政治局会议的三件大事

Economic Policy and Planning - The Politburo meeting announced the Fourth Plenary Session of the 19th Central Committee will be held in October, focusing on the "14th Five-Year Plan" and its alignment with the 2035 modernization goals[2] - The "14th Five-Year Plan" aims to set economic targets, particularly whether GDP quantitative goals will be restored, and to outline major engineering projects with significant investment scales[2][5] - The meeting emphasized a more positive internal economic outlook, shifting from "using policy tools effectively" to "implementing and optimizing" policies[5][7] Risk Management and Market Adjustments - The meeting highlighted the need to prevent the emergence of hidden debts and to effectively clear local financing platforms, aligning with the central government's focus on debt management as a core aspect of performance evaluation[5][7] - Adjustments were made to the "anti-involution" policy, clarifying that it does not equate to price hikes but rather focuses on orderly capacity governance in key industries like photovoltaics and new energy vehicles[3][8] - There is a risk of inadequate policy implementation leading to "运动式去产能" (campaign-style capacity reduction), which could create further issues in the economy[4][10] Future Economic Outlook - The economic growth targets for 2023-2025 are set at around 5%, reflecting a cautious approach amid global uncertainties[5][6] - The meeting did not mention new policy financial tools or direct risk prevention measures related to real estate, indicating a shift in focus towards high-quality urban renewal and new consumption growth points[5][6][7] - The potential for economic weakness in the third and fourth quarters is acknowledged, particularly as export demand may decline[10]