Group 1 - The latest data from the National Bureau of Statistics indicates that the domestic CPI rose by 0.8% year-on-year in December 2025, surpassing the previous value of 0.7%, with a month-on-month increase of 0.2%, marking a near three-year high [1] - The month-on-month increase in CPI is primarily driven by rising prices of industrial consumer goods excluding energy, which increased by 0.6%, contributing approximately 0.16 percentage points to the CPI increase [1] - The core CPI, excluding food and energy, rose by 1.2% year-on-year, maintaining a growth rate above 1% for four consecutive months, indicating a positive trend [1] Group 2 - The main factors affecting CPI include energy and automobile prices, with energy prices decreasing by 0.5% month-on-month and gasoline prices down by 1.2% [2] - PPI showed an expanding month-on-month increase and a narrowing year-on-year decline, with positive factors stemming from industry capacity governance and market competition order improvements [2] - International commodity prices, particularly for non-ferrous metals, have positively impacted domestic PPI levels, while the decline in international oil prices has negatively affected domestic oil extraction and refining prices [3] Group 3 - The current price recovery is a direct result of the demand-side expansion and supply-side governance policies in 2025, characterized by structural features and policy-driven characteristics [3] - The transition from short-term policy-driven effects to sustainable market-driven growth is a key task for 2026, with strong price expectations playing a crucial role in boosting investment and consumption [3] - Continued efforts to expand domestic demand and improve supply-demand relationships are essential for stabilizing the real estate market and stimulating stock market vitality, promoting a virtuous cycle in the Chinese economy [4]

Group 1 - The core viewpoint of the articles indicates a positive trend in price recovery for 2025, with CPI and PPI showing simultaneous growth, suggesting a foundation for price warming in 2026 [1][2][3] - CPI increased by 0.8% year-on-year, surpassing the previous value of 0.7%, and the month-on-month CPI rose by 0.2%, marking a three-year high [1] - The rise in CPI is primarily driven by the increase in industrial consumer goods prices, excluding energy, which rose by 0.6%, contributing approximately 0.16 percentage points to the CPI increase [1] Group 2 - PPI showed a month-on-month increase of 0.2%, marking three consecutive months of growth, with the growth rate expanding by 0.1 percentage points compared to the previous month [1][2] - The improvement in PPI is attributed to industry capacity governance and market competition order, which have positively influenced supply-demand structures, leading to price increases in certain sectors [2][3] - International commodity prices, particularly in non-ferrous metals, have positively impacted domestic PPI levels, while the decline in international oil prices has negatively affected domestic oil extraction and refining prices [3] Group 3 - The current price recovery is a direct result of coordinated demand-side expansion and supply-side governance policies, with structural characteristics and policy-driven features [3] - The sustainability of this price recovery and its transmission to broader investment and consumption expectations will determine whether the economy can enter a virtuous cycle in 2026 [3] - Continued efforts to expand domestic demand and improve supply-demand relationships are essential for stabilizing the real estate market and stimulating the stock market, which will facilitate smoother transmission from PPI to CPI [4]

本报讯（记者莫岚远）1月9日，市政协召开第八十三次主席会议。市政协党组书记、主席杨维超主持会 议并讲话。 杨维超强调，组织开好市政协十二届六次会议，为"十五五"新发展夯实基础。要牢固树立"一盘棋"理 念，以高度的责任感使命感，高标准、高效率、高质量完成会议各项筹备工作，确保大会召开圆满成 功。要认真做好2026年工作，强化思想政治引领，提高协商议政质量，深入开展"服务为民"活动，守正 创新提质增效，以改革创新精神加强履职能力建设，实现政协自身建设新提升，为建设现代化人民城市 作出新贡献。 会议传达学习习近平总书记二〇二六年新年贺词和在2025年12月25日中央政治局会议、在中共中央政治 局民主生活会、在全国政协新年茶话会上的重要讲话精神，对未成年人思想道德建设、对中央企业工作 作出的重要指示精神，在《求是》杂志发表的重要文章《学习好贯彻好党的二十届四中全会精神》《扩 大内需是战略之举》；传达学习2025年12月22日、29日自治区党委常委会会议精神，自治区党委书记陈 刚在全区经济工作会议、全区县域经济高质量发展暨城市工作会议上的讲话精神，在南宁调研时的指示 要求；传达学习2025年12月26日市委常委会会议精 ...

