Core Viewpoint - The speech by Han Wenxiu highlights that China's major economic indicators are performing better than expected, with a projected GDP growth of around 5% for the year, positioning China as the largest engine of global economic growth [1][2]. Economic Performance - China's economic total is expected to reach approximately 140 trillion yuan this year, marking significant growth as it has crossed the thresholds of 110 trillion, 120 trillion, and 130 trillion yuan in recent years [2]. - Employment remains stable, and foreign trade is growing rapidly, with notable diversification in exports [1]. Risk Mitigation - Positive progress has been made in mitigating risks in key areas, including the orderly replacement of local government hidden debts and the completion of housing delivery tasks [3]. Economic Work Guidelines - Five essential principles for economic work in the new context have been proposed: 1. Fully explore economic potential by expanding consumption and investment, and promoting urban-rural integration [4]. 2. Combine policy support with reform innovation to address intertwined cyclical, structural, and institutional issues [4]. 3. Balance deregulation with effective management to eliminate barriers to productivity while ensuring market order [5]. 4. Integrate investments in physical and human capital to enhance overall development and welfare [5]. 5. Strengthen internal capabilities to face external challenges and enhance self-innovation [5]. Future Economic Goals - For 2026, the focus will be on synchronizing income growth with economic growth, maintaining stability in employment and prices, and ensuring a balanced international payment [6]. - The expansion of three major international science and technology innovation centers is aimed at fostering original innovation [7]. Trade and Openness - Plans for 2026 include promoting both exports and imports to ensure sustainable foreign trade development, with an emphasis on expanding institutional openness [8]. Policy Implementation - There will be an optimization of the "two new" policies to provide local governments with more autonomy, aiming to stimulate consumption and enhance the supply of quality goods and services [9]. Corporate Debt Management - Continued efforts will be made to address corporate debt issues and prevent the recurrence of payment delays, alongside the establishment of a fair market order [10]. Education and Employment - There will be an increase in the supply of ordinary high school places and quality undergraduate admissions to adapt to demographic changes, alongside policies to stabilize employment for key groups [11]. Green Development - The transition to carbon emission control will be prioritized, with plans to expand green electricity applications and develop new growth points in hydrogen energy and green fuels [12].

中央经济工作会议指出，明年继续实施更加积极的财政政策。如何理解明年财政政策的取向？来看专家的解读。 中央经济工作会议指出，要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。专家表示，明年的财政政策取向与2025年保持了 一致。 中国财政科学研究院院长 杨志勇：明年继续实施更加积极的财政政策，这是基于对国内外经济形势判断所作出的选择。这也可以看到政策是一以贯之的， 是保持相当力度的。跟明年的经济工作的目标来说是相称的，它能够支撑经济目标的实现。 粤开证券首席经济学家 研究院院长 罗志恒：从量的角度，我们要确保必要的财政赤字规模、新增债务总规模以及必要的财政支出力度。通过政府的支出， 比如政府采购以及基建工程项目来扩大社会的总需求，来形成我们居民部门、企业部门的收入，推动经济运行的循环。第二个就是结构的优化，要坚持将投 资于物和投资于人的结合，提高居民的医疗、教育和养老，这样的话居民的后顾之忧得到了缓解，进而有利于去释放潜在的消费需求。 优化"两新""两重"政策 提高财政资金使用效率 实施更加积极的财政政策，如何确保财政资金使用更加高效，让每一分钱都花到刀刃上？继续来看专家的解读。 中央经济 ...

Core Viewpoint - The Central Economic Work Conference emphasizes the continuation of a more proactive fiscal policy in the coming year, maintaining necessary fiscal deficits, total debt scale, and overall expenditure levels, aligning with the goals set for 2025 [4]. Group 1: Fiscal Policy Direction - The fiscal policy direction for next year is consistent with the goals for 2025, focusing on ensuring necessary fiscal deficits and new debt scales, as well as maintaining fiscal expenditure intensity [4]. - The proactive fiscal policy aims to expand social demand through government spending, such as procurement and infrastructure projects, which will generate income for households and businesses, thus promoting economic circulation [6]. Group 2: Structural Optimization - The policy emphasizes the combination of investment in physical assets and human capital, improving healthcare, education, and elderly care, which alleviates residents' concerns and releases potential consumer demand [6]. - The continuation of a proactive fiscal policy is a strategic choice based on assessments of domestic and international economic conditions, supporting the achievement of economic targets [7]. Group 3: Efficiency of Fiscal Fund Utilization - The conference highlights the need to strengthen fiscal management, optimize expenditure structures, and standardize tax incentives and fiscal subsidy policies to enhance the efficiency of fiscal fund utilization [11]. - Optimizing expenditure structures will free up financial resources that can be directed towards improving public welfare, including healthcare, education, and elderly care [13]. Group 4: Market Integration - Standardizing tax incentives and fiscal subsidies is crucial for promoting the modernization of fiscal and tax systems and facilitating the construction of a unified national market [15]. - The optimization of "two new" and "two heavy" policies aims to enhance consumer experience and ensure that major projects deliver greater benefits, ultimately driving a rebound in consumption and investment [17].

