从“供需失衡”到“投资于人”，2026经济政策逻辑要换赛道？

Group 1 - The core viewpoint of the meeting is to set the economic policy direction for 2026, which will influence the economic landscape for the next five years, especially in the context of complex global changes [2][3] - The meeting labeled the economic work for 2025 as "extraordinary," acknowledging the challenges posed by external factors such as trade wars and geopolitical conflicts, while also highlighting the successful completion of major economic goals for the "14th Five-Year Plan" [3] - A notable shift in focus is the emphasis on the "strong supply and weak demand" contradiction, indicating a more balanced approach to addressing both supply and demand issues in the economy [3][4] Group 2 - The meeting prioritized "domestic demand-led growth and building a strong domestic market" as the first of eight key tasks for 2026, followed by fostering new growth drivers and reforming competitive practices [4] - The macroeconomic policy direction for 2026 is defined as "seeking progress while maintaining stability," with a new emphasis on improving quality and efficiency rather than solely pursuing GDP growth [6] - The meeting highlighted the importance of "investing in people," indicating a shift towards recognizing human capital as a critical factor in economic development, which aims to enhance domestic market strength and innovation [9][10]