原标题： 省委常委会召开会议 传达学习中央经济工作会议精神 尹弘主持 大江新闻讯 江西日报全媒体记者魏星报道：12月12日，省委常委会召开会议，传达学习中央经济工作 会议精神，研究我省贯彻落实意见。省委书记尹弘主持会议。 会议指出，习近平总书记在中央经济工作会议上的重要讲话，总揽全局、视野宏阔，思想深邃、内涵丰 富，客观总结今年经济工作成绩和"十四五"发展成就，概括提炼做好新形势下经济工作"五个必须"的规 律性认识，深刻分析当前国内外经济形势，明确提出明年经济工作的总体要求、主要目标、政策取向和 重点任务，进一步丰富和发展了习近平经济思想，为做好明年和今后一个时期经济工作提供了根本遵 循。全省上下要认真学习领会，切实把思想和行动统一到党中央决策部署上来，扎实做好明年经济社会 发展各项工作，确保"十五五"开好局、起好步。 尹弘主持 会议强调，要紧紧扭住党中央关于明年经济工作的重点任务，抓住关键、纲举目张，全力推动各项决策 部署落实到位。要千方百计扩大内需，加强项目精准谋划，不断拓展投资空间、提高投资效益，深入实 施提振消费专项行动，实现投资消费良性循环。要以科技创新推动产业创新，强化企业创新主体地位， 完善科技 ...

新华社北京12月12日电 人民日报12月13日评论员文章：用好优势，不断巩固拓展经济稳中向好势 头——论学习贯彻中央经济工作会议精神 "我国经济长期向好的支撑条件和基本趋势没有改变。"中央经济工作会议强调，"要坚定信心、用 好优势、应对挑战，不断巩固拓展经济稳中向好势头。"这是对我国经济形势作出的重大判断，对于做 好明年经济工作具有重大指导作用。 中国经济从来都是在历经风雨洗礼中成长壮大的。亲历与见证一年来和"十四五"以来的发展，我们 都有这样的共同感受，也更加坚定了砥砺前行的信心。 信心来自于过去5年，我国经济、科技、国防等硬实力和文化、制度、外交等软实力明显提升，新 质生产力加快发展，"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。近5年来，在 外部冲击明显加大的背景下，中国经济顶压前行、向新向优，对全球经济增长的贡献率稳定在30%左 右。党和国家事业取得新的重大成就，中国式现代化迈出新的坚实步伐，为"十五五"经济社会发展打下 坚实基础。 党中央集中统一领导是做好经济工作的根本保证，是全党全国人民迎难而上、砥砺奋进的信心所 在、底气所在。实践证明，在关键时刻、重要节点，以习近平同志为核心的党 ...

人民日报12月13日评论员文章：用好优势，不断巩固拓展经济稳中向好势头 ——论学习贯彻中央经济工作会议精神 "我国经济长期向好的支撑条件和基本趋势没有改变。"中央经济工作会议强调，"要坚定信心、用 好优势、应对挑战，不断巩固拓展经济稳中向好势头。"这是对我国经济形势作出的重大判断，对 于做好明年经济工作具有重大指导作用。 中国经济从来都是在历经风雨洗礼中成长壮大的。亲历与见证一年来和"十四五"以来的发展，我 们都有这样的共同感受，也更加坚定了砥砺前行的信心。 信心来自于在这很不平凡的一年，国内外形势深刻复杂变化，我国经济保持了总体平稳、稳中有 进的发展态势。经济社会发展主要目标将顺利完成，经济总量将达到140万亿元左右，世界银行、 国际货币基金组织等多个国际机构最近上调2025年中国经济增速预期。外贸较快增长、出口多元 化成效明显，人工智能、生物医药、机器人等研发应用走在世界前列，全国统一大市场建设向纵 深推进，海南自由贸易港即将正式启动全岛封关……这表明，我国经济高质量发展扎实推进，展 现出强大韧性和活力。 信心来自于过去5年，我国经济、科技、国防等硬实力和文化、制度、外交等软实力明显提升，新 质生产力加快 ...

