转自：成都日报锦观 明年将继续安排资金支持消费品以旧换新 ——解读2026年财政工作新看点 明年将继续实施 更加积极的财政政策 明年财政工作的 六方面重点任务 日前召开的中央经济工作会议提出，要继续实施更加积极的财政政策。 更加积极的财政政策将如何继续发力？明年财政重点工作有哪些？在12月27日至28日于北京举行的全国 财政工作会议上，财政部部长蓝佛安作了部署。 今年财政政策打出"组合拳" 财政工作取得新成效 蓝佛安表示，2025年，各级财政部门认真贯彻党中央、国务院决策部署，担当尽责、稳中求进，财政工 作取得新成效，为推动完成全年经济社会发展目标任务发挥了重要作用。 财政政策作为宏观调控的重要手段，具有扩大总需求和定向调结构的双重优势。 "今年以来，我们安排财政资金169亿元支持实施消费品以旧换新。"参会的四川省财政厅厅长黎家远告 诉记者，四川财政还通过个人消费贷款财政贴息、"蜀里安逸"消费新场景培育计划等多项政策，有力推 动消费市场持续回暖向好。今年前11个月，全省社会消费品零售总额同比增长5.5%。 明年将扩大财政支出盘子 抓好六方面重点工作 展望明年，我国将继续实施更加积极的财政政策，具体如何发力？ ...

Core Viewpoint - The central six provinces of China are strategically planning their "14th Five-Year" initiatives to enhance efficiency and promote green expansion, aiming to establish a modernized growth model in the region [1] Group 1: Agricultural Development - The six provinces prioritize national food security in their planning, focusing on technological empowerment, green transformation, brand enhancement, and industry integration to redefine the modern connotation of "fish and rice country" [2] - Each province is breaking traditional agricultural paradigms by shifting towards a full industry chain layout, with initiatives such as Hubei's focus on high-quality agricultural production zones and Henan's goal of becoming a national base for quality grain and oil production [2] Group 2: Energy Transition - Energy transition is viewed as a key strategy for building a modern industrial system, with provinces like Shanxi aiming to evolve from a coal province to an energy powerhouse by integrating coal with new energy sources [3] - The construction of new energy systems is a priority, with various provinces planning to develop clean energy sources such as wind, solar, and biomass, alongside innovative energy technologies like controlled nuclear fusion [3] Group 3: Consumption and Economic Circulation - The term "consumption" appears frequently in the planning documents, indicating a strong focus on stimulating domestic demand as part of the new development pattern [4] - New consumption trends are emerging from the region, with cities experiencing rapid growth in retail sales, and initiatives to promote new economic activities such as e-sports and cultural tourism [4][5]

Core Viewpoint - The Central Economic Work Conference emphasizes the continuation of a more proactive fiscal policy to support economic growth and social development in 2025 [1][2]. Group 1: Fiscal Policy Achievements - The Ministry of Finance reported that in 2025, fiscal departments will effectively implement the decisions of the central government, leading to significant achievements in fiscal work that support the completion of annual economic and social development goals [2][3]. - Fiscal policy serves as a crucial macroeconomic tool, enhancing total demand and directing structural adjustments, with a focus on high-quality development and increased investment in basic research [3][6]. Group 2: Future Fiscal Focus - In 2025, the government plans to expand the fiscal expenditure framework, optimize government bond tools, and enhance the effectiveness of transfer payments to support local financial autonomy [4][5]. - Key tasks for the upcoming year include promoting domestic demand, supporting technological and industrial innovation, and advancing urban-rural integration and regional collaboration [4][5]. Group 3: Strengthening Fiscal Management - The conference highlighted the need for comprehensive fiscal management improvements, emphasizing the importance of integrating top-down and bottom-up approaches in fiscal management trials [7][8]. - The focus will be on resource coordination, zero-based budgeting, and strengthening departmental responsibilities to enhance the effectiveness of fiscal policies and fund utilization [7][8].