Core Viewpoint - The proposal to "improve the integrated circulation rules and standards" is a significant measure to reduce logistics costs and build a unified national market, emphasizing both goal-oriented and problem-oriented approaches [1] Group 1: Importance of Integrated Circulation Rules - Improving integrated circulation rules and standards is crucial for enhancing the efficiency of national economic operations, as efficient circulation is as important as production efficiency [1] - A high-efficiency circulation system can better connect production and consumption, expand transaction scope, reduce transaction costs, and deepen division of labor, ultimately improving production efficiency [1] - The integration of circulation rules and standards is key to building a modern circulation system, breaking local protectionism, and promoting smooth cross-regional flow of goods and factors [1] Group 2: New Requirements and Challenges - Since the 18th National Congress, significant progress has been made in China's circulation system reform, with the ratio of total social logistics costs to GDP decreasing from 18% in 2012 to 14% in the first half of 2025, though still above the developed countries' average of around 8% [2] - Factors contributing to this gap include the high proportion of manufacturing, vast territory, and complex geographical conditions, as well as structural and systemic issues [2] - The focus during the 14th Five-Year Plan period should be on optimizing logistics network distribution and enhancing the integration of various transportation modes [2] Group 3: Key Tasks for Standardization - Accelerate the construction of a modern logistics operation system with high-standard connectivity of market facilities, including railway freight network projects and inland waterway connectivity [3] - Promote deep integration of various transportation modes, enhance market-oriented reforms in railway freight, and standardize rules across different transport methods [3] - Further improve the unified circulation standards system, focusing on key areas such as commercial logistics and e-commerce, while prohibiting local governments from setting standards beyond their jurisdiction [3]

12月13日，中国国际经济交流中心举办2025—2026中国经济年会。 中央财经委员会办公室分管日常工作的副主任、中央农村工作领导小组办公室主任韩文秀表示，2025年 我国主要经济指标表现好于预期，经济总量预计达到140万亿元左右。2026年还将根据形势变化出台实 施增量政策，要协同发挥存量政策和增量政策集成效应，推动经济稳中向好。 主要经济指标表现好于预期 韩文秀表示，近期国际货币基金组织等国际机构纷纷上调了今明两年我国经济增长的预测。回望"十四 五"，我们有效应对世纪疫情、脱钩断链、自然灾害等超乎寻常的冲击挑战。经济实力明显壮大，我国 经济总量连续跨过110万亿元、120万亿元、130万亿元的台阶，今年预计达到140万亿元左右。 明年将根据形势变化出台实施增量政策 韩文秀表示，按照中央经济工作会议的总体要求，明年要保持经济稳定增长，保持就业和物价总体稳 定，保持国际收支基本平衡，促进居民收入增长和经济增长同步。做好明年经济工作要坚持稳中求进、 提质增效，加大逆周期和跨周期调整，切实提升宏观经济治理效能。 宏观政策方面，将继续实施更加积极的财政政策，继续实施适度宽松的货币政策，增强宏观政策取向的 一致性和有 ...

央视网消息：中央经济工作会议指出，2026年继续实施更加积极的财政政策。如何理解2026年财政政策的取向？ 中央经济工作会议指出，要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。专家表示，2026年的财政政策取向 与2025年保持了一致。 提高财政资金使用效率 更多资金投到民生 中国财政科学研究院院长杨志勇表示，2026年继续实施更加积极的财政政策，这是基于对国内外经济形势判断所作出的选择。这也可以看到政 策是一以贯之的，是保持相当力度的。跟2026年的经济工作的目标来说是相称的，它能够支撑经济目标的实现。 粤开证券首席经济学家、研究院院长罗志恒表示，从量的角度，要确保必要的财政赤字规模，新增债务总规模以及必要的财政支出力度。通过 政府的支出，比如政府采购以及基建工程项目来扩大社会的总需求，形成居民部门、企业部门的收入，推动经济运行的循环。第二是结构的优 化，要坚持将投资于物和投资于人的结合，提高居民的医疗、教育和养老，这样居民的后顾之忧得到了缓解，进而有利于去释放潜在的消费需 求。 实施更加积极的财政政策，如何确保财政资金使用更加高效，让每一分钱都花到"刀刃"上？ 中央经济工作会议指 ...

