中国社科院金融所：以政策支持和改革创新推动经济稳中向好

Core Insights - The report from the Chinese Academy of Social Sciences indicates a shift in economic policy direction for 2026, moving from "strengthening extraordinary counter-cyclical adjustments" to "increasing counter-cyclical and cross-cyclical adjustment efforts" [1] Group 1: Policy Adjustments - The adjustment aims to create policy space for the turning point in the Sino-US economic and financial cycles, shifting monetary policy from total stimulus to structural optimization to avoid widening interest rate differentials [1] - The balance between stabilizing growth and preventing risks is emphasized, with a focus on the impact of government debt expansion on long-term fiscal sustainability and the rising macro leverage ratio [1] - The approach combines short-term demand management with long-term structural reforms, aiming to smooth short-term economic fluctuations while addressing systemic issues [1] Group 2: Recommendations - The report suggests a dual approach of policy support and reform innovation to effectively release domestic demand potential [2] - It advocates for high-quality urban renewal as a means to stabilize and boost investment [2] - The report calls for innovative macroeconomic governance strategies to accelerate the repair of microeconomic entities' balance sheets [2]