Core Viewpoint - The Central Economic Work Conference has outlined eight key tasks for economic work in 2026, focusing on domestic demand, innovation, reform, openness, coordinated development, green transformation, improving people's livelihoods, and risk management [1] Group 1: Domestic Demand and Market Development - Emphasis on maintaining domestic demand as the primary driver and building a strong domestic market [1] Group 2: Innovation and New Momentum - Focus on innovation-driven strategies to cultivate and strengthen new growth drivers [1] Group 3: Reform and High-Quality Development - Commitment to reform efforts aimed at enhancing the vitality and momentum for high-quality development [1] Group 4: Openness and Cooperation - Advocacy for sustained openness to promote win-win cooperation across multiple fields [1] Group 5: Coordinated Development - Promotion of coordinated development to facilitate urban-rural integration and regional collaboration [1] Group 6: Green Transformation - Leadership in "dual carbon" initiatives to drive comprehensive green transformation [1] Group 7: Livelihood Improvement - Prioritization of people's livelihoods with efforts to address practical issues for the populace [1] Group 8: Risk Management - Focus on maintaining bottom lines and actively managing risks in key areas [1]

Core Viewpoint - The Central Economic Work Conference held on December 10-11 in Beijing outlined key tasks for economic work in the coming year, emphasizing a focus on domestic demand, innovation, reform, openness, coordinated development, green transformation, people's livelihood, and risk management [1] Group 1: Economic Focus Areas - Emphasis on domestic demand as the main driver to build a strong domestic market [1] - Innovation-driven approach to accelerate the cultivation and growth of new economic drivers [1] - Commitment to reform efforts to enhance the vitality and momentum for high-quality development [1] Group 2: External Relations and Development - Focus on promoting cooperation and win-win outcomes in multiple fields through openness [1] - Coordination in development to promote urban-rural integration and regional linkage [1] Group 3: Sustainability and Social Welfare - Leadership in "dual carbon" initiatives to promote comprehensive green transformation [1] - Prioritization of people's livelihood with efforts to address practical issues for the populace [1] Group 4: Risk Management - Commitment to maintaining a bottom line by actively and prudently addressing risks in key areas [1]

Core Viewpoint - The central economic work conference held on December 10-11, 2023, emphasized the importance of utilizing fiscal and monetary policies effectively to achieve the goals set for 2026, marking the beginning of the "15th Five-Year Plan" [2][4]. Group 1: Economic Policy Direction - The conference reiterated the implementation of a more proactive fiscal policy and moderately loose monetary policy, aiming to enhance macroeconomic governance effectiveness [2][4]. - The "Eight Persistences" were highlighted as key strategies for economic work in 2026, focusing on domestic demand, innovation, reform, openness, coordinated development, carbon neutrality, people's livelihood, and risk management [3][4]. Group 2: Implementation Strategies - Fiscal and monetary policies are expected to work in tandem to support the "Eight Persistences," with fiscal funds directed towards infrastructure and innovation, while monetary policy aims to provide low-cost funding to high-tech enterprises [4][5]. - Specific measures include fiscal support for necessary reforms, maintaining a stable financial environment, and promoting regional balance and rural revitalization through targeted fiscal transfers [5][6]. Group 3: Long-term Goals - The success of China's economic development in 2026 will not solely be measured by GDP growth but also by the integration of macro policy resources with the strategic layout of the "Eight Persistences" [6]. - The proactive policies are seen as essential for navigating complex challenges and ensuring a strong start to the "15th Five-Year Plan" [6].

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位。(3) 短纤价格继续跟随成本紧密波动。 能源化 (1) 苯乙烯市场整体维持窄幅震荡。 (2) 出口的讨论提供一定 支撑,但聚合物市场销售疲软。(3)美国汽油需求转弱,调油料 价格下行,高辛烷值组分价格下行。 (1) 出口情绪稍缓, 内需不足上方空间有限。 (2) 下方有反内 尿素 卷及成本端支撑。 (1) 检修减少,开工负荷高位。(2)远洋到港,供应增加。( 3) 下游需求开工走弱。（4）原油价格走低,油制成本下降。 (1) 检修较少,开工负荷较高,供应压力偏大。(2) 下游改善 不及预期。(3)丙烯单体高位,成本支撑较强。(4)原油价格 走低,油制成本下降。 (1) 盘面回归基本面。 (2)后续检修较少,新产能放量,供应 PVC 压力攀升。 需求减弱, 订单不佳。 (1) 广西氧化铝投前开始送货,部分氧化铝厂延迟投产,采购节 奏放缓。（2）开工负荷较高,检修较少。(3)山东烧碱存在累 库压力,液氯价格居高不下。(4)临近交割月,01合约持仓异 常,出现空逼多现象。 (1) 地缘/关税缓和,国际油气回归基本面宽松逻辑。(2) CP/ FEI近期回补修复上行。(3)华南茂名石化乙烯装置计划检修, 届时至1月 ...

tion of the w K # 17 10 all of the relation and Bank t = 30 DINGTON 1 10 01 11 日 01 100 al = 中國日 1 al 1 1 1 1 1 1 1 1 1 1 i 11 一周五 10 8-3" 85 ll E. 哥哥 126 2025年12月8日，中共中央政治局会议为2026年经济工作定下"稳中求进、提质增效"的总基调，"更加积极有为的宏观政策"与"坚持内需主导"等八大部署形 成清晰政策框架。恰逢美联储议息会议启幕，外部货币政策环境的潜在宽松窗口，与国内政策的精准发力形成呼应。在"十五五"开局的关键节点，内外因素 的协同共振，让2026年中国经济质的有效提升与量的合理增长路径愈发清晰。 政治局会议释放的核心信号，是宏观政策将延续"积极+宽松"组合并强化协同效应。这一基调的确立，既基于2026年作为"十五五"开局之年的发展需求，也 源于对经济运行主要矛盾的精准把握。会议明确的"更加积极的财政政策和适度宽松的货币政策"双轮驱动，为经济增长提供了稳定预期。 更加积极的财政政策将在支出力度与可持续性之间寻求精准平衡。粤开证券首席经济学 ...

