扩内需、优供给、促改革——有信心有能力推动“十五五”开好局起好步

Group 1 - The core focus of China's macro policy for 2026 will be to strengthen domestic circulation and expand domestic demand, with a strategic implementation plan for 2026-2030 aimed at achieving a dynamic balance between supply and demand [1] - The National Development and Reform Commission (NDRC) emphasizes the need to shift the economic development model towards one driven by domestic demand and consumption, while also enhancing the modern industrial system through innovation [1] - The "Two New" policies have shown significant effects in stabilizing investment and expanding consumption, with over 8,400 equipment upgrade projects supported by long-term special bonds, leading to total investments exceeding 1 trillion yuan and a year-on-year increase of 11.8% in equipment purchases [1] Group 2 - The "Two New" policy for 2026 has optimized support scope, subsidy standards, and implementation mechanisms, with the first batch of 62.5 billion yuan in long-term special bonds allocated for consumer goods replacement programs [2] - Increasing consumer income is crucial for boosting domestic demand, with plans to implement actions for job stability and income growth for urban and rural residents, alongside initiatives to enhance the service sector [2] - The NDRC is focused on combining investments in goods and people to improve investment efficiency, optimizing government investment structures, and increasing the proportion of government investment in livelihood projects to stimulate demand [2] Group 3 - Expanding domestic demand is viewed as a strategic measure rather than a temporary solution, requiring strong policy support and reform efforts [3] - The recent deployment of a comprehensive fiscal and financial policy package aims to promote domestic demand through mechanisms like loan interest subsidies and guarantees, creating a synergistic effect [3] - The NDRC plans to address bottlenecks in the supply-demand cycle by removing unreasonable restrictions in the consumption sector and promoting new consumption models and scenarios [3]