Group 1 - The core viewpoint emphasizes that consumption is the main engine of economic growth and a barometer of people's well-being, with significant policies implemented to boost consumption in 2025, resulting in a 4% year-on-year increase in retail sales of consumer goods in the first 11 months, surpassing both the previous year's growth and the annual growth rate [1] - The "Two New" policy, which includes large-scale equipment updates and the replacement of old consumer goods, has been a key focus of macroeconomic policy this year, with substantial increases in funding for these initiatives, including 300 billion yuan for consumer goods replacement and 200 billion yuan for equipment updates [2] - The government is actively working to eliminate restrictive measures in the consumption sector, with multiple high-level meetings emphasizing the need to stimulate consumption potential and remove unreasonable restrictions on consumption, particularly in the automotive and housing sectors [3] Group 2 - Looking ahead to 2026, experts suggest that the focus of consumption policies should shift from demand-side stimulation to a coordinated reform of both supply and demand, as outlined in the 15th Five-Year Plan [4] - The research department of China International Capital Corporation (CICC) highlights the importance of increasing the supply of quality consumer goods and services, with specific targets set for 2027, including three trillion-yuan-level consumption areas and ten hundred-billion-yuan-level consumption hotspots [5] - The chief economist at招商基金 predicts a moderate recovery in consumption in 2026, with continued support for the "Two New" policy and an emphasis on service consumption, particularly in sectors like healthcare and elderly care, which are expected to be the main focus of policy support [6]

冯飞感谢大家对海南改革发展的倾力奉献与鼎力支持，要求有关部门认真研究、充分吸纳意见建议。他 指出，谋划好明年经济工作，必须深入学习贯彻习近平总书记在听取海南自由贸易港建设工作汇报时的 重要讲话精神，以及中央经济工作会议精神，坚定信心、上下齐心，统筹封关后改革开放和高质量发展 工作。要扎实推进海南自由贸易港建设，在制度型开放、商品和要素流动型开放、人才体制、营商环境 等方面形成一批标志性成果，增强对国内外要素资源吸引力。要推动经济发展实现新突破，聚焦扩大内 需这个基点，打造时尚消费引领地，拓展国际航线，形成消费和投资相互促进的良性循环；聚焦现代化 产业体系这个支撑，构建梯次发展的产业格局；聚焦"三外"这篇文章，打造国内国际双循环战略交汇 点。要牢牢守住安全底线，严防"套代购"走私等重点领域风险，统筹好发展和安全。 冯飞指出，希望各民主党派、工商联和无党派人士进一步深化思想认识，准确把握当前经济形势和明年 工作的整体要求、政策取向；进一步提升履职效能，提出更多前瞻、务实、管用的真知灼见；进一步强 化民主监督，提出批评性、建设性意见；进一步广泛汇聚力量，共同营造政通人和、心齐气顺、奋发进 取的浓厚社会氛围。中共海南 ...

Group 1 - Consumption has become a crucial engine for economic growth in China, with holidays serving as key windows for concentrated consumer demand release [1] - The recent notice from the Central Committee and State Council emphasizes expanding the supply of quality goods and services, innovating diverse consumption scenarios, and stimulating holiday consumption potential [1] - The deployment accurately addresses the current supply-demand relationship in the consumer market, providing short-term consumption boosts and long-term growth direction through supply-side quality enhancement and scenario innovation [1] Group 2 - The Chinese consumer market is characterized by simultaneous total expansion and structural upgrading, with rising income levels leading to a shift from basic needs to quality and experiential consumption [2] - The emphasis on expanding the supply of quality goods and services aligns with the trend of consumption upgrading, aiming to effectively connect supply capabilities with consumer demand [2] - Innovation in consumption scenarios is identified as a key driver to break traditional consumption models and release incremental demand, with recent examples illustrating the shift from single shopping to multi-experience consumption [2] Group 3 - The policy deployment of expanding quality goods and services and innovating diverse consumption scenarios is a pragmatic response to structural challenges in the current consumer market and a strategic approach to long-term domestic demand expansion [2] - To facilitate the transformation from short-term stimulation to long-term growth, three focus areas are suggested: increasing R&D investment by enterprises, improving consumer income expectations and social security systems, and promoting successful scenario innovation experiences into regular consumption practices [2] - Holiday consumption serves as an important window to observe economic vitality and a valuable opportunity to cultivate new growth momentum, requiring both short-term demand stimulation and long-term policy guidance for industry upgrades [3]

Core Viewpoint - The year 2025 is characterized by significant economic resilience and vitality in China, with a focus on investment in people, artificial intelligence, and a favorable capital market [1] Group 1: Economic Trends - Experts highlight that 2026 will see an increase in macroeconomic policy counter-cyclical adjustments to support domestic demand expansion [1] - There is an emphasis on further deepening reforms to fully unleash economic vitality and potential [1]

