关键词: 新发展阶段, 宏观经济治理, 多元政策工具, 政策协同, 预期管理

Abstract: This paper systematically elucidates the paradigm shift from “macro-control” to “macroeconomic governance” and its theoretical implications. It analyzes six complex characteristics of macroeconomic operations in the new development stage, such as “weak balance”, and reveals the limitations of the traditional Keynesian policy framework under new circumstances. The study constructs an analytical framework for a macroeconomic governance system comprising four pillars: a modern central banking system, unconventional policy tools, coordination of diverse policy instruments, and macroeconomic expectation management. Finally, in alignment with the strategic deployment of the fourth plenary session of the 20th Central Committee of the Communist Party of China on improving the macroeconomic governance system, it proposes a practical pathway guided by national strategic planning. This includes deepening reforms in the fiscal, tax, and financial systems, strengthening policy consistency evaluation, and enhancing expectation management. The aim is to provide theoretical direction and policy references for building a macroeconomic governance system with Chinese characteristics that meets the demands of the new development stage.

Key words: New Development Stage, Macroeconomic Governance, Diverse Policy Tools, Policy Coordination, Expectation Management