2026.01. 08 本文字数：1046，阅读时长大约2分钟 2025年12月10日至11日举行的中央经济工作会议明确提出，制定实施城乡居民增收计划。 作者 | 第一财经 林靖 近期，多地宣布今年起上调最低工资标准。 1月7日，陕西省人力资源和社会保障厅网站发布《关于调整最低工资标准的通知》，明确对全省最 低工资标准进行调整，新标准自2026年1月1日起正式施行。《通知》规定，月最低工资标准：一类 区2376元、二类区2250元、三类区2140元；非全日制用工的小时最低工资标准：一类区23元、二 类区21.7元、三类区20.7元。 第二经济大省江苏对全省最低工资标准进行调整，调整后的最低工资标准自2026年1月1日起执行。 此次调整，一、二、三类地区由现行的2490元、2260元、2010元分别调整为2660元、2430元、 2180元；非全日制用工小时最低工资标准一、二、三类地区由现行的24元、22元、20元分别调整为 25元、23元、21元。 浙江自2026年1月1日起调整全省最低工资标准，最低月工资标准分为2660元、2430元、2180元三 档，非全日制工作最低小时工资标准调整为25元、23元、21 ...

导语： 收入分配问题在保障和改善民生中居于重要位置，今年的中央经济工作会议明确提出， 制定实施城乡居民增收计划 。政策从去年的 面向中低收入群体的"增收减负"，升级为覆盖所有城乡居民的"增收计划"。这预示着收入分配制度或迎来重大变革。一方面，居民当下和预 期收入的增长是提振消费、扩大内需的关键动力，加快收入分配制度的改革，可以逐步壮大中等收入群体、改善低收入群体收入状况，为促 进居民消费率上升提供良好制度基础。另一方面，完善收入分配制度对于落实共享发展理念、扎实推进共同富裕、让现代化建设成果更多更 公平惠及全体人民具有重大意义。 为何要调整收入分配制度？ 收入分配调整进行了"政策升级" 从2024年中央经济工作会议的"推动中低收入群体增收减负"，到2025年的"制定实施城乡居民增收计划"，"推动"这个词其实意味 着是一个原则性的意见，而"制定实施"计划是具有可操作性的。从原则性到操作性，这是很大的变化。从中低收入群体一直到覆盖 整个城乡居民，覆盖范围也不一样。之前对于中低收入群体更多的是托底政策，而这次对整个城乡居民是一个全面提升的政策。这 三个维度能够看出来政策的进阶升级。 中国社会科学院经济政策研究中心主 ...

Core Viewpoint - The "15th Five-Year Plan" period is identified as a critical phase for China's economic development, emphasizing the need for comprehensive strategies to achieve modernization by 2035, with a focus on expectation management, income distribution reform, and the integration of investment in goods and people [3][4]. Group 1: Economic Development Strategies - The "15th Five-Year Plan" should reflect the transitional characteristics of the economy, aiming for a solid foundation and comprehensive efforts to meet the 2035 modernization goal [3]. - Emphasis on expectation management mechanisms, integrating them into macroeconomic analysis and policy frameworks [3]. - The need for reform in income distribution systems to establish a fair and just social security and transfer payment system [3]. Group 2: Macroeconomic Policies - The period will see peak levels in population, real estate demand, heavy industry scale, export volume, and carbon emissions, necessitating a combination of counter-cyclical and cross-cyclical macroeconomic policies for smooth transitions [4]. - High-quality development requires both qualitative improvements and reasonable quantitative growth, with a focus on maintaining economic growth while adjusting structures [4]. Group 3: Financial and Resource Management - The "debt-asset-resource" framework is proposed to revitalize existing economic structures, emphasizing the importance of resource liquidity and value creation [4]. - The need for financial theory innovation to support the development of a strong financial nation, addressing practical issues and enhancing core competitiveness [5]. Group 4: Fiscal Policy and Governance - Fiscal reforms are essential for national governance, requiring coordination between fiscal policies and other policy areas, while addressing structural issues in the medium to long term [5]. - The establishment of a budget system and tax system that aligns with responsibilities and powers is crucial for effective governance [5]. Group 5: Consumer-Focused Financial Systems - A consumer-friendly financial system is necessary to address the challenges in financial services and consumer behavior, promoting supply-side financial reforms and enhancing financial inclusivity [6]. - The significance of building a consumer-friendly financial system lies in guiding financial reforms and advancing inclusive finance [6]. Group 6: Forum Discussions - The conference featured six sub-forums discussing topics such as AI empowerment in think tank construction, economic growth and macroeconomic policies, fiscal policies and tax reforms, and the dual circulation development pattern [6].