Market Overview - US stock indices, including the S&P 500 and Dow Jones, reached record closing highs, indicating strong market control and resilience against downturns, with a tendency for timely interventions to cool overheated conditions [1] - Hong Kong stocks experienced a rise of 1.75% following a recent adjustment and the conclusion of significant meetings [1] - Social financing data revealed a total increase of 33.39 trillion yuan in social financing for the first 11 months of the year, with RMB loans increasing by 15.36 trillion yuan [1] Economic Policies - The People's Bank of China will conduct a 600 billion yuan reverse repurchase operation with a six-month term to inject liquidity into the market by the end of the year, indicating an optimistic outlook for the market [2] - The Central Economic Work Conference did not present significant highlights but focused on the establishment of a "national unified market" to break local protectionism, benefiting industries like express delivery [2] Industry Trends - The domestic agricultural machinery market is seeing a significant increase in recognition, with tractor exports rising by 35% year-on-year in the first three quarters, and a notable 54% increase in October [3] - The AI sector is experiencing a surge in demand, with major companies like MiniMax and Zhiyu planning IPOs, which will further drive the demand for computing power and related technologies [5] Company Developments - Tian工 International is expanding its titanium alloy business, which is expected to benefit from the growing demand in the nuclear fusion sector, with a reported revenue of 447 million yuan and a net profit of 65 million yuan in Q3 2025 [8] - The company is also focusing on high-nitrogen steel for humanoid robots, having overcome technical barriers and established partnerships for production [9] Stock Performance - Companies in the express delivery sector, such as Jitu Express and Zhongtong Express, saw stock increases of over 5% due to market expectations of growth driven by the unified market initiative [2] - In the agricultural machinery sector, leading companies like First Tractor Co. experienced stock increases of over 11% as the market recognizes their potential for growth [3] - In the AI-related sector, stocks of companies like Cambridge Technology and Changfei Optical Fiber rose by nearly 8% and over 4%, respectively, due to the anticipated demand from upcoming IPOs [5]

免责声明 本研究报告由国投期货有限公司撰写,研究报告中所提供的信息仅供参考。报告根据国际和行业通行的准则，以合 法渠道获得这些信息,尽可能保证可靠、准确和完整,但并不保证报告所述信息的准确性和完整性。本报告不能作 为投资研究决策的依据,不能作为道义的、责任的和法律的依据或者凭证,无论是否已经明示或者暗示。国投期货 有限公司将随时补充、更正和修订有关信息,但不保证及时发布。对于本报告所提供信息所导致的任何直接的或者 间接的投资盈亏后果不承担任何责任。 都泓佳 Z0017641 黄恬 Z0021089 表:近三次中央经济工作会议政策要点梳理 | 2025中央经济工作会议 | 2024中央经济工作会议 | 2023中央经济工作会议 | 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 | 经济社会发展主要目标任务即将顺利完 | 开放迈出新步伐，重点领域风险化解 | | | | | | 成。当前外部环境变化带来的不利影响 | 取得积极进展， ...

Market Overview - The S&P 500 and Dow Jones reached record closing highs, indicating strong control over the U.S. stock market, with rebounds following declines and timely negative news to cool off overheating [1] - The Hong Kong stock market also saw a rise of 1.75% after a prior adjustment and the conclusion of significant meetings [1] Social Financing and Monetary Policy - In the first 11 months of the year, China's social financing increased by 33.39 trillion yuan, with RMB loans rising by 15.36 trillion yuan [1] - As of the end of November, the broad money supply (M2) was 336.99 trillion yuan, growing by 8% year-on-year, while the narrow money supply (M1) was 112.89 trillion yuan, with a year-on-year increase of 4.9% [1] Economic Policy and Market Reactions - The People's Bank of China plans to conduct a 600 billion yuan reverse repurchase operation to inject liquidity into the market by the end of the year [2] - The central economic work conference did not present significant highlights, but the focus is on establishing a "national unified market" to break local protectionism, benefiting the express delivery industry [2] Industry Trends - The domestic agricultural machinery market is seeing a significant increase in recognition, with tractor exports rising by 35% year-on-year in the first three quarters of 2025 [3] - The AI sector is experiencing a surge, with major companies like MiniMax and Zhiyuan planning IPOs, which will increase demand for computing power [5] Stock Performance - Companies in the agricultural machinery sector, such as First Tractor Company, saw stock prices rise over 11% due to increased export growth [3] - In the AI-related sector, stocks like Cambridge Technology and Changfei Optical Fiber Cable rose nearly 8% and over 4%, respectively, driven by the anticipated demand from upcoming IPOs [5] Equipment and Technology Developments - GE Vernova expects to sign contracts for 80 gigawatts of combined cycle gas turbine capacity by the end of the year, indicating strong demand for gas turbines [4] - The global nuclear fusion market is projected to approach 500 billion USD by 2030, with several companies planning to establish commercial fusion power plants by 2040 [4] Excavator Sales Data - In November 2025, excavator sales reached 20,027 units, a year-on-year increase of 13.9%, with domestic sales growing by 9.11% [8] - The total sales of excavators from January to November 2025 were 212,162 units, reflecting a year-on-year growth of 16.7% [8] Company-Specific Developments - Tiangong International is expanding its titanium alloy business and has engaged in discussions with research institutes to innovate in high-end materials [9] - The company is also focusing on high-nitrogen steel for humanoid robot applications, having overcome technical barriers in production [10]

