推动经济回升向好，这些调控政策值得期待

Group 1: Economic Growth and Consumption - In 2026, China is expected to implement multiple measures to boost consumption, stabilize investment, and cultivate new growth drivers, opening new growth spaces for the economy [1] - The contribution rate of final consumption expenditure to economic growth reached 53.5% in the first three quarters of 2025, an increase of 9.0 percentage points compared to the entire year of 2024 [2] - The optimization of the old-for-new consumption policy will be a key measure to stimulate consumption, including subsidies for vehicle scrapping and replacement, as well as for home appliances and digital products [2][3] Group 2: Investment and Infrastructure - National fixed asset investment decreased by 2.6% year-on-year from January to November 2025, with private investment down by 5.3% [5] - The implementation of policies to promote private investment is crucial for 2026, focusing on new productive forces, traditional industry upgrades, and infrastructure development [5] - The government will enhance investment in key strategic areas and new infrastructure, utilizing various financial tools to support investment stability [5] Group 3: Market Regulation and Competition - The establishment of a national unified market construction regulation is essential for addressing "involution" in competition, ensuring unified rules and improving market efficiency [6] - The regulation aims to eliminate local protectionism and improve cash flow for enterprises, particularly small and medium-sized enterprises [6] - Continuous efforts are needed to maintain fair and orderly market competition while enhancing government oversight [6] Group 4: New Growth Drivers and Innovation - The potential for service consumption is significant, with a focus on expanding service consumption as a key task in 2026 [4] - The "Artificial Intelligence +" initiative will be deepened in 2026, promoting AI integration across various sectors, including education, healthcare, and tourism [8] - China has made substantial progress in innovative drug development, with over 110 domestic innovative drugs approved since the 14th Five-Year Plan, and a market size of 1000 billion [8]