中国银河证券章俊：2026年政府工作报告背后的四大亮点

Core Insights - The core viewpoint of the article highlights four major points from the 2026 government work report, including setting a range-based economic growth target, emphasizing the importance of service consumption, strengthening livelihood security, and promoting a comprehensive green transition [2] Policy Tools - Three aspects of policy tools are noteworthy: overall stability in fiscal strength, structural increases mainly reflected in raising the quota for policy financial instruments, and a shift in consumption policy from short-term stimulus to long-term mechanism construction [2] - The establishment of a 100 billion yuan special fund for fiscal and financial collaboration to promote domestic demand is also significant [2] Capital Market Signals - The report sends three positive signals in the capital market: a significant increase in the proportion of direct financing, especially equity financing; ongoing deepening of investment and financing reforms; and the establishment of mechanisms for long-term capital market entry, along with enhanced investor protection [2]