管涛：经济不只是财政货币政策那点事儿

Core Viewpoint - The recent meeting of the Central Political Bureau emphasized the need for flexible and proactive macroeconomic policies to address ongoing uncertainties while maintaining a stable economic recovery trajectory [1][4][12]. Economic Performance - The meeting acknowledged that major economic indicators showed strong performance in the first half of the year, with GDP growth of 6.5% in Q2 2023, a significant increase from the previous year's 3.6% [4][5]. - Despite the positive indicators, challenges such as insufficient domestic demand and external uncertainties remain prevalent [2][3]. Policy Direction - The meeting did not call for increased macroeconomic control but instead focused on maintaining policy continuity and stability, suggesting a lower probability of immediate policy tightening [4][6]. - Emphasis was placed on implementing proactive fiscal policies and moderately easing monetary policies to stimulate economic growth [2][4][6]. Domestic Demand and Consumption - A key focus is on expanding domestic demand through consumption, with initiatives aimed at enhancing consumer spending and improving living standards [5][8]. - The government plans to implement a series of measures to boost consumption, including financial incentives for personal loans and support for service sector financing [8]. Market Structure and Competition - The meeting highlighted the importance of advancing the construction of a unified national market to optimize market competition and eliminate disorderly competition among enterprises [9][10]. - Legal reforms, such as the revised Anti-Unfair Competition Law, aim to foster a fair competitive environment and protect consumer rights [10]. Real Estate Sector - The meeting acknowledged the need for a new model of real estate development, focusing on stabilizing the market and promoting urban renewal [10][11]. - Policies will be implemented to support the real estate sector, including financial measures to ensure stability and growth [11][12].