中央经济工作会议将"必须坚持投资于物和投资于人紧密结合"作为重要规律性认识，这一要求首先对财 税体制改革提出了明确方向。 高培勇认为，财税体制需要向公共财政全面转型，核心是调整政府收支结构，实现资源配置的优化升 级。在存量调整方面，需通过政府支出结构的"此减彼增"腾挪资金，减少经济建设领域的"投资于物"支 出，增加社会福利、民生保障等"投资于人"的支出；在增量调整方面，应将每年通过赤字和发行国债筹 集的新增财源更多向民生领域倾斜，加大对消费提振、人力资本投入、民生保障等方面的支持力度。这 一转型并非简单的支出结构调整，而是财税体制功能的深刻变革——通过提高公共服务支出占比、增加 民生类投资比重，为居民消费能力提升和人力资本积累提供制度保障，最终形成"投资于人—能力提升 —收入增加—消费增长—经济提质"的良性循环。 消费作为经济增长的持久动力，其提振效果既取决于当期消费潜力的释放，更依赖长期消费能力的培 育。高培勇提出，当前消费需求不足的深层原因，在于收入和财富积累格局变化带来的未来预期不确定 性。中央经济工作会议将"制定实施城乡居民增收计划"作为建设强大国内市场的重要举措，正是对收入 分配制度改革创新的关键部 ...

Group 1 - The core viewpoint of the article emphasizes the upgrade of income increase policies from focusing on low- and middle-income groups to a comprehensive plan covering all urban and rural residents, aiming to enhance overall income levels and promote economic growth [2][4] - The National Development and Reform Commission highlights the importance of increasing residents' income share in national income distribution and labor remuneration in the initial distribution, aiming for synchronization between income growth and economic growth [2][3] - The article discusses the need for both short-term measures to boost employment and long-term reforms in income distribution and social security systems to ensure sustainable income growth for residents [2][5] Group 2 - Data from the National Bureau of Statistics indicates that the growth rate of per capita disposable income from 2020 to 2024 shows a general trend of synchronization with economic growth, with rates of 2.1%, 8.1%, 2.9%, 6.1%, and 5.1% respectively [3] - The article outlines the four sources of residents' income: labor remuneration, property income, operating income, and transfer income, with labor income accounting for 56.5% of disposable income in 2024 [6][7] - The importance of stabilizing employment is emphasized as a key factor influencing residents' income, with policies aimed at supporting various employment groups and enhancing social security for flexible employment workers [6][7] Group 3 - The article discusses the necessity of deepening income distribution reform as a long-term strategy to promote residents' income growth, focusing on a fair distribution system that rewards contributions [9][10] - It highlights the need for a balanced income distribution to address existing disparities, with a focus on increasing the share of residents' income in national income and improving the income of low-income groups [10][11] - The article suggests that enhancing the redistributive role of taxation and social security is crucial for addressing income inequality and supporting economic stability [10][11]

Group 1 - The core viewpoint of the article emphasizes the implementation of a rural-urban resident income increase plan, aiming to enhance the proportion of resident income in national income distribution [3][5][11] - The policy signal has evolved from "promoting" to "formulating and implementing," indicating a shift from focusing on low-income groups to encompassing all urban and rural residents [3][5] - The article highlights the necessity for reform due to deep-rooted contradictions in China's income distribution, including low resident income share and significant income disparity [5][8] Group 2 - The "14th Five-Year Plan" provides clear guidance on income distribution reform, advocating for a primary distribution mechanism based on market evaluation of contributions [9][11] - The article discusses the synchronization of three distribution methods: primary distribution, redistribution, and third distribution, emphasizing their coordinated development [11][13] - For ordinary workers, the article indicates that a more reasonable wage growth mechanism will be established, including collective wage negotiations and minimum wage adjustments [13][15] Group 3 - The article mentions that the capital market will play a crucial role in increasing residents' income and expanding domestic demand, with projected cash dividends for investors reaching 2.4 trillion yuan in 2024 [15] - It notes that the actual growth rate of per capita disposable income for rural residents is expected to exceed that of urban residents by 2.4 percentage points in 2024, indicating a gradual narrowing of the income gap [15] - The implementation of the rural-urban resident income increase plan is expected to lead to more successful agricultural products, similar to the "golden fruit" of Sichuan's citrus industry, benefiting the income of 1.4 billion Chinese people [15]

2025.12.16 本文字数：3209，阅读时长大约5分钟 作者 |第一财经 祝嫣然 今年的中央经济工作会议明确提出，制定实施城乡居民增收计划。政策从去年的面向中低收入群体 的"增收减负"，升级为覆盖所有城乡居民的"增收计划"。 国家发改委党组12月16日在《学习时报》发表题为《坚定实施扩大内需战略》的署名文章指出，实施城 乡居民增收计划，提高居民收入在国民收入分配中的比重，提高劳动报酬在初次分配中的比重，努力实 现居民收入和经济增长同步、劳动报酬提高和劳动生产率提高同步。加大直达消费者的普惠政策力度， 增加政府资金用于民生保障支出。 居民当下和预期收入的增长是提振消费、扩大内需的关键动力。业内专家认为，促进居民增收，不仅需 要短期内促就业、推动价格合理回升等举措，长期还需推动更多资金资源"投资于人"、推进完善收入分 配制度、社会保障制度等重大改革，要继续调整国民收入分配格局，规范初次分配，加大再分配调节力 度。此外，资本市场也可以在居民增收、扩大内需中发挥关键作用。 增收政策进阶升级 刘向东表示，此外还要促进资产价格合理止跌企稳，搞活资本市场，发挥股权投资的财富增值效应，推 动农村集体土地改革，提振居民财 ...

