宏观政策与结构改革需共同发力

Group 1 - The core issue facing China's economic growth is insufficient demand and confidence, which are interrelated [4] - Current macroeconomic policies in China have been significantly strengthened, with an emphasis on both short-term stimulus and long-term structural reforms [5][7] - The unique approach of using non-price tools and administrative measures in macroeconomic policy is linked to China's transitional economy and underdeveloped market mechanisms [7] Group 2 - It is important to elevate the pursuit of moderate inflation to the same level as the goal of medium-speed economic growth, as low inflation can harm the economy [8] - Immediate implementation of planned fiscal expenditures is necessary, shifting focus from "heavy investment, light consumption" to supporting consumption growth [8] - Utilizing sovereign credit to stabilize the market and restore confidence is recommended, with the central government taking on certain responsibilities [8] Group 3 - Structural reform policies must keep pace with macroeconomic policy shifts to ensure sustainable economic progress over the next decade [10] - Increasing household income and improving social security are fundamental to expanding consumption, which is currently low in relation to GDP [10] - Local government investment attraction behaviors need to be regulated to prevent inefficiencies and over-concentration in certain industries [11][12] Group 4 - Effective market and proactive government roles must be balanced, with decision-making authority appropriately transferred to the market and enterprises [11] - Local governments should focus on core functions such as maintaining social order, ensuring fair competition, and providing public services, rather than solely on industrial policy [12]