2026年经济工作重磅定调！最新解读来了

Core Insights - The Central Economic Work Conference held from December 10 to 11 in Beijing summarized the economic work for 2025 and outlined the tasks for 2026, emphasizing a steady approach to economic growth while addressing current challenges [1][2]. Economic Performance and Policy Effectiveness - The conference acknowledged the economic performance and policy effectiveness during the "14th Five-Year Plan" period, highlighting that despite multiple pressures, the economy has shown resilience and is on track for a good start to the "15th Five-Year Plan" [2][3]. - GDP growth for the first three quarters of this year reached 5.2%, surpassing the annual target of around 5.0% [2]. Macroeconomic Policy Direction - The macroeconomic policy for 2026 will maintain three key principles: a more proactive fiscal policy, an appropriately loose monetary policy, and a consistent macro policy approach [4][5]. - The fiscal deficit rate is expected to remain stable, while the scale of special bonds and long-term bonds will increase to support infrastructure and innovation projects [4][5]. Domestic Demand and Consumption - The conference emphasized the importance of domestic demand, with a focus on enhancing consumer capacity and willingness through initiatives like the implementation of a plan to increase urban and rural residents' income [7]. - Policies will prioritize consumption over investment, indicating a shift towards demand-side strategies to stimulate economic growth [7]. Technological Innovation - The conference reiterated the significance of technological innovation, aiming to cultivate new growth drivers and enhance competitive advantages [8]. - Key initiatives will include developing a comprehensive plan for education and technology talent, establishing international innovation centers, and optimizing the industrial structure [8]. Real Estate Market Stability - The conference addressed the need to stabilize the real estate market and manage local government debt risks, with a focus on high-quality transformation in the real estate sector [10][11]. - Policies will aim to support the construction of quality housing and reform the housing provident fund system to aid market stability [10]. Foreign Trade and Investment - The conference shifted its focus from merely stabilizing foreign trade and investment to promoting win-win cooperation across multiple fields [12][13]. - Future efforts will include expanding service sector openness, fostering new trade dynamics, and enhancing bilateral and multilateral cooperation [12][13].