本报讯 （记者徐一鸣）中央经济工作会议12月10日至11日在北京举行。此次会议召开于"十四五"规划收官、"十五五"规划 开局的关键节点，为2026年经济工作划定了重心与节奏。 国元证券称，在政策取向"稳"与"进"的再平衡上，可以看到在延续了五年的"稳中求进"工作总基调下，政策取向以"稳"为 基础，呈现出向"进"演绎的趋势。我国经济政策取向这种"稳"的格局和"进"的势头，既符合我国经济由高速增长阶段转向高质 量发展阶段的客观现实，也体现了我国经济发展基本盘的增长韧性和新动能的持续激活。 国元证券股份有限公司（以下简称"国元证券"）表示，从政策基调和具体部署上看，2026年经济工作有望构建起以扩大内 需为主导、以改革创新为驱动、以高质量发展为牵引的总体框架，实现政策重心、政策周期和政策取向的三个"再平衡"。 国元证券认为，首要是政策重心的"内"与"外"的再平衡。会议延续对"国际经贸斗争"的审慎判断，外部环境阶段性缓和恰 是聚焦内需提振、新动能培育、改革攻坚等国内重点任务的时间窗口。 （编辑 郭之宸） 谈及政策周期的"跨"与"逆"的再平衡，国元证券表示，会议"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 ...

本次会议将去年底提出的五个"必须统筹"改为新五个"必须"。 明年预算赤字率或继续维持在4%左右，但新增政府债务规模（包括赤字、专项债和特别国债）或超过 今年11.86万亿元的水平。 关于适度宽松的货币政策，会议强调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，灵 活高效运用降准降息等多种政策工具。人民银行主要负责人在会后接受媒体采访时表示，央行将继续实 施好适度宽松的货币政策，把握好政策实施的力度、节奏和时机，为经济稳定增长和金融市场稳定运行 创造良好货币金融环境。由此可见，货币政策的支持性立场不会改变，但期待大幅宽松是不现实的。明 年重点是要在优化结构性货币政策工具运用、加强与财政政策协同的基础上，进一步畅通货币政策传 导，统筹做好五篇金融"大文章"。会议连续四年提出"保持人民币汇率在合理均衡水平上的基本稳定"， 这表明防止汇率超调仍是当前宏观调控的重中之重。 日前召开的中央经济工作会议（下称"会议"）对2026年经济工作做出了重大部署。2026年是"十五五"开 局之年，会议通稿内容与《中共中央关于制定国民经济和社会发展第十五个五年规划的建议》（下 称"'十五五'规划建议"）一脉相承，是从"写意画 ...

Core Viewpoint - The recent Central Economic Work Conference outlines the economic work for 2025 and 2026, emphasizing the need to maintain confidence and leverage advantages to address challenges, ensuring a stable and positive economic momentum [1][2]. Economic Performance and Goals - The economic and social development goals for 2025 are expected to be achieved smoothly, with a projected GDP growth of around 5% year-on-year, making China the largest engine of global economic growth [2][3]. - The "14th Five-Year Plan" is nearing completion, with 20 key indicators set to be met, showcasing resilience and vitality in the face of challenges such as the pandemic [2][3]. Key Challenges - The economy faces persistent issues, including weak domestic demand and risks in key sectors, which are seen as challenges that can be addressed through concerted efforts [2][3]. Five Imperatives for Economic Work - The conference highlighted five essential strategies for economic work: 1. Fully explore economic potential by expanding consumption, investment, and regional development [3][4]. 2. Combine policy support with reform innovation to address intertwined economic issues [4]. 3. Balance deregulation with effective governance to enhance productivity while maintaining market order [4]. 4. Invest in both physical and human capital to promote comprehensive development and improve public welfare [4]. 5. Strengthen internal capabilities to face external challenges and enhance self-innovation [5]. Economic Work for 2026 - The economic work for 2026 will focus on maintaining stable growth, ensuring employment and price stability, and promoting income growth alongside economic growth [6][7]. - A proactive fiscal policy will be implemented, maintaining necessary fiscal deficits and optimizing expenditure structures to support strategic initiatives [6][7]. - A moderately loose monetary policy will be adopted to ensure liquidity and support key sectors such as technology and small enterprises [7][8]. Eight Key Tasks for 2026 - The conference identified eight key tasks for economic work in 2026, including: 1. Prioritizing domestic demand and building a strong domestic market. 2. Accelerating innovation and nurturing new growth drivers. 3. Enhancing high-quality development through reform. 4. Promoting cooperation in various fields through openness. 5. Coordinating urban-rural integration and regional development. 6. Leading with carbon neutrality to drive green transformation. 7. Focusing on people's livelihoods and addressing practical issues. 8. Safeguarding against risks in key areas [9][10]. Employment and Risk Management - Employment remains a priority, with policies aimed at stabilizing job markets for key demographics such as graduates and migrant workers [10]. - Measures will be taken to stabilize the real estate market and manage local government debt risks, ensuring no systemic risks arise [10].