Core Viewpoint - The article emphasizes the implementation of a comprehensive urban and rural resident income increase plan, transitioning from a focus on low- and middle-income groups to a broader strategy aimed at all residents, which is expected to stimulate consumption and expand domestic demand [3][4]. Group 1: Policy Changes - The central economic work conference has shifted from "promoting income increase and reducing burdens" for low- and middle-income groups to "formulating and implementing a resident income increase plan" that covers all urban and rural residents, indicating a significant policy upgrade [4]. - The "14th Five-Year Plan" suggests a coordinated approach to promote employment, increase income, and stabilize expectations, with a focus on enhancing public service spending to boost consumer capacity [4][5]. Group 2: Income Sources and Employment - Resident income comprises four parts: labor remuneration, property income, operating income, and transfer income, with labor income accounting for 56.5% of disposable income in 2024 [7]. - Employment stability is prioritized, with measures to support key groups such as college graduates and migrant workers, and to encourage flexible employment participation in social insurance [8]. Group 3: Capital Market's Role - The capital market is seen as a crucial player in increasing resident income and expanding domestic demand, with expectations for a bull market to enhance consumer spending [9]. - The China Securities Regulatory Commission highlights the need for a diverse range of high-quality financial products to broaden channels for increasing residents' property income [9]. Group 4: Income Distribution Reform - Long-term reform of the income distribution system is essential for promoting resident income growth, with a focus on fair compensation based on contribution [11][12]. - The need for a balanced income distribution is emphasized, addressing issues of insufficient and unbalanced income distribution, particularly between urban and rural areas [12][13].

今年的中央经济工作会议明确提出，制定实施城乡居民增收计划。政策从去年的面向中低收入群体 的"增收减负"，升级为覆盖所有城乡居民的"增收计划"。 国家发改委党组12月16日在《学习时报》发表题为《坚定实施扩大内需战略》的署名文章指出，实施城 乡居民增收计划，提高居民收入在国民收入分配中的比重，提高劳动报酬在初次分配中的比重，努力实 现居民收入和经济增长同步、劳动报酬提高和劳动生产率提高同步。加大直达消费者的普惠政策力度， 增加政府资金用于民生保障支出。 居民当下和预期收入的增长是提振消费、扩大内需的关键动力。业内专家认为，促进居民增收，不仅需 要短期内促就业、推动价格合理回升等举措，长期还需推动更多资金资源"投资于人"、推进完善收入分 配制度、社会保障制度等重大改革，要继续调整国民收入分配格局，规范初次分配，加大再分配调节力 度。此外，资本市场也可以在居民增收、扩大内需中发挥关键作用。 增收政策进阶升级 国家统计局数据显示，2020年至2024年，全国居民人均可支配收入增速（扣除价格因素）分别为 2.1%、8.1%、2.9%、6.1%、5.1%，2025年前三季度为5.2%。居民收入增长和经济增长基本同步。 从 ...

Core Insights - The article emphasizes the strategic importance of expanding domestic demand as a key driver for economic growth and stability, highlighting the need for a comprehensive approach to enhance consumption and investment [1][3][12] Group 1: Economic Growth Drivers - Domestic demand, particularly consumption and investment, is identified as the primary engine for economic growth, with a projected retail sales total of 48.3 trillion yuan in 2024, reflecting a 3.5% year-on-year increase [2] - Fixed asset investment is expected to reach 52.1 trillion yuan in 2024, marking a 3.1% increase from the previous year, although investment growth remains sluggish due to long return cycles [2][9] Group 2: Consumption Enhancement - To address insufficient consumption, the focus should be on boosting consumer confidence and willingness, with strategies aimed at increasing income and employment opportunities [4][6] - A stable social security system is crucial for enhancing consumer confidence, which in turn supports consumption growth [6][7] Group 3: Investment Optimization - The article advocates for reforms in market access and investment management to stimulate effective investment, aiming to improve the quality of the supply system and align it with demand structures [9][10] - Emphasis is placed on creating a favorable investment environment to attract private capital into key projects and sectors [10][11] Group 4: Interconnection of Consumption and Investment - The relationship between consumption and investment is highlighted as mutually reinforcing, with strategies to enhance consumer demand leading to increased investment opportunities [12][13] - The article suggests that effective investment can create new demand, thereby driving consumption, particularly in emerging sectors such as digital and green industries [13]