内需偏弱仍是工业企业利润的主要拖累｜宏观晚6点

Macro News - The People's Bank of China has introduced an action plan for the management and service system of digital RMB, which will officially launch on January 1, 2026 [1] Tariff Adjustments - The State Council Tariff Commission has released the 2026 Tariff Adjustment Plan, effective from January 1, 2026, which includes a temporary import tariff rate lower than the most-favored-nation rate for 935 items to enhance the linkage between domestic and international markets [2] Domestic Aviation Fuel Surcharge - Starting from January 5, 2026, the domestic aviation fuel surcharge will be reduced, with a fee of 10 yuan for flights under 800 kilometers and 20 yuan for flights over 800 kilometers, representing a reduction of 10 yuan and 20 yuan respectively [5] Institutional Insights - According to Yu Yongding, the key to maintaining China's economic growth rate at 5% next year lies in the expansion of fiscal policy, emphasizing that increasing infrastructure investment is an effective tool to address insufficient effective demand [6] - Everbright Securities predicts that the profitability of the midstream industry will continue to show a positive trend [7]