2025年7月政治局会议学习心得：稳中求进与保持定力

Economic Outlook - The meeting emphasizes that the "14th Five-Year Plan" period is a critical phase for achieving socialist modernization, highlighting the coexistence of strategic opportunities and risks [3][4] - The economic foundation is stable, with advantages in market size, industrial systems, and talent resources, supporting a long-term positive trend [3][4] - The focus has shifted from short-term recovery to long-term foundational strengthening, incorporating "new quality productivity" as a core indicator for high-quality development [4] Macro Policy - The meeting calls for sustained and timely macro policy efforts, with an emphasis on the consistency of fiscal and monetary policies [5][6] - Fiscal policy aims to accelerate government bond issuance and ensure the "three guarantees" at the grassroots level, while monetary policy focuses on maintaining liquidity and reducing financing costs [5] - The importance of enhancing the attractiveness and inclusivity of capital markets is reiterated [5] Domestic Demand - The meeting stresses the cultivation of new growth points in service consumption, linking the improvement of people's livelihoods directly to consumption expansion [6] - There is a shift in investment focus from government-led infrastructure to a dual-driven approach involving both public and private capital [6] Industrial Policy - The meeting introduces measures to govern disorderly competition and emphasizes the role of technological innovation in leading new quality productivity [7][9] - It calls for the regulation of local investment attraction behaviors and reinforces the support for private enterprises [7] Foreign Trade - The meeting highlights the construction of high-level free trade pilot zones and the promotion of integrated development of domestic and foreign trade [8] - It balances defensive and proactive strategies, emphasizing support for foreign trade enterprises while fostering institutional openness [8] Risk Mitigation - The meeting mandates a prohibition on new hidden debts and emphasizes the orderly clearance of local financing platforms [11] - It shifts focus from short-term inventory reduction in real estate to high-quality urban renewal and solidifying agricultural foundations [11]