The cross-cycle adjustment of macroeconomic policies emphasizes the institutionalized design of economic policies, which should not only smooth out short-term economic fluctuations, but also attach importance to the high-quality development of the future economy. Through the organic coordination of policies, taking into account short-term goals and medium-and long-term goals, it is more forward-looking and targeted; The cross-cycle adjustment of macro-policies emphasizes that macro-policies are more continuous, stable and institutionalized, and requires that policy intentions be more clearly conveyed to market players to stabilize market and social expectations.

The cross-cycle adjustment of macro-policy aims at establishing and perfecting a macro-control framework with a higher positioning and focusing on solving medium and long-term problems, and expanding macro-policy from "short-term perspective" and "speed perspective" to "medium and long-term perspective" and "quality perspective". This is China's theoretical innovation and institutional innovation in the field of macro-control, which fully demonstrates the central government's ability to control the market economy and macro-economic governance.

Cross-cycle adjustment of macro-policies can be aimed at various restrictive factors facing China's current economic development, that is, focusing on short-term countercyclical adjustment, paying more attention to solving medium-and long-term problems, seeking long-term high-quality economic development by coordinating short-term and medium-and long-term goals, and making regulatory policies more targeted and strategic.

Second, the difference between intertemporal and inverse periods.

1, they have different purposes. Counter-cyclical policy is mainly to solve the problem of short-term economic cycle fluctuation, which is also the main purpose of macroeconomic policy in western classical economic theory. Cross-cycle policy is to solve medium and long-term economic problems, both growth problems and structural problems.

2. They adopt different policy tools. Fiscal policy and monetary policy are the main countercyclical policies, especially monetary policy pays more attention to aggregate; Cross-cycle policy tools are more abundant, focusing on both aggregate adjustment and structural optimization. As Xi Xiaogang, former chairman of China Securities Regulatory Commission, pointed out, besides fiscal policy and monetary policy, inter-cycle adjustment should play a guiding role in the national macro-control planning, involving industrial policy, environmental policy and regional coordination policy.