定调2026：2025年中央经济工作会议解读

Core Viewpoint - The Central Economic Work Conference emphasizes the importance of addressing local fiscal difficulties through a more proactive fiscal policy and improved fiscal management [1] Group 1: Fiscal Policy - The conference proposes to continue implementing a more proactive fiscal policy, indicating that necessary spending levels will be maintained next year [1] - The emphasis on a more proactive fiscal policy suggests a commitment to sustaining fiscal expenditure intensity [1] Group 2: Fiscal Management - Strengthening fiscal scientific management is highlighted as a key aspect, integrating policy support and reform innovation [1] - The integration of fiscal policy, reform, and management aims to enhance the efficiency of fiscal expenditures [1] Group 3: Fiscal Reform - The conference mentions the need for reforms such as "deepening zero-based budgeting" to significantly improve the effectiveness of fiscal policies [1] - This reform is seen as a systematic approach to addressing local fiscal issues [1]