定调积极超预期,关注消费类机会
Huaan Securities·2024-12-11 02:10

Group 1 - The report indicates a positive outlook for the market, emphasizing the importance of expanding domestic demand and the integration of technological innovation with industrial development for the economic work in 2025 [2][7] - The Central Political Bureau's meeting on December 9, 2024, highlighted the implementation of more proactive macroeconomic policies, which is a shift from the previous year's focus on increasing macroeconomic control [2][7] - The meeting's emphasis on stabilizing the real estate and capital markets suggests potential measures to boost market confidence and activity [2][7] Group 2 - The report anticipates that the proactive policy stance will likely boost market sentiment in the short term, with a focus on transitioning towards consumption and real estate-related opportunities [2][7] - The meeting's call for "extraordinary counter-cyclical adjustments" reflects a strong commitment from decision-makers to stabilize the economy, indicating that fiscal and monetary policies in 2025 may be more aggressive than in 2024 [2][7] - The prioritization of expanding domestic demand in the economic agenda for 2025 is seen as a crucial response to external challenges, particularly in light of rising global trade protectionism [2][7]