聚焦中央经济工作会议丨中央财办有关负责同志详解2025年中央经济工作会议精神

Core Viewpoint - The 2025 Central Economic Work Conference outlines China's economic performance and strategic priorities, emphasizing resilience and innovation in the face of challenges, while setting a roadmap for future growth and stability. Economic Performance and Outlook - The overall economic operation is stable with expected growth around 5% for the year, positioning China among the leading global economies, with a projected GDP of approximately 140 trillion yuan [2] - Employment remains stable, with significant growth in foreign trade and diversified exports [2] - The construction of a modern industrial system is progressing, with advancements in technology and innovation in sectors like AI and biomedicine [2] - Reforms and opening-up measures are advancing, with a focus on creating a unified national market and addressing competitive issues [2] - Risk mitigation in key areas has shown positive results, including the orderly replacement of local government hidden debts and the completion of housing delivery tasks [2] - Social welfare policies, such as childcare subsidies and free education for preschoolers, are being implemented to enhance public welfare [2] Challenges and Strategic Responses - The conference acknowledges ongoing economic challenges, including external environmental changes and domestic supply-demand imbalances [3] - Despite these challenges, China's long-term economic fundamentals remain strong, supported by a large market, complete industrial system, and abundant talent resources [3] - The government plans to continue implementing proactive macroeconomic policies, focusing on quality and efficiency [4][5] Fiscal and Monetary Policy - The fiscal policy will maintain necessary deficits and debt levels while addressing local fiscal difficulties and ensuring sustainable finances [5][6] - Monetary policy will remain moderately accommodative, with a focus on stabilizing economic growth and ensuring liquidity [8][9] Domestic Demand and Investment - Expanding domestic demand is a top priority, with a contribution rate of 71% to economic growth in the first three quarters [9] - The government aims to stimulate consumption by addressing structural changes and enhancing residents' income [9][10] - Investment strategies will focus on infrastructure and social welfare, with an emphasis on high-quality projects and private sector engagement [10] Regional Development and Innovation Centers - The construction of international technology innovation centers in Beijing, Shanghai, and the Guangdong-Hong Kong-Macau Greater Bay Area is a key strategic initiative to enhance global competitiveness [11][12] - The expansion of these centers aims to integrate innovation resources and promote high-quality development [12] Market Regulation and Competition - The government is addressing market distortions and enhancing fair competition through regulatory reforms and the establishment of a unified national market [13][14] - Measures will be taken to regulate local government behaviors and ensure compliance with fair competition standards [14] Trade and Foreign Investment - The government plans to enhance foreign trade and investment through a series of measures, including expanding service sector openness and optimizing the business environment for foreign investors [15][17] - Efforts will be made to sign more trade agreements and promote high-quality imports [16][17] Employment and Real Estate Market - Employment policies will focus on stabilizing job growth, particularly for key demographics such as graduates and migrant workers [22][23] - The real estate market will be stabilized through measures that address both supply and demand, encouraging the transformation of real estate companies and promoting high-quality housing development [25][27]