2024年9月中央政治局会议解读：加力推出增量政策

Economic Outlook - The Central Political Bureau meeting on September 26 emphasized the need to stabilize economic growth amid increasing downward pressure, with a focus on fiscal, real estate, and consumption policies[1] - Since August, there has been a notable decline in housing prices and a slowdown in price growth, alongside a rapid drop in domestic stock markets and interest rates[1] Policy Measures - The meeting called for enhanced counter-cyclical adjustments in fiscal and monetary policies, including the issuance of long-term special government bonds and local government special bonds[1] - A shift in real estate policy aims to "promote stabilization" of the market, with a focus on controlling supply and adjusting housing purchase restrictions[1] Consumption and Employment - The report highlights the importance of combining consumption promotion with improving livelihoods, particularly for low-income groups, to enhance consumption structure[3] - Employment policies will focus on supporting key demographics, including recent graduates and migrant workers, to ensure a safety net for livelihoods[3] Market Confidence - The meeting stressed the need to boost market confidence and attract long-term capital into the market, addressing barriers for social security, insurance, and wealth management funds[2] - There is a commitment to support mergers and acquisitions of listed companies and to gradually advance public fund reforms[2]