On July 23, the national Standing Committee proposed that "the proactive fiscal policy should be more active" and the Political Bureau meeting on July 31 proposed that "fiscal policy should play a greater role", which are both correcting the lack of predictability and initiative in China's proactive fiscal policy in the first half of the year. In the second half of the year, infrastructure investment will become an effective and important key to China's fiscal policy to expand demand. However, the space for more proactive fiscal policies does not lie in infrastructure investment, but in tax cuts and fee reductions.
