Core Viewpoint - The article emphasizes the need for increased domestic demand policies to sustain economic growth in China during the 14th Five-Year Plan period, particularly focusing on enhancing consumer spending and stabilizing investment growth [1]. Group 1: Consumer Spending - The central economic work conference highlights the implementation of special actions to boost consumption in 2026, aiming to optimize policies and unleash the potential of service consumption [1]. - In 2025, China allocated 300 billion yuan in long-term special bonds to support the replacement of consumer goods, which is expected to drive significant growth in sectors like new energy vehicles and home appliances, thereby increasing retail sales [1]. - The current consumer spending rate in China is 39.9%, which is significantly lower than that of developed countries by 10-30 percentage points, indicating a need for substantial improvement [3][4]. Group 2: Investment Growth - Investment growth in China is projected to decline in 2025 due to various factors, including adjustments in the real estate market and external economic pressures, necessitating measures to stabilize and increase investment [1][11]. - The government is encouraged to increase central budget investments and optimize the implementation of key projects to support economic recovery [1]. - The article suggests that maintaining reasonable investment growth is crucial, especially in infrastructure and public services, to align with urbanization and industrialization processes [11][12]. Group 3: Income Growth and Middle-Income Group Expansion - The article discusses the importance of increasing residents' income to enhance consumer spending, advocating for a plan to raise income levels and improve the distribution of national income [7][8]. - The middle-income group, defined as households earning between 100,000 to 500,000 yuan annually, is crucial for driving consumption, with over 400 million people falling into this category [9]. - Expanding the middle-income group is expected to shift demand structures towards higher-end goods and services, thereby boosting overall domestic consumption [9]. Group 4: Policy Recommendations - To stabilize market expectations, the economic growth target for 2026 should be set around 5%, with a focus on implementing proactive fiscal and monetary policies [6]. - The article recommends various measures to stimulate consumption, including the continuation of replacement policies for consumer goods and the removal of unreasonable consumption restrictions [10]. - It emphasizes the need for structural reforms and increased government investment to enhance public welfare and stimulate private sector investment [13][14].

系列报道之四 12月17日，第二十七届哈尔滨冰雪大世界开园，正式点燃哈尔滨冰雪旅游季。12月以来，哈尔滨冰雪大 世界相关搜索热度持续攀升，哈尔滨一度登上同程旅行平台冬季热门旅游目的地榜首。 除了东北地区，近年来冰雪旅游热正在越来越多的城市"上演"，文旅热带动消费热、产业热，撬动 了"冷资源"背后的冰雪经济。国务院办公厅此前印发的《关于以冰雪运动高质量发展激发冰雪经济活力 的若干意见》明确，到2027年冰雪经济总规模达到1.2万亿元，到2030年达到1.5万亿元。 哈尔滨索菲亚大教堂，游客正在旅拍。 冰天雪地带动的消费热潮恰恰彰显了我国扩内需的潜力。前不久召开的中央经济工作会议指出，明年经 济工作要坚持内需主导，建设强大国内市场，并对提振消费提出了多项具体举措。该如何理解中央经济 工作会议对明年坚持内需主导、提振消费的部署？南都N视频记者就此采访了同济大学特聘教授、中国 国家创新与发展战略研究会副会长刘兴华。 同济大学特聘教授、中国国家创新与发展战略研究会副会长刘兴华。 中央经济工作会议首提"内需主导"，"国补"政策将优化 南都：今年的中央经济工作会议将"坚持内需主导，建设强大国内市场"列为明年经济工作的"头号 ...

明年要着眼惠民生增后劲，推动投资止跌回稳。当前投资出现下滑，但我国在科技创新、产业升级、基础设施、改善民生等方面还有不少短板弱 项。要把投资于物和投资于人相结合，统筹提振消费和扩大投资，加快建设停车场、充电桩、旅游公路等消费基础设施，提高养老、托育、医疗等 民生类投资比重，高质量推进城市更新，着力扩大有效投资。要有效发挥政府投资带动作用，用好中央预算内投资、超长期特别国债、地方政府专 项债券等资金，优化实施"两重"项目，靠前实施具备条件的"十五五"重大项目，发挥重大工程牵引带动作用。要激发民间投资活力，落实好进一步促 进民间投资发展的若干措施，支持民营企业参与铁路、核电等领域重大项目，引导民间投资向高技术、服务业等新赛道拓展，以更实举措增强民间 投资信心。 据新华社，针对内需发展现状如何？提振消费、扩大投资的空间和动力在哪里？ 中央财办有关负责同志表示，扩大内需是明年排在首位的重点任 务。 今年我国内需总体保持稳健，前三季度内需对经济增长贡献率达到71%。提振消费政策成效明显，扩大有效投资扎实推进。我们也注意到，近 几个月消费和投资增速有所放缓，需要持续加力扩内需。 明年要把握消费的结构性变化，从供需两侧发力 ...

