证券时报2025年四季度经济学家问卷调查显示：经济预期进一步改善 看好2026年A股表现

Group 1 - The survey conducted by Securities Times indicates an improvement in economic expectations for China, with "stability" being a frequently mentioned term among economists [1][2] - Over 70% of surveyed economists believe that China's economic growth in the past year met expectations, with 21% stating it exceeded them [2][3] - The "Securities Times Economic Expectation Heat Index" has risen for three consecutive quarters, reflecting a sustained improvement in economic outlook [2] Group 2 - Economists expect the international economic and trade situation to remain stable, with 61% believing its impact on China's economy will be manageable [3] - The primary focus for economic work in the coming year is to expand domestic demand, with 75% of respondents anticipating stabilization or improvement in price levels [3][6] - The majority of respondents (96%) rated the stock market's outlook positively for the first half of 2026, indicating strong confidence in market performance [4] Group 3 - The report suggests that the fiscal deficit rate may have room for increase, with over 60% of respondents expecting it to remain above 4% [6] - Economists recommend implementing more policies to stabilize the real estate market, including the establishment of a national housing acquisition fund and lowering mortgage rates [7] - The overall sentiment is that despite global economic slowdowns, China's growth advantages remain, providing potential for income growth and industrial upgrades [7]