宋雪涛：对当前政策的判断

Core Viewpoint - The article emphasizes the balance between short-term and long-term economic goals, with a focus on achieving a 5% economic growth target while promoting reforms and technological innovation to enhance economic efficiency and potential growth space [2][3]. Consumption - The "trade-in" policy has seen a significant increase in usage, with daily purchase volumes for various products rising substantially from early 2024 to late May, including a 61.2% increase in automobiles and a 95.7% increase in home appliances [4][8]. - There is currently 138 billion yuan in national subsidy funds for trade-ins that have not yet been allocated, with plans for further disbursement in July and October [4][8]. - The government is also focusing on preventing fraud in subsidy claims, with measures to ensure compliance and proper implementation of the trade-in policy [7]. Consumer Policy - Recent consumer policies are shifting towards establishing long-term mechanisms rather than short-term stimulus, with an emphasis on improving the consumption environment and infrastructure [9][10]. - Enhancing the income distribution mechanism to increase earnings for low-income groups is crucial for boosting consumption [11]. Real Estate - The real estate market is currently weak, with a 4.6% year-on-year decline in residential sales area in May, but there is a push for structural reforms to improve the quality of housing supply [14][15]. - The government aims to promote the construction of high-quality housing and to revitalize existing land and projects to address inventory issues [14][15]. Reform - Recent reforms focus on improving public services and linking them to population metrics, with a clear intention to accelerate the implementation of previously outlined reform measures [16][18]. Financial Support - There is an increasing emphasis on supporting technology and manufacturing sectors, with new financial tools expected to be introduced to facilitate investment in these areas [19][20]. - The government is also promoting the development of technology innovation bonds to support the financing of tech and manufacturing projects [21][22].