（原标题：中央财办有关负责同志详解2025年中央经济工作会议精神） 人民财讯12月16日电，当前经济形势怎么看？"十五五"新开局重点任务如何推进？聚焦舆论关注的热点 问题，中央财办有关负责同志会后第一时间接受中央主要媒体采访，深入解读中央经济工作会议精神。 问：内需发展现状如何？提振消费、扩大投资的空间和动力在哪里？ 答：扩大内需是明年排在首位的重点任务。今年我国内需总体保持稳健，前三季度内需对经济增长贡献 率达到71%。提振消费政策成效明显，扩大有效投资扎实推进。我们也注意到，近几个月消费和投资增 速有所放缓，需要持续加力扩内需。 人民财讯12月16日电，当前经济形势怎么看？"十五五"新开局重点任务如何推进？聚焦舆论关注的热点 问题，中央财办有关负责同志会后第一时间接受中央主要媒体采访，深入解读中央经济工作会议精神。 问：内需发展现状如何？提振消费、扩大投资的空间和动力在哪里？ 答：扩大内需是明年排在首位的重点任务。今年我国内需总体保持稳健，前三季度内需对经济增长贡献 率达到71%。提振消费政策成效明显，扩大有效投资扎实推进。我们也注意到，近几个月消费和投资增 速有所放缓，需要持续加力扩内需。 明年要把握消 ...

明年要着眼惠民生增后劲，推动投资止跌回稳。当前投资出现下滑，但我国在科技创新、产业升级、基 础设施、改善民生等方面还有不少短板弱项。要把投资于物和投资于人相结合，统筹提振消费和扩大投 资，加快建设停车场、充电桩、旅游公路等消费基础设施，提高养老、托育、医疗等民生类投资比重， 高质量推进城市更新，着力扩大有效投资。要有效发挥政府投资带动作用，用好中央预算内投资、超长 期特别国债、地方政府专项债券等资金，优化实施"两重"项目，靠前实施具备条件的"十五五"重大项 目，发挥重大工程牵引带动作用。要激发民间投资活力，落实好进一步促进民间投资发展的若干措施， 支持民营企业参与铁路、核电等领域重大项目，引导民间投资向高技术、服务业等新赛道拓展，以更实 举措增强民间投资信心。 （文章来源：新华社） 针对内需发展现状如何？提振消费、扩大投资的空间和动力在哪里？中央财办有关负责同志表示，扩大 内需是明年排在首位的重点任务。今年我国内需总体保持稳健，前三季度内需对经济增长贡献率达到 71%。提振消费政策成效明显，扩大有效投资扎实推进。我们也注意到，近几个月消费和投资增速有所 放缓，需要持续加力扩内需。 明年要把握消费的结构性变化， ...

Core Viewpoint - The National Development and Reform Commission (NDRC) is actively promoting new policy financial tools with a total scale of 500 billion yuan, aimed at supplementing project capital [2][3] Group 1: Financial Tools and Investment Impact - The new policy financial tools are expected to leverage approximately 6 trillion yuan in investments, which is about 24.4% of the total infrastructure investment for 2024 [3] - It is anticipated that these tools will boost infrastructure investment growth by 3 to 4 percentage points annually over the next three years [3] - The tools will primarily target infrastructure projects that can start construction this year and have matching revenue and debt repayment capabilities [3][4] Group 2: Economic Context and Rationale - The introduction of these financial tools comes in response to declining investment growth due to external environment fluctuations and tight local government finances [4] - Fixed asset investment growth was only 0.5% year-on-year in the first eight months, with infrastructure investment growth at 2.0% [4] - The urgency to reverse the downward trend in investment growth has increased, especially in light of high tariffs affecting global trade and domestic economic pressures [4] Group 3: Project Preparation and Focus Areas - Local governments have already begun preparing multiple rounds of eligible projects, including traditional infrastructure, technology, green low-carbon, and logistics projects [3][4] - The new financial tools will focus on supporting technology innovation and consumer infrastructure, aligning with national investment priorities [4] - There is potential for interest subsidies from the government for these new financial tools, differentiating them from previous similar initiatives [4]

