The Characteristics of Macroeconomic Fluctuations and the Regulatory Effects of Monetary and Fiscal Policies in China under the Current Situation

Abstract

In 2023, with the slowdown of the world economy and the lack of effective domestic demand, China's economy withstood the pressure and overcome difficulties, achieving an annual GDP of more than 126 trillion yuan, and the main expected goals were successfully achieved. At present, the external environment is still complex and severe, and there are still many domestic risks and hidden dangers, and there are still some difficulties and challenges to overcome to promote the further recovery of China's economy. Fiscal revenue recovery growth Expenditure intensity remains strong, fiscal policy should be more proactive, and give full play to the advantages of flexible transmission mechanism and direct access to micro entities. Monetary policy should be more coordinated with fiscal policy. Macro policy, industrial policy, institutional mechanism construction and other aspects of the same measures. At the macro policy level, attention should be paid to demand-side management, especially to strengthen counter-cyclical adjustment in macroeconomic regulation and control. In terms of industrial policies, the rectification measures for some industrial policies will be relaxed to enhance the ability of industrial development to absorb employment.