Group 1 - The central economic work conference emphasized the need for reform to enhance high-quality development and address "involution" in competition, which is a key task for the upcoming year [1][7] - The photovoltaic (PV) industry is experiencing a recovery, with a 39.48% year-on-year increase in new installations, reaching 252.87 GW in the first ten months of the year [1][5] - The price of silicon materials has risen from 35,400 CNY/ton to 53,600 CNY/ton, indicating a positive trend in the market [1][4] Group 2 - The "involution" phenomenon in the PV industry has led to severe supply-demand imbalances and price wars, eroding profit margins and threatening long-term innovation [2][6] - The establishment of a monitoring and coordination mechanism by the China Photovoltaic Industry Association aims to address market failures and promote cooperative competition [3][6] - The industry has seen a significant increase in market capitalization, with a total market value of 296.8 billion CNY for listed PV companies, reflecting a 39.57% increase since April [5][6] Group 3 - The newly registered platform for polysilicon capacity integration is seen as a key initiative to combat "involution" through market-driven and legal mechanisms [6] - The central economic work conference's focus on creating a unified national market and further reform of state-owned enterprises aligns with the PV industry's efforts to stabilize and innovate [7][8] - The transition from cost competition to value creation in the PV industry is driven by innovation and the need to build a strong domestic market [8][9]

2026年中国经济怎么干？一图读懂！ 中央经济工作会议 12月10日至11日在北京举行 如何做好明年经济工作？ 一图梳理↓ 我国经济长期向好的支撑条件和基本趋势没有 改变。要坚定信心、用好优势、应对挑战,不断 巩固拓展经济稳中向好势头。 五个"必须" 240元 - SE S M P 0%列 - 【 的 - 必须做到既"放得活"又"管得好" 0%如果 投资手物和投资于人紧密结合 2%列以普绕内功度应对外部挑战 总体要求 上一篇： - 140 11 12 2 7 2 暨続急中发起工作总基调，更好统筹国内经济工 假和国际经贸科争,更好统筹发展和安全 初审：李振斌 复审：王进 终审：周鹤 圆地制宜发展新质生产力，纵深推进全国统一大 市场推出设 着力稳就业、稳企业、稳市场、稳预期 征远经济ஜ现员的有效提升和量的合理增长,保 持在线和谐稳起。 ஜ现"十五五"良好开局 政策部署 堅持稳中求過。提质增效 继续要就可到加盟网的财政政策 继续到随着原因的货币政策 增强泵观政策取向一致性和有效性 健全预期管理机制，提振社会信心 2026年经济工作抓好以下重点任务 rtt Extrade and and the will be th ...

央广网北京12月12日消息（记者张棉棉 李思默 王泽华）据中央广播电视总台中国之声报道，中央 经济工作会议12月10日至11日在北京举行。会议指出，今年是很不平凡的一年，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。 会议认为，通过实践，我们对做好新形势下经济工作又有了新的认识和体会：必须充分挖掘经济潜 能，必须坚持政策支持和改革创新并举，必须做到既"放得活"又"管得好"，必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。 会议强调，做好明年经济工作，要坚持稳中求进工作总基调，更好统筹国内经济工作和国际经贸斗 争，更好统筹发展和安全，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，持续扩大内 需、优化供给，做优增量、盘活存量，因地制宜发展新质生产力。 明年将纵深推进全国统一大市场建设，持续防范化解重点领域风险，着力稳就业、稳企业、稳市 场、稳预期，推动经济实现质的有效提升和量的合理增长，保持社会和谐稳定，实现"十五五"良好开 局。2026年中国经济怎么干？ 会议认为， ...

央视网消息：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称："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，政策是保持相当力度的。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、研究院院长罗志恒称："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。" 杨志勇称："如果说税收优惠、财政补贴不够规范，它实际上是把统一的市场给它分割成不同的小市场，市场的潜力就没办法充分地挖 掘。所以规范税收优 ...