定调2026，中央经济工作会议最新解读！对市场影响几何？

Group 1 - The central economic work conference held on December 10-11, 2025, summarized economic work and analyzed the current economic situation, deploying tasks for 2026 [1][14] - The conference emphasized the integration of stock and incremental policies to enhance macroeconomic governance effectiveness and consistency [17][18] - The GDP growth target for the first three years of the 14th Five-Year Plan is expected to remain around 5% [17][18] Group 2 - The fiscal policy will be more proactive, maintaining necessary fiscal deficits and optimizing expenditure structures [18][19] - Monetary policy will be moderately loose, focusing on promoting stable economic growth and reasonable price recovery [19][4] - The fiscal stimulus for consumption is expected to increase from 300 billion to 500 billion yuan, with a focus on service consumption [21] Group 3 - The conference highlighted the importance of domestic demand and the construction of a strong domestic market as a strategic foundation for modernization [20][21] - Measures will be taken to boost consumption, including the implementation of a plan for increasing urban and rural residents' income [20][21] - Investment support through special bonds is projected to increase from 800 billion to 1 trillion yuan [21] Group 4 - The conference called for the deepening of "Artificial Intelligence+" and innovation in financial services to foster new growth drivers [22][23] - The establishment of international technology innovation centers in key regions aims to optimize the national innovation system [22][23] - The focus on technology-driven development is expected to enhance the competitive advantage of the economy [22][23] Group 5 - The conference emphasized the need for coordinated development, promoting urban-rural integration and regional collaboration [24][25] - Key initiatives include advancing urbanization and rural revitalization while ensuring food security [24][25] - The integration of urban and rural development strategies is seen as a critical path to address development imbalances [24][25] Group 6 - The conference stressed the importance of stabilizing the real estate market through targeted policies [11][26] - Measures will include encouraging the purchase of existing homes for affordable housing and reforming the housing provident fund system [11][26] - The focus will be on controlling new supply, reducing inventory, and improving housing quality [11][26] Group 7 - The conference outlined the need for continuous reform in the capital market to enhance financing support for innovation and the real economy [28][29] - The establishment of a unified national market and the reduction of "involution" competition are key reform areas [28][29] - The aim is to create a more attractive environment for long-term investments and improve the capital market ecosystem [28][29]