Core Viewpoint - The Central Political Bureau of the Communist Party of China has decided to hold the Fourth Plenary Session of the 20th Central Committee in October, focusing on the formulation of the 15th Five-Year Plan for national economic and social development, while analyzing the current economic situation and deploying economic work for the second half of the year [1] Fiscal Policy - The meeting emphasized accelerating the issuance and utilization of government bonds to improve fund efficiency [1][5] - The focus of fiscal policy will be on the issuance and use of government bonds, with an expected increase in the pace of issuance [6][5] - The total new deficit, special bonds, and ultra-long special bonds for the year amount to 11.86 trillion yuan, with significant progress in issuance by mid-year [6] Monetary Policy - The monetary policy remains moderately loose, with an emphasis on promoting a decline in overall financing costs [1][5] - There is potential for further monetary easing through tools like reverse repos and MLF, with a focus on maintaining liquidity [5][6] - Structural monetary policy tools will continue to support key areas such as technological innovation and small enterprises [5] Domestic Demand - The meeting highlighted the need to effectively unleash domestic demand, with a focus on expanding consumption and fostering new growth points in service consumption [9][11] - The contribution of final consumption to GDP reached 52.3% in the second quarter, indicating a strong recovery in consumer spending [11] - Policies will be implemented to improve the income capacity of low- and middle-income families, thereby boosting consumption [12] Investment and Economic Growth - The meeting called for high-quality promotion of "two重" construction to stimulate private investment and expand effective investment [9][12] - There is an expectation for infrastructure investment to gain momentum in the second half of the year, with a focus on breaking down market barriers and optimizing the business environment [12] - The service sector is identified as a key area for consumption growth, with recommendations for policies to enhance service consumption [14]

7月30日，A股主要指数涨跌不一，沪指涨0.17%报3615点，深证成指跌0.77%，创业板指跌1.62%。全市场超3500股下跌。 具体来看： 影视院线板块领涨，幸福蓝海20CM涨停，金逸影视、慈文传媒、北京文化、上海电影、光线传媒、中国电影等跟涨。 | 代码 名称 | | 现价 | 裸跌 | 米幅 | | --- | --- | --- | --- | --- | | 300528 幸福蓝海 | | 25.32 | | +4.22 +20.00% | | GOGZOD | 金逸影视 | 10.52 | +0.96 | +10.04% | | 002343 慈文传媒 | | 8.58 | +0.78 | +10.00% | | 000802 北京文化 | | 6.11 | +0.51 | +9.11% | | 601595 上海电影 | | 36.04 | +2.28 | +6.75% | | 300251 | 光线传媒 | 20.55 | +0.71 | +3.58% | | 600977 中国电影 | | 14.75 | +0.40 | +2.79% | | 600715 文投控股 | | 2.41 | ...

中共中央政治局7月30日召开会议，会议指出，要持续防范化解重点领域风险。落实好中央城市工作会 议精神，高质量开展城市更新。积极稳妥化解地方政府债务风险，严禁新增隐性债务，有力有序有效推 进地方融资平台出清。增强国内资本市场的吸引力和包容性，巩固资本市场回稳向好势头。 要扩大高水平对外开放 稳住外贸外资基本盘 宏观政策要持续发力、适时加力 会议指出，宏观政策要持续发力、适时加力。要落实落细更加积极的财政政策和适度宽松的货币政策， 充分释放政策效应。加快政府债券发行使用，提高资金使用效率。兜牢基层"三保"底线。货币政策要保 持流动性充裕，促进社会综合融资成本下行。用好各项结构性货币政策工具，加力支持科技创新、提振 消费、小微企业、稳定外贸等。支持经济大省发挥挑大梁作用。强化宏观政策取向一致性。 依法依规治理企业无序竞争 推进重点行业产能治理 会议指出，要持续防范化解重点领域风险。落实好中央城市工作会议精神，高质量开展城市更新。积极 稳妥化解地方政府债务风险，严禁新增隐性债务，有力有序有效推进地方融资平台出清。增强国内资本 市场的吸引力和包容性，巩固资本市场回稳向好势头。 会议强调，要扩大高水平对外开放，稳住外贸外 ...

Group 1 - The meeting decided to hold the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China in October, focusing on the report of work and the formulation of the 15th Five-Year Plan for national economic and social development [1] - The "15th Five-Year" period is identified as a critical time for achieving socialist modernization, with both strategic opportunities and risks present in the current economic environment [1][2] - The meeting emphasized the need to maintain strategic determination and confidence, adapt to changes, and focus on domestic matters to gain strategic initiative in international competition [1][2] Group 2 - Economic development during the "15th Five-Year" period should adhere to Marxism, Mao Zedong Thought, Deng Xiaoping Theory, and Xi Jinping's Thought, aiming for a modern socialist strong country and the rejuvenation of the Chinese nation [2] - The meeting acknowledged that under the strong leadership of the Party, the economy has shown resilience and positive performance in key indicators, with high-quality development making new progress [2][3] - The meeting highlighted the importance of maintaining a stable macroeconomic policy, promoting domestic and international dual circulation, and achieving the annual economic and social development goals [3] Group 3 - The meeting called for deepening reforms, promoting technological innovation, and fostering new competitive industries to enhance economic vitality [4] - It emphasized the need for high-level opening up to stabilize foreign trade and investment, while supporting foreign trade enterprises affected by external shocks [4] - The meeting also stressed the importance of safeguarding people's livelihoods, prioritizing employment, and ensuring food security and disaster response [5]