7月中央政治局会议解读：7月政治局会议召开六大信号值得关注

Economic Performance - In the first half of the year, GDP growth reached 5.3%, exceeding the annual target of 5%[4] - Retail sales growth was recorded at 5%, indicating a stable economic performance[4] Economic Challenges - Consumer demand remains weak, with real estate sales experiencing a decline in both volume and price[5] - External uncertainties have increased, leading to a marginal decline in exports[5] Policy Direction - The macroeconomic policy will continue to focus on "dual easing," with an emphasis on "sustained efforts and timely increases" in fiscal and monetary policies[2] - Structural monetary policies are expected to be the main tool for ensuring market liquidity in the second half of the year[5] Key Signals for Economic Development - The meeting highlighted six key signals, with a focus on the shift from goods consumption to service consumption and the deep integration of technology and industry[2] - The importance of service consumption is emphasized, with initiatives to stimulate demand in sectors like culture and tourism[6] Sector Focus - Investment recommendations include technology (computers, chips) and service-oriented consumption (cultural tourism, entertainment) as primary focus areas[2] - The infrastructure sector is expected to benefit from urban renewal initiatives and the acceleration of special government bonds[6] Financial Market Outlook - The capital market is expected to remain stable, with continued support for the financial sector under a loose liquidity environment[7] - Recommendations include focusing on brokerage and insurance sectors as potential investment opportunities[7]