Group 1 - The latest data from the National Bureau of Statistics indicates that the domestic CPI rose by 0.8% year-on-year in December 2025, surpassing the previous value of 0.7%, while the month-on-month CPI shifted from a decline of 0.1% to an increase of 0.2%, reaching a near three-year high [1] - The month-on-month increase in CPI was primarily driven by rising prices of industrial consumer goods excluding energy, which increased by 0.6%, contributing approximately 0.16 percentage points to the CPI increase [1] - The year-on-year CPI increase of 0.8% was mainly attributed to a larger rise in food prices, with fresh vegetables and fruits seeing price increases of 18.2% and 4.4%, respectively [1] Group 2 - The main factors affecting CPI include energy and automobile prices, with energy prices declining by 0.5% month-on-month due to international oil price fluctuations, and domestic gasoline prices decreasing by 1.2% [2] - The month-on-month PPI increase has expanded, and the year-on-year decline has narrowed, indicating a need for further consolidation of the upward trend [2] - The improvement in PPI is influenced by international commodity prices, with domestic prices in the non-ferrous metal mining and smelting industries rising by 3.7% and 2.8% respectively [3] Group 3 - The current price recovery is a direct result of the coordinated efforts of demand-side expansion and supply-side governance policies in 2025, characterized by structural features and policy-driven characteristics [3] - The ability to maintain this trend and translate it into widespread investment and consumption expectations will determine whether the economy can enter a virtuous cycle of "moderate price recovery - improved corporate profits - balance sheet repair - expanded domestic demand" in 2026 [3] - There is a need to actively expand domestic demand and improve supply-demand relationships to promote a smooth transmission of PPI to CPI, thereby enhancing corporate profits and consumer confidence [4]

Group 1 - The core viewpoint emphasizes the importance of expanding domestic demand as a strategic focus, with a strong push for boosting consumption as a key path to release domestic demand potential [1] - To enhance consumption capacity, optimizing income distribution structure is essential, with a projected contribution rate of 44.5% from final consumption expenditure to economic growth in 2024 [1] - The strategy of "investing in people" is highlighted, focusing on increasing public spending in human capital areas such as vocational training to enhance labor adaptability to technological changes [1] Group 2 - Innovation in supply forms is necessary to create effective demand, addressing the structural contradictions between supply and consumption in the current market [2] - Technological innovation, particularly in digital technology and artificial intelligence, is crucial for developing new product supply forms and consumption scenarios, enhancing supply-demand compatibility [2] - The total number of consumer goods in China has surpassed 200 million, with a projected 40.7% growth in new energy passenger vehicle sales, exceeding 10 million units in 2024 [2] Group 3 - Optimizing the consumption environment is vital to stimulate consumer willingness, addressing issues such as high costs and long cycles of consumer rights protection [3] - Establishing a safe and trustworthy market ecosystem is essential, with a focus on legal protections for consumer rights and the establishment of credit and complaint mechanisms [3] - Collaborative governance involving multiple stakeholders is necessary for improving the consumption environment, breaking down departmental barriers to create a governance community [3]

Core Viewpoint - The "Two New" policy aims to upgrade supply and expand demand, serving as a crucial tool for activating domestic demand and supporting the internal demand strategy, rather than merely stimulating short-term demand [1][2]. Group 1: Policy Overview - The National Development and Reform Commission and the Ministry of Finance have issued a notice regarding the implementation of large-scale equipment updates and consumer goods replacement policies by 2026, which reflects a long-term consideration for economic recovery [1]. - The "Two New" policy continues the framework from the previous year, focusing on expanding domestic demand, boosting employment, and improving livelihoods, while optimizing aspects such as the coverage of equipment update policies and the promotion of green, low-carbon, and smart products [1][2]. Group 2: Key Changes in the Policy - The updated policy includes new areas such as the installation of elevators in old residential communities, equipment updates for elderly care institutions, and updates for fire rescue and inspection equipment, targeting public safety and commercial vitality [2]. - The subsidy standards have shifted from a one-size-fits-all approach to a more categorized implementation, encouraging green consumption by adjusting appliance subsidies to focus on energy-efficient products [2]. - The policy emphasizes the importance of standard construction to drive technological iteration and industrial upgrades, thereby creating market space for advanced production capacities [2]. Group 3: Implementation Challenges - The effectiveness of the "Two New" policy in expanding domestic demand depends on its implementation, which has faced issues such as inconsistent subsidy availability and high thresholds for funding support, particularly affecting small and medium-sized enterprises [2][3]. - Recommendations for improvement include optimizing fund allocation, ensuring orderly fund usage, and strictly combating illegal activities, which would enhance the policy's reach and effectiveness [3]. Group 4: Collaborative Mechanisms - The policy involves multiple departments and covers the entire production, circulation, consumption, and recycling chain, necessitating the breaking down of inter-departmental barriers and enhancing the consistency of macro policy orientation [3]. - Local governments are encouraged to develop targeted and actionable implementation plans based on local industry needs and consumer characteristics, facilitating effective communication with businesses and consumers [3].

"扩大内需，必须统筹抓好促消费和扩投资。"中国社科院财经战略研究院财政研究室主任何代欣表示， 会议部署了财政金融一揽子政策，包括从供需两端发力促消费、加力支持民间投资等，释放了积极有力 的政策信号，有利于提振信心、引导预期，形成促内需的政策合力。 此外，会议强调，要采取更多便利化措施，切实推动政策落地见效，增强群众和企业获得感。要密切跟 踪政策实施进展，加强全链条管理，确保资金规范高效使用。 ...

