7月中央政治局会议学习理解：“十五五”启幕，蓝图绘新篇

Economic Performance - China's GDP growth rate for the first half of 2025 reached 5.3%, exceeding the annual target, demonstrating strong economic resilience despite external challenges[2] - The meeting emphasized the need to maintain a bottom-line thinking approach and enhance awareness of potential risks, while removing references to increased external shocks[2] Policy Direction - The Central Political Bureau meeting highlighted the importance of maintaining policy continuity and stability, while enhancing flexibility and foresight in economic policies[3] - Macro policies are expected to continue to exert force and be adjusted as necessary, with a focus on supporting major economic provinces to drive national growth[4] Investment and Consumption - The meeting stressed the importance of high-quality investment and the prohibition of new hidden debts, while promoting high-quality urban renewal and infrastructure projects[6] - There is a renewed focus on expanding service consumption and improving living standards, linking consumption policies with social welfare initiatives[5] Structural Adjustments - The meeting reiterated the significance of promoting domestic and international dual circulation, with an emphasis on stabilizing domestic demand following export boosts[3] - Structural monetary policy tools will be utilized to lower overall financing costs and support sectors like technology innovation and consumer services[4] Risk Management - The report warns of potential risks from unexpected economic changes and policy shifts that could impact domestic demand recovery[15]