Under the current situation, what role will fiscal policy play in supporting and stabilizing the overall economic situation? On the afternoon of May 30, the national video conference on financial support to stabilize the overall economic market held in Beijing made a comprehensive deployment, focused on eight key tasks, and released a strong signal to take a more active role in fully stabilizing the overall economic market. "We will further strengthen the VAT rebate policy to help enterprises tide over difficulties." The first key task deployed at the meeting focused on tax reduction and rebate. The meeting pointed out that more industries will be included in the policy of monthly full refund of incremental tax credits and one-time full refund of stock tax credits. It is estimated that more than 140 billion yuan of tax credits will be added. The total amount of new tax rebates under the various tax rebate policies introduced this year will reach about 1.64 trillion yuan. We will accelerate the progress of tax rebates and ensure that the centralized refund of the remaining tax credits of small enterprises and medium-sized and large enterprises in manufacturing and other industries is basically completed in the first half of the year. Second, accelerate the progress of fiscal expenditure and give full play to the benefits of funds and policies as soon as possible. The meeting pointed out that we should step up the construction of major projects that have been included in the annual plan, make good use of the special bond funds issued by local governments, and form physical workload as soon as possible. We will increase the vitality of stock funds, and recover the balance funds and carry over funds that have not been used up for two consecutive years as required for overall use. Third, accelerate the issuance and use of local government special bonds and expand the scope of support, and strive to promote steady growth and investment. The meeting pointed out that as of May 27, a total of 1.85 trillion yuan of new special bonds had been issued, an increase of about 1.36 trillion yuan over the same period last year, accounting for 54% of the quota issued. The meeting required the provincial financial departments to speed up the expenditure progress, ensure that the issuance of new special bonds this year is basically completed by the end of June, and strive to be basically used by the end of August. Fourth, go all out to stabilize market players and support the healthy development of small, medium-sized and micro enterprises. We will issue incentive funds for small and micro enterprises to reduce financing guarantee fees and support the expansion of financing guarantee business and the reduction of guarantee rates. Fifth, we will effectively expand investment and consumption and unleash the potential of domestic demand. A phased reduction of 60billion yuan in the purchase tax on some passenger cars will further boost automobile consumption. Sixth, we should be vigilant in times of peace and ensure food and energy security. On the basis of the 20billion yuan of agricultural subsidies already issued in the early stage, another 10billion yuan of agricultural subsidies will be issued. Seventh, support to ensure the stability of the industrial chain supply chain and promote the smooth economic cycle. We will increase the rescue support for civil aviation and other industries and enterprises greatly affected by the epidemic, and implement phased financial subsidies for the operation of domestic passenger flights. Overall increase support for logistics hubs and logistics enterprises. Eighth, we will improve policies and measures to ensure the basic livelihood of the people. Implement phased support policies for housing provident fund. When the price increase meets the specified conditions, the linkage mechanism between social assistance and security standards and price increase shall be launched in a timely manner. Luozhiheng, President of YueKai Securities Research Institute, told the reporter of Economic Information Daily that the strength of relevant fiscal policies exceeded market expectations, reflecting the determination to exchange the "tight life" of the government for the "good life" of market players. He said that from the perspective of measures, there are five characteristics: greater efforts, larger scale of tax rebates and wider benefits for the industry; Faster pace, faster pace of tax rebate, faster issuance, use and fiscal expenditure of special bonds, which is conducive to promoting economic stability and recovery as soon as possible; The policy instruments are more than RMB yuan, involving tax reduction, fee reduction and tax rebate, expenditure policy, government procurement, people's livelihood and social security, etc., and the fiscal policy should be fully implemented; More explicit objectives, more direct benefits for market players and local governments, which is conducive to ensuring the employment of market players; The implementation of active policies while still strengthening financial discipline is conducive to preventing and resolving risks. (Xinhua News Agency)