidity in the banking system to cope with the possible adverse impact of the international financial crisis on liquidity in the banking system.

At the same time, strengthen window guidance and credit policy guidance to optimize the credit structure. Guide financial institutions to further improve financial services and adjust the pace and intensity of credit supply according to the effective demand of the real economy. At the same time, we should combine total adjustment with structural optimization, and increase credit support for key economic fields and weak links such as agriculture, rural areas and farmers, employment, service industry, small and medium-sized enterprises, independent innovation, energy conservation and environmental protection under the principle of commercial sustainability. It is necessary to strengthen the monitoring and guidance of credit investment to ensure that the loan investment meets the requirements of credit policy.