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Opening at 3500 tomorrow, interpretation of economic conferenceOperational recommendations: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%.

3. Emphasis on stabilizing the property market and the stock market. Beijing rarely mentions the stock market, showing its importance.4. Putting the expansion of domestic demand before the development of new quality productive forces shows the adjustment of policy focus.

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.The contents of the after-hours economic meeting were announced, and foreign capital and the media regarded the China stock index as a major positive; Hong Kong's Hang Seng Index and Singapore's A50 Index soared.3. Emphasis on stabilizing the property market and the stock market. Beijing rarely mentions the stock market, showing its importance.