来自中央财办、国家发展改革委和有关部门的领导，专家学者、企业家、智库代表和媒体代表300余人参加了年 会。 与会嘉宾表示，今年是很不平凡的一年。我国经济顶压前行、向新向优发展，现代化产业体系建设持续推进，改 革开放迈出新步伐，重点领域风险化解取得积极进展，民生保障更加有力。过去5年，我们有效应对各种冲击挑 战，扎实推动高质量发展取得新突破，确保"十四五"圆满收官，第二个百年奋斗目标新征程实现良好开局。 与会嘉宾指出，明年经济工作在政策取向上，要坚持稳中求进、提质增效，发挥存量政策和增量政策集成效应， 加大逆周期和跨周期调节力度，提升宏观经济治理效能。继续实施更加积极的财政政策，保持必要的财政赤字、 债务总规模和支出总量，优化财政支出结构。继续实施适度宽松的货币政策，把促进经济稳定增长、物价合理回 升作为货币政策的重要考量。增强宏观政策取向一致性和有效性，健全预期管理机制，提振社会信心。 与会嘉宾强调，明年要坚持内需主导，建设强大国内市场；坚持创新驱动，加紧培育壮大新动能；坚持改革攻 坚，增强高质量发展动力活力；坚持对外开放，推动多领域合作共赢；坚持协调发展，促进城乡融合和区域联 动；坚持"双碳"引领，推动全面 ...

Group 1 - The core economic growth target for next year is set at around 5%, focusing on employment and livelihood improvements, with a clear signal for more proactive fiscal policies and moderate monetary easing [1][3] - The emphasis on expanding domestic demand will drive consumption and investment as the main growth engines, with measures to enhance consumer spending and optimize investment structures [3][4] - The government plans to implement a more aggressive fiscal policy, with a projected deficit rate of approximately 4%-4.2% and an increase in special bond issuance to support infrastructure and social welfare [5][6] Group 2 - Innovation-driven actions will accelerate, with a focus on developing education and technology talent, and enhancing the role of enterprises in innovation [4][7] - Monetary policy is expected to be moderately eased, providing ample liquidity and lowering financing costs to support domestic demand and technological innovation [5][6] - High-level opening-up will be expanded, promoting foreign trade quality and efficiency, and increasing international job opportunities [6][7] Group 3 - The government aims to pragmatically address risks in key areas such as real estate and local government debt, with policies tailored to local conditions [6][7] - The transition from old to new growth drivers will be expedited, with a focus on service sector expansion and the integration of artificial intelligence [7][8] - The overall economic strategy is designed to ensure stability and growth, with a focus on policy implementation that directly benefits the public [8]

Economic Outlook - The economic situation in China this year is better than expected, with major economic indicators showing strong resilience and vitality, leading to a projected annual growth rate of around 5% [1] - China continues to be the largest engine of global economic growth [1] Innovation and Technology - The government emphasizes the need to accelerate original innovation and expand international technology innovation centers, particularly in Beijing and Shanghai [3][5] - A focus on innovation-driven growth is set for next year's economic work, aiming to cultivate new economic drivers [3][36] Environmental Policies - From next year, there will be effective control over high energy-consuming and high-emission projects as part of a comprehensive green transition [7] - The government plans to accelerate the elimination of outdated production capacity and promote the application of green and low-carbon technologies [9] Consumer Spending - The government aims to boost consumption through special actions and plans to increase urban and rural residents' income, including raising basic pensions [11] - Policies will be optimized to remove unreasonable restrictions in the consumption sector, thereby unleashing the potential for service consumption [13] Film Industry Growth - As of December 13, 2025, China's film box office has surpassed 50 billion yuan, exceeding last year's total by 7.5 billion yuan [13] - Domestic films account for nearly 82% of the total box office, with a diverse range of genres achieving international standards [15] - The film industry is transitioning from traditional box office revenue to a multi-consumption ecosystem, contributing significantly to economic growth [21] Forestry and Sustainable Practices - A three-year pilot program for sustainable forest management has been initiated, covering 40.49 million acres [23] - The program aims to enhance forest quality and economic benefits, with significant increases in tree growth rates and biodiversity [25][29] - The initiative has generated economic benefits of 7.86 billion yuan and increased labor income for forestry workers by 10.52 billion yuan [34] Industrial Transformation - The focus on innovation is driving the modernization of the industrial system, with traditional industries undergoing transformation through technology [36] - Companies are increasingly adopting artificial intelligence to enhance production efficiency and product quality [38][40] - Efforts are being made to improve the business environment, with significant reductions in approval times for projects [45][47]

