强化内需主导！年末政治局会议楼市再度“隐身”，城乡融合连续三年被提及｜中央经济工作会议前瞻

Core Insights - The Central Political Bureau meeting on December 8 emphasized urban-rural integration and regional coordinated development for economic work in 2026, without directly mentioning real estate, contrasting with previous meetings that focused on stabilizing the real estate market [2][3] Group 1: Real Estate Risk Management - Despite the lack of direct mention of real estate, the meeting highlighted the importance of "safeguarding the bottom line and actively and steadily resolving key area risks," indicating that real estate remains a focus for risk management [3] - The China Academy of Social Sciences noted that the deep policy adjustments in the real estate sector have led to declines in housing and land prices, exacerbating macroeconomic debt issues, making it crucial to stabilize the real estate market [3][4] - The Shanghai E-House Real Estate Research Institute suggested that new strategies are needed for risk prevention, including ensuring housing delivery and exploring new funding sources, while emphasizing market-oriented debt restructuring for real estate companies [4] Group 2: Urban-Rural Integration and Domestic Demand - Urban-rural integration has been repeatedly emphasized in recent Political Bureau meetings as a core goal of new urbanization, aiming to enhance domestic demand and promote coordinated regional development [5][6] - As of 2023, the urbanization rate of China's registered population was 48.3%, indicating a significant gap of nearly 18 percentage points compared to the overall urbanization rate of 67%, highlighting the need for further integration of rural labor into urban areas [5] - The State Council's recent emphasis on human-centered new urbanization aims to unlock the potential of urban-rural integration to drive economic growth, focusing on equal access to public services and infrastructure connectivity [6]