Core Insights - The central economic work meeting emphasizes the need for a comprehensive understanding of economic work under new circumstances, highlighting the "five musts" for future economic development [1][2] Group 1: Economic Potential and Growth - It is essential to fully tap into economic potential, leveraging the characteristics of a large economy to foster independent and self-reliant growth [1] - The focus should be on expanding consumption and investment, developing technology and industries, and promoting urban-rural integration and regional coordinated development to create new growth points [1] Group 2: Policy Support and Reform - A dual approach of policy support and reform innovation is necessary to address the intertwined cyclical, structural, and institutional issues in the economy [1] - Strengthening macroeconomic regulation while deepening reforms is crucial to enhance internal growth dynamics [1] Group 3: Market Regulation and Government Role - The goal of deregulation is to eliminate institutional barriers to productivity, not to allow unchecked market behavior [1] - It is important to establish a socialist legal economy and credit economy, ensuring proper market order while maximizing the market's role in resource allocation [1] Group 4: Investment in People and Resources - Investment in both physical assets and human resources should be closely integrated to promote comprehensive human development and enhance public welfare [2] - Effective investment in the real economy and technological innovation must be balanced with human capital development to achieve mutual empowerment [2] Group 5: Internal Strength and External Challenges - To face external challenges, it is vital to focus on strengthening and optimizing the real economy and enhancing independent innovation capabilities [2] - Building internal strength is essential for maintaining a competitive edge in international cooperation and competition [2]

精准激励，激活领军人才。落实和完善科研经费包干制，赋予领军人才更大的技术路线决定权、经费支 配权和资源调度权。在高校和科研院所推行首席科学家负责制，保障其对研究方向的主导权。鼓励事业 单位对作出突出贡献的领军人才和拔尖人才实行年薪制、协议工资制和项目工资制。支持高校、科研院 所的科研人员带着成果在职或离岗创业，探索赋予科研人员职务科技成果所有权或长期使用权。 以改革融通区域协同优势，释放聚合发展潜能 全会强调"构建优势互补、高质量发展的区域经济布局和国土空间体系"。江苏地处长三角，是多个国家 重大战略的叠加地，要系统性谋划，完善省域内良性竞争合作机制，发挥经济大省辐射带动力，实现全 球、全国及全省范围内的多向融通、发展共赢。 □ 丁荣余 党的二十届四中全会明确提出，"十五五"时期经济社会发展要"以改革创新为根本动力"。江苏要持续走 在高质量发展前列，就必须牢牢把握改革这一关键抓手，把"融通"作为深化改革、释放动能的核心环 节，着力破除体制机制壁垒，疏通政策执行堵点，贯通人才、技术、资本、数据等关键要素的流动脉 络，将分散力量凝聚成合力，将单点突破扩展为整体优势，将潜在优势转化为新质生产力，从而构筑起 江苏高质 ...

Group 1 - The core viewpoint emphasizes the need for a deep understanding of three strategic guidelines during the 14th Five-Year Plan period, focusing on economic construction, high-quality development, and expanding domestic demand [2][3] - The 14th Five-Year Plan highlights the importance of economic construction as the central task, indicating that economic work remains the focus of the entire party and nation [3] - The plan aims for a per capita GDP of over $20,000 by 2035, requiring an average annual GDP growth of approximately 4.17% during the 14th and 15th Five-Year Plan periods [4] Group 2 - The plan stresses the importance of reform and innovation as fundamental drivers, aiming for breakthroughs in comprehensive reforms and creating a market-oriented, law-based, and international business environment [4][6] - The transition from follower innovation to frontier innovation is deemed essential, focusing on solving technological bottlenecks and enhancing basic research capabilities [6] - Policies to boost consumption and effective investment are outlined, emphasizing counter-cyclical measures, improving social security for low-income groups, and optimizing regulatory policies [7] Group 3 - The plan identifies the need to balance interests among various stakeholders to fully unleash investment potential, particularly in real estate and private investment [7] - The unique advantages of China's economic development are highlighted, suggesting that adherence to central policies will lead to significant achievements in high-quality development [8]

Core Viewpoint - The successful restoration of Donghao Stream in Guangzhou serves as a model for urban river management and ecological restoration, showcasing a comprehensive approach to environmental governance and community engagement [1][4][7]. Group 1: Ecological Transformation - Donghao Stream, once a vital waterway, faced severe pollution due to urbanization, leading to its classification as a black and smelly river [2][3]. - The stream's water quality improved from Class V to Class III, with a daily replenishment of over 100,000 tons of water, meeting ecological and recreational needs [3][4]. - The restoration efforts included the construction of a deep-layer drainage system and a series of ecological measures, resulting in a healthier aquatic ecosystem with the return of fish and sensitive species [3][6]. Group 2: Governance and Management - Guangzhou adopted a systematic governance model for the entire river basin, emphasizing long-term planning and phased implementation of restoration projects [4][5]. - The city established a three-tier river management network, utilizing digital tools for real-time monitoring and efficient governance [6][7]. - Community involvement was prioritized, with public consultation committees ensuring local voices were heard in the decision-making process [5][6]. Group 3: Cultural and Economic Revitalization - The restoration project included the transformation of historical sites into cultural assets, such as a water-themed museum, enhancing the cultural significance of the area [3][7]. - New public spaces and recreational facilities along the stream have improved the quality of life for residents, promoting a vibrant local economy [3][5]. - The project has fostered a sense of community ownership and environmental stewardship, contributing to the long-term sustainability of the river's ecosystem [7][8].

