12月政治局会议点评：供给再优化，存量要挖潜

Economic Goals and Strategies - The 2026 economic work will maintain high target settings to ensure sustainable high-quality development, balancing "hard power" and "soft power" while optimizing resource utilization[3][19] - The growth target for 2026 is expected to remain high, reflecting the resilience of economic growth and guiding positive societal expectations[4][19] Hard and Soft Power Development - The enhancement of national comprehensive strength requires a balance between economic, technological, and defense "hard power" and cultural, institutional, and diplomatic "soft power"[5][20] - Policies supporting the development of "soft power" are anticipated during the 14th Five-Year Plan period, focusing on quality cultural products and services[5][20] Supply-Side Reforms and Employment - The new round of supply-side reforms will focus on optimizing supply and utilizing existing capacity, addressing "overcapacity" as a resource to be developed[7][24] - Emphasis on "stabilizing employment" as a priority, with policies aimed at creating new job opportunities and addressing structural unemployment among youth[9][29] Policy Implementation and Coordination - Effective policy implementation is crucial, requiring sustained efforts over time to ensure that policies benefit individuals and businesses[10][30] - The focus on policy synergy emphasizes the need for new policies to align with existing ones, avoiding conflicts and ensuring comprehensive implementation[11][31] Domestic Market Strengthening - The domestic market must not only be large but also resilient, with a focus on enhancing internal demand and ensuring supply chain security[12][35] - Building a strong domestic market involves diversifying supply and fostering innovation to make consumption a leading force in domestic demand growth[12][35] Social Welfare and Living Standards - Continuous improvement of living standards is essential, with a focus on social security mechanisms to provide a safety net for citizens[13][36] - The government aims to enhance overall living quality while addressing specific local needs through grassroots initiatives[13][36] Risk Considerations - Potential risks include fiscal and monetary policies falling short of expectations, unexpected downturns in the real estate market, and complex external environments[14][37][38]