"投资于人"的制度变革，才能打造出新的内需引擎。 经济在爬坡升级中，新生力量虽朝气蓬勃，但对整个经济的支撑能力尚有限，要保持经济行稳致远，对 现有经济结构进行有效的损益分析和风险管控是必要前提。 当前经济工作需存量化险与增量助推两手布局。最新数据反映出规上工业企业的存量化险工作任务较 重。11月末，规上工业企业应收账款28.40万亿元，同比增长5.5%；产成品存货6.92万亿元，增长 4.6%；产成品存货周转天数同比增加0.6天；应收账款平均回收期同比增加3.7天。1~11月，规上工业企 业每百元营业收入中的成本为85.50元，同比增加0.18元。这些数据背后凸显的是，稍有不慎，存量资产 就面临不良化风险。 当前工业企业营业收入和利润增长，很多来自被动补库存，这是产成品库存等增速明显超过利润和营收 增速的主要原因。同时，应收账款增长、应收账款平均回收期天数增加及产成品存货周转天数增加等， 不仅加重企业经营活动压力，也提醒当下实体经济可能存在企业带链空转问题，即企业在缺乏市场需求 下被动通过库存循环来保持边际产能运转，避免生产线暂停的损失。当然，出现这些问题的主要原因是 内需偏弱，尤其是最终消费需求。因此做大内 ...

Core Viewpoint - The article emphasizes that increasing the income of ordinary workers is essential for expanding domestic demand, which is crucial for the long-term healthy development of the economy [1][5]. Group 1: Economic Strategy - The strategy to expand domestic demand is a key focus of the 20th Central Committee's Fourth Plenary Session and the upcoming economic work for the next year [1]. - The core issue of insufficient total demand in the economy is linked to the low labor compensation of ordinary workers, who make up over 80% of the employment population [1][2]. Group 2: Income Distribution - The proportion of residents' income in national income distribution is low, primarily due to the low share of labor compensation in the initial distribution [2]. - The consumer demand problem stems from the long-term misalignment of labor compensation with the value created by workers, leading to a situation where there is a willingness to consume but a lack of purchasing power [2]. Group 3: Consumption Dynamics - Ordinary workers have a high consumption conversion attribute, meaning that their income growth translates directly into essential and improved consumption [3]. - An increase of 1,000 yuan in average monthly income for ordinary workers could add approximately 4.05 trillion yuan to annual consumption, representing about 8.6% of the total retail sales of consumer goods in 2023 [3]. Group 4: Policy Recommendations - The primary task is to improve and continuously implement the collective wage negotiation system to ensure normal wage growth and fair sharing of enterprise development results [4]. - There is a need to enhance the dynamic adjustment mechanism for minimum wage standards and reduce income disparities through tax adjustments and social security [4]. Group 5: Long-term Economic Growth - Expanding domestic demand is a long-term battle, with the core focus on income and labor compensation [5]. - Improving the income of ordinary workers is essential for activating the vast potential of the domestic market and achieving a reasonable consumption rate [5].

Core Viewpoint - Gansu's 14th Provincial Committee emphasizes the importance of expanding domestic demand, enhancing consumption potential, and increasing effective investment to integrate into the national market and support the new development pattern [1][4]. Group 1: Consumption Potential - Gansu aims to transform regional characteristics into market value, focusing on unique resources such as cultural tourism and local agricultural products to stimulate consumption [2]. - The integration of culture and tourism is expected to unleash significant energy, as evidenced by events like the Mingsha Mountain starry sky concert and the influx of visitors to the Dunhuang scenic area [2]. - The rapid growth of e-commerce and logistics, with over 70 million "Gansu flavor" agricultural products sold online, highlights the critical role of digital channels in releasing consumption potential [2]. Group 2: Effective Investment - The emphasis on "effective investment" signifies a strategic approach to direct funds towards areas that strengthen advantages, address shortcomings, and foster new productive forces [3]. - Gansu's industrial fixed asset investment has seen an average annual growth rate of 35.8% during the 14th Five-Year Plan, focusing on key sectors like new energy and new materials [3]. - The establishment of a provincial business environment construction bureau aims to optimize the investment climate, reducing transaction costs and attracting beneficial projects [3]. Group 3: Synergy Between Consumption and Investment - The interplay between consumption and investment is crucial for sustainable growth, with infrastructure investments expanding consumption capacity and quality [3]. - Enhanced transportation networks facilitate access to remote attractions and local products, integrating them into the broader market [3]. - The demand generated by consumption upgrades guides investment towards areas like deep processing of agricultural products and smart tourism, creating a healthy cycle of internal demand growth [3]. Group 4: Future Outlook - Gansu plans to further expand domestic demand and solidify its economic foundation, viewing this as both a stabilizing force and a new engine for high-quality development [4]. - The collaboration between awakening consumption potential and implementing effective investment is expected to create strong growth points across Gansu [4].