知名经济学家杜帅评论-：2026年中国经济工作的破局与突围

Core Insights - The central economic work conference in December 2025 focuses on stabilizing growth, promoting consumption, and increasing income as key policy frameworks to address current economic challenges and lay a foundation for high-quality development [1][3] Monetary Policy - The conference emphasizes "promoting stable economic growth and reasonable price recovery," targeting the long-standing issues of low CPI and PPI [3] - The adjustment in monetary policy aims to restore market participants' profit expectations and consumer confidence, injecting liquidity into the macroeconomic cycle to combat deflationary expectations [3] Consumption and Income Growth - The implementation of "special actions to boost consumption" and "urban and rural residents' income increase plans" is seen as crucial for expanding domestic demand [3] - From 2020 to 2022, the actual growth rate of per capita disposable income in China showed significant fluctuations, stabilizing between 5% and 6% in the first three quarters of 2023 to 2025, but still lacking in stability and consumer spending capacity [3] - The relationship between income growth and consumption is highlighted as a positive cycle that can fundamentally alleviate the imbalance between strong supply and weak demand [3] Long-term Economic Outlook - The challenges faced by the Chinese economy are viewed as phase-specific issues rather than systemic risks, with strong supporting conditions for long-term growth remaining intact [5] - The strategic and actionable nature of the conference's deployment is expected to help the economy transition out of its current pain period and achieve sustainable growth [5] - The key to future policies lies in effectively implementing income increase plans and consumption boosting actions to enhance residents' sense of income growth and foster positive market demand expectations [5]