Core Points - The city is advancing urban renewal initiatives, emphasizing a people-centered approach to new urbanization and aiming to transform economic development through urban development methods [1][2][3] - The focus is on the "Five Reforms and Four Improvements" strategy, which includes enhancing existing buildings, old neighborhoods, and urban areas to create a better living environment [3][4] - The city aims to attract talent and businesses by improving the urban environment and implementing high-quality urban renewal projects [3][5] Group 1 - The meeting highlighted the importance of urban renewal as a significant decision by the central government, with an emphasis on expanding domestic demand and improving living conditions [2][3] - The city plans to implement a "three-year action" goal, selecting a number of small yet impactful projects each year to drive urban renewal [3] - A systematic approach will be adopted, integrating various aspects of urban development, including renovation, protection, and management [3][4] Group 2 - The city will prioritize human-centered investments and enhance community participation in urban renewal efforts [4][5] - Coordination among different departments and sectors will be strengthened to ensure a cohesive approach to urban renewal [4] - The city will explore innovative development models to optimize resource allocation and support urban renewal initiatives [4][5]

Core Points - The city is advancing urban renewal as a key strategy for economic transformation and development, emphasizing a people-centered approach to modernization [1][2] - The initiative is aligned with national policies and aims to enhance urban living conditions while promoting high-quality development [2][3] Group 1: Urban Renewal Strategy - The city aims to implement urban renewal as a significant decision by the central government, focusing on expanding domestic demand, promoting transformation, and improving living conditions [2] - The "Five Reforms and Four Improvements" strategy will guide the urban renewal efforts, targeting the renovation of existing buildings, old neighborhoods, and industrial areas [3][4] Group 2: Implementation Goals - The city plans to select a number of "small but beautiful" flagship projects each year to demonstrate effective urban renewal [3] - A systematic approach will be adopted, integrating various aspects of urban development, including protection, renovation, and management [3][4] Group 3: Community Engagement and Coordination - Emphasis will be placed on a people-oriented approach, encouraging community participation and collaboration in urban renewal projects [4][5] - The city will enhance coordination across different sectors and levels to ensure comprehensive and effective implementation of urban renewal initiatives [4][5] Group 4: Innovation and Policy Support - The city will explore innovative development models, including a combination of public-private partnerships and other collaborative frameworks [5] - Strengthening organizational leadership and accountability will be crucial for the successful execution of urban renewal plans [5]

Core Viewpoint - The article highlights the rise of Taizhou as a significant player in Jiangsu's economic landscape, aiming to break free from its "mid-tier" image and set a target of achieving a GDP of over 1 trillion yuan by the end of the 14th Five-Year Plan [6][10][15]. Economic Goals and Development Strategy - Taizhou has set an ambitious goal to join the "trillion-yuan club" by the end of the 14th Five-Year Plan, marking its first clear target for such an economic milestone [10][15]. - The city is actively seeking to redefine its identity and economic positioning, aiming to transition from a "stable mid-tier" to a "competitive upper-tier" city [14][15][26]. Comparison with Other Cities - In comparison to its peers, Taizhou's GDP for the previous year was 7020.95 billion yuan, which is lower than that of Yangzhou (7809.64 billion yuan) and Yancheng (7779.2 billion yuan) [16][18]. - The article notes that while Taizhou is currently behind in economic size, it has been gaining momentum and pushing Yangzhou to keep pace [18][22]. Industrial Development and Key Sectors - Taizhou has identified key industries for growth, including big health, marine engineering, new materials, and new intelligent manufacturing, under the banner of "Big Sea New Morning" [18][20]. - The city is recognized as the largest private shipbuilding base in China, with significant contributions to national shipbuilding metrics [18][19]. - The pharmaceutical industry in Taizhou has also seen substantial growth, with the establishment of the China Pharmaceutical City, which has attracted over 1300 pharmaceutical companies [20][22]. Recent Economic Performance - In the first three quarters of the year, Taizhou's industrial added value increased by 7.4%, outpacing the provincial average by 0.6 percentage points [24]. - However, the overall GDP growth rate for Taizhou slowed to 5.4%, falling short of the initial target of 6% for the year [25]. Future Prospects and Initiatives - Taizhou is focusing on new growth points, particularly in emerging industries such as robotics and artificial intelligence, to drive future economic development [26][28]. - The city aims to create a "Morning Light Industry" that targets future industries before they reach significant scale, reflecting a proactive approach to economic development [29].