今日视点：“一行一局一会”工作会议释放哪些信号？

Group 1 - The core policy direction of the People's Bank of China, the National Financial Regulatory Administration, and the China Securities Regulatory Commission remains stable, focusing on steady growth, promoting high-quality development, and risk prevention [1][2][3] - In monetary policy, the central bank emphasizes the importance of promoting high-quality economic development and reasonable price recovery as key considerations, while flexibly using various monetary policy tools [2][9] - The financial "five major articles" policy framework will be further improved in 2026, aiming to optimize the financial supply structure and inject lasting internal momentum into economic development [2][10] Group 2 - The emphasis on risk prevention remains clear, with the central bank proposing to improve macro-prudential and financial stability management tools, while the regulatory bodies focus on addressing existing risks and preventing new ones [3][10] - There is an increased focus on collaborative efforts among the three departments, recognizing that single-department actions have limited marginal effects in the current economic environment [4][11] - The 2026 work priorities show a shift towards more forward-looking and institutionalized arrangements, with a clear focus on the "15th Five-Year Plan" and the establishment of mechanisms to support capital markets [5][13]