Abstract

Abstract：In 2020，under the strong leadership of the CPC Central Committee，China was the only major economy in the world to achieve positive economic growth in the face of the severe and complex domestic and international situation and the severe impact of the COVID-19 epidemic.Meantime，the global economy shrank by about 4% in 2020.China's contribution to the world economy became more prominent and its position in the global economic landscape further rose.Under the sudden outbreak of the COVID-19 epidemic，the immediate effect of fiscal policy in fighting against the epidemic，economic recovery，and stimulating production and consumption became more prominent，and became the most important macro policy tool to save the global economy.China's proactive fiscal policies，such as special bonds，have also proved to be reasonable and effective.

Key Words：China's Macro Economy；Global Economy；Fiscal Policy；COVID-19