中国经济面面观｜中央经济工作会议释放哪些重要信号？ "深入实施提振消费专项行动""扩大优质商品和服务供给""优化'两新'政策实施""清理消费领域不合理限 制措施"……聚焦提振消费，会议作出一系列部署。 复旦大学管理学院科创中心首席经济学家邵宇认为，通过财政政策与货币政策协同发力，短期补贴与长 期社会保障并重，消费潜力将进一步激发；同时，投资领域将迎来更多重大工程和项目，为经济增长提 供强劲动力。 会议强调，"坚持创新驱动，加紧培育壮大新动能"，并提出"制定一体推进教育科技人才发展方案""建 设北京(京津冀)、上海(长三角)、粤港澳大湾区国际科技创新中心"等一系列具体部署。 稀宇科技副总裁严奕骏认为，每一次的技术迭代和发展，都给整个社会非常大的信心，京津冀、长三 角、粤港澳大湾区各自拥有强势产业，并与人工智能有很好的结合，新技术的应用会更好地赋能经济增 长，前景非常广阔。 "十四五"临近收官，"十五五"即将开篇。资深金融工作者滕印认为，我国经济长期向好的支撑条件和基 本趋势没有改变，坚定了我们鼓足干劲、应对挑战、砥砺前行的信心和决心，我们对经济的发展充满信 心。 中央经济工作会议12月10日至11日在北京举行。 ...

中国2026年将继续实施"更加积极的财政政策"和"适度宽松的货币政策"。文章称，清晰有力的宏观调控政策、科技产业充沛的创新 活力、空间广阔的超大规模市场、配备完善的产业体系，共同筑牢高质量发展的基础，也有效支撑了信心、提高了预期。消费是扩 大内需、畅通循环的关键，中国经济向"内"发力，从长远看是充分激活自身优势和潜力的必然。 英国《金融时报》：重心向创新端倾斜 央视网消息：2025年的中央经济工作会议成为媒体高度关注的焦点。中国经济的底色与底气是什么？抗压能力和内生动力带来哪些 确定性？ 美国彭博社：中国经济韧性获得广泛认可 彭博社分析认为，会议明确透露出2026年将持续推出相关经济促进政策，始终坚持稳中求进的工作总基调，这一信号凸显中国将坚 定保障经济长期增长目标。中国经济在2025年已展现出强大的抗压能力和内生动力。在面对美国关税壁垒时，中国通过积极开拓多 元化出口市场，进一步印证了经济发展的强劲增长势头。国际组织看好中国经济，近日，接连上调增速预期。 香港大公网：宏观政策更加积极 2026年作为"十五五"规划的开局之年，中国将着力推进高质量增长，创新、现代服务业、人工智能以及绿色转型将成为新的增长引 擎 ...

Core Insights - The Central Economic Work Conference held on December 10-11, 2025, is crucial for setting the direction for China's economic work in 2026 and ensuring a good start for the "15th Five-Year Plan" [1][2] - The conference emphasizes the importance of unity in thought, consensus, and confidence to navigate the complexities of the current economic landscape and achieve high-quality development [2][3] Economic Strategy - The conference outlines a series of strategic deployments focused on stabilizing and advancing economic growth, with a priority on domestic demand and building a strong domestic market [3] - Key tasks include boosting consumption, optimizing investment, fostering innovation, and addressing risks in real estate and local debt [3][4] Leadership and Governance - Strengthening the Party's comprehensive leadership over economic work is highlighted as essential for overcoming challenges and achieving targets [4] - The need for a correct performance view that prioritizes people's well-being and practical results is emphasized, along with avoiding bureaucratic tendencies [4] Future Outlook - The conference sets a clear roadmap for 2026, aiming for a robust start to the "15th Five-Year Plan" and a commitment to high-quality development [5] - A call for collective effort and determination to overcome obstacles and achieve economic goals is made, reinforcing the vision for a modern socialist country [5]

中央经济工作会议12月10日至11日在北京举行。会议分析了当前经济形势，并对2026年经济工作进行了部署。 此次会议释放出了哪些重要信号？政策将如何进一步推动经济实现质的有效提升和量的合理增长？ 会议指出，"明年经济工作在政策取向上，要坚持稳中求进、提质增效，发挥存量政策和增量政策集成效应，加大逆周期和跨周期调节力度， 提升宏观经济治理效能。" 专家认为，这既是对当前内外部环境的精准把握，也是对未来经济发展的深远谋划。 会议确定了明年经济工作要抓好的八个方面重点任务：坚持内需主导，建设强大国内市场；坚持创新驱动，加紧培育壮大新动能；坚持改革 攻坚，增强高质量发展动力活力；坚持对外开放，推动多领域合作共赢；坚持协调发展，促进城乡融合和区域联动；坚持"双碳"引领，推动全面 绿色转型；坚持民生为大，努力为人民群众多办实事；坚持守牢底线，积极稳妥化解重点领域风险。 12月12日，在河南省商丘市豫商经济技术开发区一家新能源汽车企业，工人在新能源轻卡车生产线上赶制产品订单。新华社发（李恒摄） "坚持内需主导，建设强大国内市场"摆在八个方面重点任务之首。 "深入实施提振消费专项行动""扩大优质商品和服务供给""优化'两新' ...

