二十届四中全会公报要点解读：自主创新和科技自立自强是“十五五”期间的战略主轴

Economic Environment - The "15th Five-Year" period faces complex changes in the development environment, with both strategic opportunities and risks present[1] - External challenges include increased tariffs from the US and restrictions on high-tech imports, necessitating a focus on technological self-reliance[1][2] Strategic Planning - The core strategy for the "15th Five-Year" plan is to enhance independent innovation and technological self-reliance, supported by a modern industrial system centered on advanced manufacturing[2][3] - The plan emphasizes the need to expand domestic demand, boost consumption, and reduce reliance on foreign markets[4] Economic Growth Targets - The focus will shift from high-speed growth to high-quality development, with no specific GDP growth targets set for the next five years[5] - The average GDP growth rate during the "14th Five-Year" period was 5.4%, with projections for the "15th Five-Year" period to be between 4.5% and 5.0%[5] Fiscal and Monetary Policy - The fiscal policy will prioritize funding for major national strategies, focusing on modern industrial systems and increasing technology spending[6][7] - Monetary policy will aim for stability and flexibility, with an emphasis on supporting technology-driven sectors and managing economic cycles[8] Immediate Policy Actions - There is an expectation for macroeconomic policies to intensify in the fourth quarter to stabilize growth, including new fiscal measures and potential interest rate cuts[9]