Group 1: Economic Development Strategy - The core focus for 2026 is to ensure a strong start for the "14th Five-Year Plan" with an emphasis on high-quality economic and social development [1] - The Central Economic Work Conference has prioritized eight key tasks, including domestic demand-led growth, innovation-driven development, and reform initiatives [1][2] Group 2: Domestic Demand and Investment - The emphasis on domestic demand aims to build a robust domestic market, with policies targeting both investment and consumption [2] - Measures to stabilize investment include increasing government investment, implementing major engineering projects, and stimulating private investment [2] - Consumption strategies involve optimizing policies for replacing old consumer goods, expanding service consumption, and improving the quality of consumer supply [2] Group 3: Urban Development and Infrastructure - The focus on urban renewal includes implementing a specialized plan for urban updates and conducting city assessments [3] - Key infrastructure projects will include the renovation of gas pipelines and the construction of comprehensive underground utility corridors [3] Group 4: Innovation and Technology - The strategy emphasizes innovation-driven growth, with a focus on fostering new productive forces through technological advancements and industrial upgrades [4] - Specific initiatives include enhancing industrial technology capabilities, supporting emerging industries, and promoting the integration of artificial intelligence [5] Group 5: Data and Digital Economy - The year 2026 is designated as the "Year of Data Element Value Release," focusing on integrating data into economic value creation [6] - Efforts will be made to enhance data flow, promote data technology innovation, and support the development of digital industry clusters [6] Group 6: Reform and Market Dynamics - The reform agenda aims to eliminate systemic barriers to high-quality development, with a focus on creating a unified national market [7] - Financial reforms will enhance market supervision and facilitate cross-border financial services [7] Group 7: Social Welfare and Employment - The strategy includes measures to improve employment and social welfare, focusing on enhancing public services and ensuring stable prices for essential goods [9][10] - Specific actions will target skill development, social insurance coverage, and support for vulnerable groups [10][11]

新华社北京1月9日电（记者 申铖）"优化实施服务业经营主体贷款、个人消费贷款贴息政策""实施 中小微企业贷款贴息政策"……1月9日召开的国务院常务会议，部署实施财政金融协同促内需一揽子政 策。 围绕促进居民消费，会议明确，优化实施服务业经营主体贷款、个人消费贷款贴息政策，推动增加 优质服务供给，增强居民消费能力。 围绕支持民间投资，会议部署，实施中小微企业贷款贴息政策，设立民间投资专项担保计划，建立 支持民营企业债券风险分担机制，优化实施设备更新贷款财政贴息政策，进一步降低企业融资门槛和成 本。 中央经济工作会议指出，"实施更加积极有为的宏观政策，增强政策前瞻性针对性协同性"。日前召 开的全国财政工作会议称，2026年要加强财政金融协同，放大政策效能。 实施财政金融协同促内需一揽子政策，是扩大有效需求、创新宏观调控的重要举措。当日召开的国 务院常务会议指出，要加强财政政策与金融政策配合联动，充分发挥政策效应，引导社会资本参与促消 费、扩投资。 "扩大内需，必须统筹抓好促消费和扩投资。"中国社科院财经战略研究院财政研究室主任何代欣表 示，会议部署了财政金融一揽子政策，包括从供需两端发力促消费、加力支持民间投资等 ...

人民财讯1月9日电，"优化实施服务业经营主体贷款、个人消费贷款贴息政策""实施中小微企业贷款贴 息政策"……1月9日召开的国务院常务会议，部署实施财政金融协同促内需一揽子政策。 （原标题：协同发力促内需！国务院部署实施财政金融一揽子政策） 转自：证券时报 围绕支持民间投资，会议部署，实施中小微企业贷款贴息政策，设立民间投资专项担保计划，建立支持 民营企业债券风险分担机制，优化实施设备更新贷款财政贴息政策，进一步降低企业融资门槛和成本。 "扩大内需，必须统筹抓好促消费和扩投资。"中国社科院财经战略研究院财政研究室主任何代欣表示， 会议部署了财政金融一揽子政策，包括从供需两端发力促消费、加力支持民间投资等，释放了积极有力 的政策信号，有利于提振信心、引导预期，形成促内需的政策合力。 此外，会议强调，要采取更多便利化措施，切实推动政策落地见效，增强群众和企业获得感。要密切跟 踪政策实施进展，加强全链条管理，确保资金规范高效使用。 中央经济工作会议指出，"实施更加积极有为的宏观政策，增强政策前瞻性针对性协同性"。日前召开的 全国财政工作会议称，2026年要加强财政金融协同，放大政策效能。 实施财政金融协同促内需一揽子 ...