（来源：燕财局） 咱们国家一年当中有4次重要经济研判会议和1次核心年度经济会议，而五次之中2次通常集中在12月。 前者的4次都由政治局主持召开，时间通常在每年的4月、7月、10月和12月，对当前经济形势进行分析和研判，尤其是12月那场通常专门研究下一年经济 工作，并为接下来（也在12月）的中央经济工作会议做准备。 后者的1次核心年度经济会议，也就是中央经济工作会议，主要任务是总结当年经济工作，分析研判经济形势，并部署下一年的经济发展规划。 换言之，今年12月有两场会议，第一场是政治局会议，这场会议会专门分析研判2026年该怎么走，给2026年经济工作定调；第二场则是之后的中央经济会 议，这场会议会完善更多的执行细则。 明眼人都能看出来，显然12月的这场政治局经济会议尤为重要，因为它将直接关系到房贷利息会不会降、收入会不会涨、养老金和育儿补贴会不会增加， 国家政策将重点向哪些产业行业板块倾斜，等等。 相当于是对2026年经济宏观政策的抢先预告，分量可以说几乎是全年之最。 上到企商界佬、投资精英，下到炒股的牛散，甚至都要逐字研究每句话背后的含义。 作者 | 燕大 12月重磅会议，给2026年经济划下大方向！ 而昨 ...

会议将"坚持内需主导，建设强大国内市场"放在了重要位置，这表明有效需求不足仍是当前短期经济工作需破解的主要问题，需通过纵深推进全国统一大市 场建设、打造强大国内市场加以解决。"纵深推进"的用词就意味着明年推进的力度会加大。接下来，地方保护、区域壁垒会进一步打破，要素流动会更加顺 畅。 中共中央政治局昨天召开会议，分析研究2026年经济工作。这个重要会议定调了"十五五"开局之年的经济工作，极为重要。会议有哪些需要关注的重点工 作？ 会议还提出"更好统筹国内经济工作和国际经贸斗争"。面对复杂的国际环境，我们既要开放合作，也要守住自身利益，应对不确定性更有底气。 新的一年，中国经济的潜力将进一步释放，无论是企业还是个人，都会在更多领域迎来新的发展机遇。 监制丨岳群制片人丨朱继华 赵曙光记者丨王雷 摄像丨崔学峰编辑丨杨一郎 张昊 首先来看对宏观政策的定调：更加积极的财政政策+适度宽松的货币政策，延续了去年的政策。 记者对比了今年和去年的文件，也请教了经济学家。大家都认为明年政策支持力度不会减。特别是这次强调了要发挥集成效应，既要让存量政策，也就是已 经出台的政策更好地发力见效，也会出台新政策解决新问题。还要让二者形成 ...

Group 1: Stock Market Activity - On the institutional leaderboard, 41 stocks were listed, with 23 seeing net purchases and 18 experiencing net sales [1] - The top three stocks with the highest net purchases were Dekoli (175 million), Tongyu Communication (70.7 million), and Haixin Food (64.93 million) [1] - Dekoli's stock price increased by 20.00%, while Tongyu Communication's decreased by 8.30%, and Haixin Food's rose by 8.43% [2] Group 2: Economic Policy Insights - The Central Political Bureau's meeting emphasized the importance of expanding domestic demand and optimizing supply, indicating a shift towards a more integrated approach to consumption and investment policies [3] - The meeting highlighted the need for local governments to have greater flexibility in implementing policies to boost consumption and investment, rather than focusing solely on consumption [3] - The policy framework continues to prioritize domestic demand, with a clear goal of increasing the resident consumption rate significantly [4] Group 3: Company Profiles - Dekoli is a company involved in the optical transmission industry, with its 400G coherent module having achieved small-scale trial production and receiving overseas sample orders for silicon-based OCS [2] - Xiamen Port Authority operates the largest port terminal in Xiamen and benefits from the development of the Haixi Free Trade Zone [5] - Shuhua Sports, based in Quanzhou, is recognized as one of the leading manufacturers of fitness equipment and display racks in China [5]

12月8日，中共中央政治局召开会议，分析研究2026年经济工作。会议总结分析今年经济工作，对明年 经济工作作出一系列重要部署。 围绕做好明年经济工作，会议指出，"要坚持稳中求进、提质增效"，并提出做好明年经济工作的"八个 坚持"，将"坚持内需主导"置于首位。 2026年，中国经济如何前行？哪些重点领域值得关注？ 八家券商先后发表观点对此作出深入解读。 政策基调："提质增效" 2026年是"十五五"规划开局之年，做好经济工作至关重要。"十五五"规划建议指出，"'十五五'时期我国 发展环境面临深刻复杂变化"，"我国发展处于战略机遇和风险挑战并存、不确定难预料因素增多的时 期"。围绕做好明年经济工作，会议指出，"要坚持稳中求进、提质增效"。 明年初财政前置发力形成一定支撑。同时5000亿元新型政策性金融工具已全部投放，但对贷款的带动作 用仍有限，或亦将在明年开门红中集中开始体现。 华泰证券认为，从"以进促稳"到"提质增效"，经济政策基调从"进"和"立"到重"质"和"效"。 从政策基调的措辞看，今年政治局会议要求"稳中求进、提质增效"，而2024年12月政治局会议则强 调"坚持稳中求进、以进促稳，守正创新、先立后破， ...