新华社权威速览 2025年中央经济工作会议 明年经济工作 中央经济工作会议12月10日至11日在 北京举行。习近平总书记出席会议并发表 重要讲话,总结2025年经济工作,分析当 前经济形势,部署2026年经济工作。 "十四五"即将圆满收官 今年是很不平凡的一年。以习近平 同志为核心的党中央团结带领全党全 国各族人民迎难而上、奋力拼搏,坚 中国创新发展理令 推动实际最 C、LTソリアルバイバリアアイルステ 发展,统筹国内国际两个大局,实施 更加积极有为的宏观政策,经济社会 发展主要目标将顺利完成。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,推动党 和国家事业取得新的重大成就,"十 四五"即将圆满收官,第二个百年奋 斗目标新征程实现良好开局。 做好新形势下经济工作 新的认识和体会 必须充分挖掘经济潜能 以甘动华士壮和歌主创新 1/大 主付以宋义付个以年创机 并举 必须做到既"放得活"又"管 得好" 业 须 坚持投资于物和投资于人 紧密结合 必须以苦练内功来应对外部挑战 HE 经济工作的 ...

每经编辑｜段炼 今天（13日），在中国国际经济交流中心举办的2025-2026中国经济年会上，中央财办分管日常工作的副主任、中央农办主任韩文秀表示，今年是中国式 现代化进程中具有重要意义的一年，是很不平凡的一年。全年经济社会发展主要预期目标将顺利实现，"十四五"即将圆满收官。 韩文秀介绍，一年来，我国经济顶压前行，向新向优发展，展现出了强大的韧性和活力。主要经济指标表现好于预期，许多机构预测，全年经济增长5% 左右，我国仍然是全球经济增长的最大引擎。就业形势总体稳定，外贸较快增长，出口多元化成效明显，现代化产业体系建设加快推进。新质生产力稳步 发展，人工智能、生物医药、机器人等研发和应用处在全球第一梯队。改革开放迈出新步伐。纵深推进全国统一大市场建设，综合整治内卷式竞争，光伏 等行业的供求关系和价格走势出现积极的变化，资本市场交投活跃，国内外投资者信心增强，自主开放有序推进。安全、稳定、自信、包容的中国形象展 现在世界的面前。 韩文秀表示，"十四五"规划纲要所确定的20项主要指标即将顺利完成，推动党和国家事业发展取得新的重大成就。 韩文秀介绍，近期，国际货币基金组织、高盛等国际机构纷纷上调了今明两年我国经济增 ...

今天（13日），在中国国际经济交流中心举办的2025-2026中国经济年会上，中央财办分管日常工作的 副主任、中央农办主任韩文秀表示，今年是中国式现代化进程中具有重要意义的一年，是很不平凡的一 年。全年经济社会发展主要预期目标将顺利实现，"十四五"即将圆满收官。 韩文秀介绍，一年来，我 国经济顶压前行，向新向优发展，展现出了强大的韧性和活力。主要经济指标表现好于预期，许多机构 预测，全年经济增长5%左右，我国仍然是全球经济增长的最大引擎。就业形势总体稳定，外贸较快增 长，出口多元化成效明显，现代化产业体系建设加快推进。新质生产力稳步发展，人工智能、生物医 药、机器人等研发和应用处在全球第一梯队。改革开放迈出新步伐。纵深推进全国统一大市场建设，综 合整治内卷式竞争，光伏等行业的供求关系和价格走势出现积极的变化，资本市场交投活跃，国内外投 资者信心增强，自主开放有序推进。安全、稳定、自信、包容的中国形象展现在世界的面前。（央视新 闻） ...

研机析理。"全国"，显示整体性，强调国内大循环的主体地位；"统一"，显示规范性，强调统一市场基 础制度、统一市场基础设施、统一政府行为尺度、统一市场监管执法、统一要素资源市场；"大"，显示 规模性，强调这是一个整体深度融合、对内对外开放的市场。 进一步分析，就广度而言，这个市场覆盖的消费人口和地域要有足够大的规模；就深度而言，各类要素 资源市场需联动协同，软硬件基础设施需完备统一。这样才能有效发挥潜力和优势，为要素高效配置、 技术快速迭代、产业转型升级提供超大规模的市场容量、丰富的应用场景、充分的竞争机会。 【"打通全国统一大市场堵点卡点"热点问题探析5】立路牌清路障筑牢制度基石 仅靠"看不见的手"，通过自发秩序进行调节，能形成全国统一大市场吗？ 答案是否定的。 当前一个较为明确的判断是，全国统一大市场建设越往深里走，越要动真碰硬，下决心解决具有实质 性、根本性、牵引性的问题。这必然要求我们从关注现象转向探究根源，补齐法规制度短板，以制度之 力推动全国统一大市场建设。 本质上是一场制度建设"攻坚战" 市场是最稀缺的资源，超大规模市场是我国的优势所在，目前其潜力远未发挥出来。究其关键，在于这 个市场尚未形成真正 ...