张卓元教授指出，在观察今年上半年我国经济形势时，有两点值得专门一提。首先是政府实施扩张性的宏观经济政策效应逐步显现和增强，这是促使我国经济好转的重要因素。1998年起，政府实施有一定力度的扩张性宏观经济政策；1998、1999年和今年连续3年每年增发上千亿元国债用于基 Professor Zhang Zhuoyuan pointed out that when observing the economic situation in our country in the first half of this year, two points deserve special mention. First, the gradual emergence and enhancement of the effect of the government’s expansionary macroeconomic policy is an important factor that has contributed to the improvement of our economy. Since 1998, the government has implemented some expansionary macroeconomic policies. In 1998, 1999 and the third consecutive year this year, China issued additional 100 billion yuan of treasury bonds each year for base