9月26日政治局会议点评：政策加快加力发力

Group 1: Economic Situation and Policy Focus - The Central Political Bureau held a meeting on September 26 to analyze the current economic situation, indicating a strong emphasis on economic work by the Party Central Committee[5] - The meeting's timing is unusual for September, reflecting the Party's heightened concern over the economic landscape[6] - The Central Committee expressed confidence in the current economic situation, acknowledging new challenges while emphasizing the need to implement existing policies and introduce new ones[7] Group 2: Policy Measures and Expectations - The policies discussed are a refinement of those from the July meeting, with a focus on targeted measures that exceed market expectations[8] - Key measures include increasing counter-cyclical adjustments in fiscal and monetary policies, issuing long-term special government bonds, and lowering reserve requirements and interest rates[9] - The meeting highlighted the need to stabilize the real estate market by controlling new construction and optimizing existing projects, alongside lowering mortgage rates[9] Group 3: Implementation and Social Concerns - Future attention is required on the implementation of fiscal policies, particularly regarding the issuance of long-term bonds and local government special bonds[10] - The meeting showed a greater concern for social welfare, emphasizing support for businesses and vulnerable populations, including recent graduates and low-income groups[11] - Risks include potential significant changes in the economy and the possibility that policy effects may not meet expectations[11]