川财证券研究所晨报

Core Insights - The report highlights the government's economic growth target for 2024 at approximately 5%, which is slightly lower than the 5.2% growth rate of 2023, indicating a focus on quality and efficiency in economic development [21][46][58] - Emphasis is placed on accelerating the development of a modern industrial system and enhancing new productive forces, with technology identified as a key driver for improving production efficiency and fostering high-quality development [3][58] Economic Indicators - In the first two months of 2024, the industrial added value of enterprises above designated size increased by 7.0% year-on-year, showing a slight acceleration compared to December 2023 [5][49] - The total retail sales of consumer goods reached 81,307 billion yuan in the same period, indicating a stable consumption environment [10] - Real estate development investment amounted to 1,184.2 billion yuan, reflecting a year-on-year decline of 9.0%, with residential investment down by 9.7% [11][49] Policy and Investment Strategies - The government plans to issue 1 trillion yuan in special long-term bonds this year to support major national strategies and enhance fiscal policy effectiveness [46][58] - The report suggests that expanding domestic demand and promoting consumption and investment are crucial for economic stability, with a focus on reducing high savings rates among residents [29] - High-level opening-up is emphasized as a strategy to attract foreign investment, particularly in light of expected pressures on exports due to global economic slowdowns [29]