两会前瞻：坚持扩大内需，推动科技创新

Economic Outlook - The 2026 National People's Congress (NPC) is expected to set the economic growth target at around 5%[9] - The Consumer Price Index (CPI) target for 2026 is anticipated to remain at approximately 2%[9] - The fiscal deficit rate is likely to be maintained at around 4%[12] Monetary Policy - The monetary policy will remain flexible, with potential for interest rate cuts and reserve requirement ratio (RRR) reductions depending on economic growth and inflation trends[15] - The central bank's actions in 2025 included a 0.1 percentage point cut in the 7-day reverse repurchase rate and a 0.5 percentage point reduction in the RRR[15] Domestic Demand and Innovation - Expanding domestic demand and boosting consumption are prioritized government tasks for 2026[16] - The government aims to promote technological innovation and the development of artificial intelligence as key focuses for the year[22] Risks - Potential risks include macroeconomic policies falling short of expectations, a downturn in the real estate market, and escalating geopolitical tensions[36]