Group 1 - The core theme of the forum is "Financial Strong Momentum, New Picture of the Bay Area," emphasizing the need for comprehensive measures to effectively release domestic demand potential during the upcoming "14th Five-Year Plan" period [1] - The main contradiction in economic operation is gradually shifting from the supply side to the demand side, indicating that resolving demand issues is crucial for smooth economic circulation and stable development [1] - The long-standing low consumption rate among Chinese residents is attributed to insufficient social security, unstable expectations, and weak consumer confidence, which have been exacerbated by changes in investment and export demand [1][2] Group 2 - To address the structurally low consumption rate, it is essential to significantly improve social security levels, fostering a long-term sense of security among residents [2] - Investment potential remains substantial across various sectors, including traditional industry upgrades, strategic emerging industries, and infrastructure projects, necessitating innovative and optimized policy environments [2] - Policies aimed at stabilizing expectations and invigorating private enterprises should be effectively implemented, including the development of detailed regulations following the introduction of the "Private Economy Promotion Law" [3] Group 3 - Financial support is critical for the development of the real economy, as it must address the challenges faced by the real economy to achieve its own growth [3] - The Guangdong-Hong Kong-Macao Greater Bay Area is positioned as a leader in reform, opening up, innovation, and development, with a focus on exploring ways to effectively release domestic demand potential through institutional innovation [3]

Core Viewpoint - The meeting held by the Shaanxi provincial government emphasizes the need to focus on key tasks to stabilize industrial growth and enhance service sector potential while implementing national policies [1] Group 1: Economic Growth Initiatives - The government aims to stabilize industrial growth and continuously release the potential of the service sector [1] - There is a commitment to expand investment and boost consumption through multiple measures [1] - Key project construction will be prioritized to support economic recovery [1] Group 2: Employment and Social Stability - The government will focus on stabilizing employment for key groups, particularly recent college graduates [1] - Efforts will be made to promote comprehensive rural revitalization [1] Group 3: Safety and Preparedness - The meeting highlighted the importance of flood prevention, safety production, and ensuring electricity supply during peak summer [1] - Continuous efforts will be made to consolidate and expand the positive momentum of economic recovery [1]

Core Viewpoint - Guangdong is accelerating investment and major project construction to boost economic growth, with a focus on strategic and essential projects [3][4]. Investment and Project Progress - In the first half of the year, Guangdong's key projects completed an investment of 570.4 billion yuan, achieving 57% of the annual investment plan [3]. - The province has planned 1 trillion yuan in annual investment for 2025, with 1,500 key construction projects scheduled [3]. - A total of 117 key provincial projects, including the Fuzhao Yun Expressway and Hong Kong University of Science and Technology (Guangzhou) Phase II, have commenced construction [4]. Strategic Focus Areas - Guangdong aims to invest in new projects, address gaps, and focus on human capital in the second half of the year [3][7]. - The province is prioritizing projects that enhance structure, fill shortfalls, and benefit people's livelihoods [3]. Major Projects and Initiatives - The Huangmaoxia Reservoir project, with an estimated investment of 13.5 billion yuan, has begun construction, emphasizing the importance of major projects in driving investment [6]. - Other key projects include the Guangzhan High-speed Railway and the Eastern Guangdong Intercity Railway, which are set to accelerate construction [6]. Private Investment Promotion - Zhuhai has introduced a list of 24 projects aimed at attracting private capital, with a total investment of approximately 37 billion yuan, including various sectors such as highways and renewable energy [5].

Group 1 - Guangdong province plans to arrange 1,500 key construction projects by 2025, with an annual investment target of 1 trillion yuan [2] - In the first half of the year, Guangdong's key projects completed an investment of 570.4 billion yuan, achieving 57% of the annual plan [2] - A total of 117 key provincial projects, including the Fozhao-Yun Expressway and Hong Kong University of Science and Technology (Guangzhou) Phase II, have commenced construction in the first half of the year [3] Group 2 - The Yellow Meizhou Reservoir project, with an estimated total investment of 13.5 billion yuan, has begun construction, signaling a strong push for major project development [5] - Guangdong's fixed asset investment decreased by 9.7% year-on-year in the first half of the year, with real estate development investment down by 16.3% [5] - The province aims to enhance investment by focusing on new projects, addressing gaps, and investing in human resources, while also improving resource allocation and removing obstacles to project implementation [6]