首席看经济｜章俊：新动能重塑产业格局，三大维度撬动消费意愿

Group 1 - The core focus of the Central Economic Work Conference is to prioritize consumer-related themes for the upcoming year, emphasizing the need to stimulate residents' consumption willingness through various policy measures [3][10] - International organizations have raised their economic growth forecasts for China, reflecting recognition of the country's short-term resilience and long-term potential, driven by macro policy coordination, strong internal and external demand, and industrial upgrades [6][7][8] - The fiscal policy for 2025 is set to be more proactive, with a narrow deficit rate increasing to 4% and a broad deficit rate rising from 6.6% in 2024 to 8.5% in 2025, alongside monetary policy tools aimed at supporting key sectors [6][13] Group 2 - To enhance consumer willingness, policies should focus on optimizing income distribution, strengthening public service investment, and expanding consumption supply, including improving the quality of goods and services [10][11] - The integration of stock and incremental policies in the financial sector is crucial, with expectations of interest rate cuts and structural monetary policy tools to support economic growth [12][13] - The reform of the capital market is aimed at balancing financing and investment functions, enhancing the attractiveness of the market, and improving the quality of listed companies [15][16] Group 3 - The "Fifteenth Five-Year Plan" emphasizes the construction of a financial powerhouse, with a focus on high-quality financial support for the real economy and modernization [19] - Key tasks for financial system reform during the "Fifteenth Five-Year Plan" include improving the central bank system, enhancing the role of capital markets, and optimizing the financial institution system [19]