政治局会议内容及回顾

Summary of Politburo Meeting Content and Review 1. Meeting Summaries - 2025/7/30 Meeting: China's economy has made new achievements in high - quality development, with major economic indicators performing well, new - quality productivity actively developing, and reform and opening - up deepening. However, it still faces risks and challenges. The focus is on maintaining policy continuity and flexibility, stabilizing employment, enterprises, markets, and expectations, and promoting domestic and international double - circulation to achieve the "14th Five - Year Plan" finalization [2]. - 2025/4/25 Meeting: The economy shows a positive trend, but the foundation for continuous recovery needs further consolidation. Policies should be more actively implemented, and efforts should be made to stabilize employment, enterprises, markets, and expectations, and deal with external impacts [2]. - 2024/12/9 Meeting: The economy has run steadily with progress, and the main goals of economic and social development for the year will be smoothly achieved. Next year, it is necessary to strengthen counter - cyclical adjustment, promote high - quality development, and lay a solid foundation for the "15th Five - Year Plan" [2]. 2. Policy Directions Macroeconomic Policy - General Tone: All meetings emphasize the need for proactive macro - policies. In 2025/7/30 and 2025/4/25, it is about implementing and making full use of active fiscal and moderately loose monetary policies. In 2024/12/9, it focuses on super - conventional counter - cyclical adjustment [2]. - Fiscal Policy: All meetings stress positive fiscal policies, including accelerating the issuance and use of government bonds and ensuring the "three guarantees" at the grass - roots level [2]. - Monetary Policy: Meetings advocate maintaining liquidity, with 2025/4/25 specifically mentioning timely reserve requirement ratio cuts and interest rate cuts, and all meetings highlighting support for key areas through structural monetary policy tools [2]. Industry Policy - New - Quality Productivity: Promote the development of new - quality productivity through technological innovation and industry - innovation integration, and cultivate emerging pillar industries [2]. - Competition Order: Regulate competition order, manage over - capacity in key industries, and standardize local investment promotion [2]. Domestic Demand Expansion - Consumption: Stimulate consumption through various means such as increasing the income of low - and middle - income groups, developing service consumption, and implementing consumption promotion campaigns [2]. - Investment: Promote "two - major" construction, expand effective investment, and stimulate private investment [2]. Risk Resolution - All meetings stress the need to prevent and resolve key - area risks, especially local government debt risks, and ensure no systemic risks [2]. Other Key Areas - Reform and Opening - up: Deepen reform, expand high - level opening - up, and stabilize foreign trade and investment [2]. - Agriculture, Rural Areas, and Farmers: Strengthen the "three rural" work, stabilize agricultural product prices, and promote rural development [2]. - Employment: Implement employment - priority policies to promote the employment of key groups [2]. - Real Estate: Promote the stable development of the real estate market and build a new development model [2]. - Capital Market: Strengthen the attractiveness and stability of the capital market [2].