政策专题：2026年政府工作报告怎么看？对A股有哪些指引？

Government Work Report Analysis - The main economic targets set in the government work report are generally in line with expectations, with a GDP growth target of 4.5%-5% and a consumer price increase of around 2% [11][12] - The broad debt scale is approximately 11.89 trillion yuan, with a slight decrease of 30 billion yuan from last year, and a broad debt ratio of about 8.07% [8][13] - The report emphasizes the importance of future energy, marking it as a new focus area, which includes nuclear energy, nuclear fusion, and hydrogen energy [3][28] Fiscal Policy - The fiscal deficit is set at 5.89 trillion yuan, an increase of 230 billion yuan from the previous year, with plans to issue 1.3 trillion yuan in long-term special bonds to support key projects [13][20] - The report includes a 1 trillion yuan special fund for fiscal-financial collaboration to stimulate domestic demand [26][27] Monetary Policy - The monetary policy continues to follow the central economic work conference's deployment, maintaining a stable overall tone [21][22] Key Tasks - The report indicates an adjustment in key tasks, with a higher priority on safeguarding people's livelihoods and a lower emphasis on dual carbon goals [24][25] Expansion of Domestic Demand - The report proposes a 2.5 trillion yuan support for consumer goods replacement, which is a reduction of 500 billion yuan from last year, and plans to issue 8 trillion yuan in policy financial instruments [26][27] Industry Policy - The concept of "future energy" is officially included in the report, suggesting a focus on new productive forces and future industries [28] Real Estate Policy - The real estate policy continues to follow previous guidelines, emphasizing city-specific measures to control increments, reduce inventory, and optimize supply [29][30] Dual Carbon Goals - The report reiterates the commitment to green and low-carbon development, establishing a national low-carbon transition fund to promote green transformation [30][31]