2025，一直“在线”！

Core Viewpoint - The article emphasizes the importance of continuous research iteration to approach the truth, highlighting that growth comes from persistent denial and reconstruction in research [2][26]. Group 1: Research Framework and Goals - The team is undergoing a comprehensive upgrade in 2025, focusing on restructuring the research framework and systematically displaying research outcomes [2]. - The guiding principle is to provide valuable independent research results that are grounded in reality and actionable [2]. Group 2: Economic Insights - The article discusses the shift in the economic "three drivers" from manufacturing to services, indicating that as GDP per capita reaches $10,000 to $30,000 and urbanization hits 70%, service sector demand will accelerate [28]. - It notes that new consumption policies emphasize long-term strategies for domestic demand expansion rather than short-term stimuli, while also providing support for manufacturing to counter tariff impacts [29]. Group 3: Structural Reforms - The concept of "anti-involution" is presented as a new phase of supply-side structural reform, which is gaining more attention from both the government and industry, with a broader scope and stronger coordination [31].