两会｜首席经济学家把脉政策新信号！

Group 1 - The core viewpoint of the article emphasizes the pragmatic approach of the 2026 government work report, focusing on economic growth targets, structural reforms, and enhancing domestic demand [2][3][10] - The government has set a growth target of 4.5% to 5% for 2026, aligning with expectations from various foreign economists, indicating a shift towards high-quality development and effective economic growth [5][6][9] - The report highlights the importance of employment targets, with no relaxation in job creation and unemployment rate goals, signaling a focus on "re-inflation" and improving overall price levels [6][10] Group 2 - The macroeconomic policy focus is shifting from counter-cyclical adjustments to cross-cyclical adjustments, maintaining restraint on short-term stimulus while allowing for structural adjustments and risk prevention [8][9] - Fiscal support remains strong, with a projected budget deficit rate of around 4%, and the issuance of special bonds for infrastructure and asset repair is expected to remain substantial [9][10] - The emphasis on innovation and domestic demand is evident, with policies aimed at boosting service consumption and addressing "involution" in competition, which is expected to enhance market efficiency and innovation [10][12]