解读中央政治局会议：如何理解“扩大内需、优化供给，做优增量、盘活存量”？

Group 1 - The core viewpoint of the Central Political Bureau meeting emphasizes the need for proactive macroeconomic policies to enhance demand, optimize supply, and achieve a balanced economic structure, aiming for a good start to the 14th Five-Year Plan [1] - The meeting highlights the importance of expanding domestic demand and stimulating effective investment to address the persistent issue of insufficient effective demand in the Chinese economy [1][2] - The economic growth target for 2026 is projected to be between 4.5% and 5.0%, reflecting a slight downward adjustment from the previous year's target, while still maintaining a medium to high growth level [2] Group 2 - The meeting stresses the need for a more proactive fiscal policy and moderately loose monetary policy to support economic stability and growth, with an emphasis on integrating stock and incremental policies [2][3] - The fiscal deficit rate is suggested to increase to 4.5% to 5% in 2026, with a broad deficit scale exceeding 16 trillion yuan, to create incremental demand and adjust the economic structure [5] - The analysis indicates that approximately 7.4 trillion yuan in incremental fiscal funds will be needed to support the targeted 5% economic growth in 2026, with specific allocations for special bonds and local government debt [5][6]