Economic Situation - The economic situation is characterized by persistent challenges, but the overall tone is becoming more positive. The external environment is expected to stabilize marginally, while domestic supply-demand imbalances are highlighted as a significant issue [2][10]. - The meeting emphasizes the need to address "development and transformation" issues, indicating that many challenges can be resolved through concerted efforts [10]. Five Musts - The meeting outlines "Five Musts" to enhance economic potential, focusing on internal capacity building to respond to external challenges and the importance of policy support alongside reform innovation [2][18]. - Key strategies include ensuring effective market regulation while promoting investment in both physical and human capital [19]. 2025 Growth Target - The growth target for 2026 is set at approximately 5% for both nominal and real GDP, reflecting a pragmatic approach to align with long-term goals and current economic conditions [3][21]. - The transition of growth drivers is expected, with the "three new economies" projected to surpass the real estate sector historically [21]. Macroeconomic Policy - The macroeconomic policy framework is shifting from "promoting stability through growth" to "enhancing quality and efficiency," indicating a focus on structural optimization rather than mere expansion [4][26]. - Fiscal policy is expected to maintain a deficit rate around 4%, with a focus on improving the efficiency of spending rather than just increasing the scale [30][31]. - Monetary policy will remain moderately accommodative, with expectations for potential rate cuts and targeted support for key sectors [36][40]. Key Tasks - The emphasis on domestic demand is paramount, with strategies to boost consumption and stabilize investment growth projected at 2-3% for 2026 [5][46]. - Innovation-driven growth is prioritized, with plans to strengthen the integration of education, technology, and talent development [6][50]. - Reforms will focus on eliminating barriers to development, enhancing market dynamics, and improving the business environment [7][57]. Real Estate Market - The policy focus is shifting towards stabilizing the real estate market, moving from demand stimulation to a balanced supply-demand approach [8][63].

突出强调人才的重要性，从技术突破转向"技术+产业+人才+金融"的闭环生态 文 |《财经》记者 王静仪 编辑 | 王延春 中央经济工作会议12月10日至11日在北京举行，为明年经济工作指明方向。"坚持创新驱动，加紧培育壮大新动 能"，被列为八项重点工作的第二项，仅次于内需主导。 具体包括：制定一体推进教育科技人才发展方案。建设北京（京津冀）、上海（长三角）、粤港澳大湾区国际科 技创新中心。强化企业创新主体地位，完善新兴领域知识产权保护制度。制定服务业扩能提质行动方案。实施新 一轮重点产业链高质量发展行动。深化拓展"人工智能+"，完善人工智能治理。创新科技金融服务。 对比2025年的第二项重点任务同是关注"创新"，《财经》发现，提法主要有三点不同： 其一，突出强调人才的重要性，将"制定一体推进教育科技人才发展方案"列在首位，从技术突破转向"技术+产业 +人才+金融"的闭环生态； 其二，将服务业列为经济新动能的重要组成，要求"制定服务业扩能提质行动方案"； 这并非顶层设计中首次提出发展服务业，但其侧重点与过去有明显不同：在规模已占主导的背景下，政策核心转 向解决质效问题。重点攻克优质供给不足、创新能力待提升、开放程 ...

Core Insights - The Central Economic Work Conference held on December 10-11, 2025, summarized economic work for 2025, analyzed the current economic situation, and outlined tasks for 2026 [1] Group 1: Key Principles - The conference emphasized "Five Musts" for economic work: fully tapping economic potential, combining policy support with reform and innovation, ensuring both flexibility and effective management, investing in both physical and human capital, and honing internal capabilities to face external challenges [3][4] Group 2: Policy Directions - The conference highlighted the need for a policy orientation focused on stability and progress, quality improvement, and efficiency enhancement, while leveraging both existing and new policies to enhance macroeconomic governance [9] Group 3: Eight Key Tasks - The conference outlined "Eight Persistences" as key tasks for the upcoming year, including prioritizing domestic demand, driving innovation, tackling reforms, maintaining openness, promoting coordinated development, leading with "dual carbon" goals, prioritizing people's livelihoods, and ensuring bottom-line security [12] Group 4: Domestic Market Focus - The conference prioritized building a strong domestic market, with tasks such as formulating a plan for increasing urban and rural residents' income, optimizing the implementation of new policies, and increasing central budget investments [15] Group 5: Innovation and Reform - The conference called for a focus on innovation, with tasks including developing a comprehensive plan for education, technology, and talent development, and establishing international technology innovation centers in key regions [17] Group 6: Market Regulation - The conference stressed the importance of reform to enhance high-quality development, including establishing a national unified market construction regulation and addressing issues like overdue payments to businesses [19] Group 7: External Cooperation - The conference emphasized the need for external openness and cooperation, with plans to gradually expand service sector openness and promote digital and green trade [22] Group 8: Coordinated Development - The conference highlighted the importance of coordinated development, focusing on rural-urban integration and regional collaboration, with specific tasks aimed at promoting high-quality county economic development [25] Group 9: Green Transition - The conference underscored the commitment to a green transition, with plans to develop a national energy strategy and enhance carbon trading market construction [27] Group 10: Livelihood Improvements - The conference aimed to prioritize people's livelihoods, with initiatives to support flexible employment, increase educational opportunities, and reform healthcare payment methods [31] Group 11: Real Estate Stability - The conference addressed the need to stabilize the real estate market through targeted measures, inventory reduction, and promoting the construction of quality housing [34]