昨天，国务院新闻办公室举行新闻发布会，介绍落实中央经济工作会议精神，推动"十五五"实现良好开 局有关情况。对中国经济运行中存在的供强需弱矛盾，国家发展改革委副主任王昌林表示，将把宏观政 策的发力点放在做强国内大循环上，全方位扩大国内需求，研究制定出台2026—2030年扩大内需战略实 施方案。 同时，还要坚持把市场运行的调控点放在纵深推进全国统一大市场建设上，充分激发市场活力。重点是 要综合整治"内卷式"竞争，实现从"卷价格"向优价值转变。完善市场准入、公平竞争、产能退出等机 制，加强产能调控，积极化解供大于求的阶段性矛盾。进一步细化地方招商引资鼓励和禁止事项边界， 规范地方经济促进行为。加强重点行业价格监管，依法依规治理企业低价无序竞争，形成优质优价、良 性竞争的市场秩序。大力实施质量品牌战略，引导破解"内卷式"竞争。 文/本报记者 董鑫 统筹/刘晓雪 王昌林表示，当前，中国经济发展中需求不足的问题较为突出，同时也存在供给不充分的问题。必须扩 大内需、优化供给，推动供需在更高水平上实现动态平衡和良性循环，促进形成更多由内需主导、消费 拉动、内生增长的经济发展模式。 坚持把宏观政策的发力点放在做强国内大循环上 ...

Core Viewpoint - The current economic situation in China is characterized by strong supply but weak demand, prompting the National Development and Reform Commission (NDRC) and the Ministry of Finance to emphasize the need for macroeconomic policies that strengthen domestic circulation and expand domestic demand [1][3][4]. Group 1: Domestic Demand Expansion Strategy - The NDRC plans to formulate a five-year strategy for expanding domestic demand from 2026 to 2030, focusing on creating new demand through innovative supply [1][3][4]. - The strategy aims to achieve a dynamic balance between supply and demand, promoting an economic model driven by domestic demand and consumption [3][4]. Group 2: Fiscal Policy and Support Measures - The Ministry of Finance will maintain necessary levels of fiscal deficit, debt, and expenditure, ensuring that overall spending increases, particularly in key areas such as consumption and social welfare [1][5]. - A total of 1.3 trillion yuan (approximately 1.9 billion USD) in long-term special bonds will be issued to support consumption, with 300 billion yuan allocated specifically for the "old-for-new" consumption subsidy program [5]. Group 3: Consumer Incentives and Support - The "old-for-new" policy has significantly boosted consumption, with expectations that it will drive sales of related goods by over 2.6 trillion yuan (approximately 3.7 billion USD) [5]. - The NDRC will implement personal consumption loan interest subsidy policies, extending the implementation period to the end of 2026, and expanding the support scope to include credit card installment payments [10]. Group 4: Support for Small and Medium Enterprises (SMEs) - A new loan interest subsidy policy for SMEs will provide a 1.5% annual subsidy on fixed asset loans, with a cap of 50 million yuan (approximately 7 million USD) per enterprise [18][19]. - The policy targets key industries such as new energy vehicles, advanced manufacturing, and production services, aiming to stimulate investment and support industrial upgrades [19][20]. Group 5: Regulatory and Market Improvements - The NDRC will work on eliminating unreasonable restrictions in the consumption sector and establishing management methods for new consumption formats and scenarios [12][14]. - Efforts will be made to enhance the efficiency of fund usage and support for SMEs, including lowering investment thresholds and improving project approval processes [16][21].

Core Viewpoint - The National Development and Reform Commission (NDRC) aims to complete the main economic and social development goals by 2025, focusing on strengthening domestic demand and addressing the current issue of weak demand [1][4]. Economic Growth and Performance - In 2025, China's GDP is projected to reach 140.19 trillion yuan, with a year-on-year growth of 5%, successfully meeting the initial target [4]. - The 5% growth rate positions China among the leading global economies, with the economic increment equivalent to that of a medium-sized economy [4]. Domestic Demand Strategy - The NDRC plans to formulate a strategic implementation plan for expanding domestic demand from 2026 to 2030, emphasizing the need for a dynamic balance between supply and demand [6]. - The focus will be on adapting to demand upgrades and leveraging new technological revolutions to stimulate economic growth [6]. Industrial Development and Innovation - The NDRC emphasizes the importance of the real economy and aims to accelerate the construction of a modern industrial system, promoting intelligent, green, and integrated development [7]. - There will be a strong push for innovation in key industries, with a focus on artificial intelligence, biomedicine, and robotics, which are leading globally [4][7]. Policy Implementation and Support - The "Two New" policies, particularly the "old-for-new" consumption initiative, will continue to be implemented to stimulate consumer spending [8]. - A total of 625 billion yuan in special long-term bonds will be allocated to support the "old-for-new" program, with specific subsidies for various consumer products [8]. Funding and Project Management - The NDRC will lower investment thresholds for project applications and enhance support for small and medium-sized enterprises to broaden the policy's reach [9]. - There will be a focus on improving the efficiency of fund usage and ensuring effective management of equipment renewal projects [9].

Group 1 - The core message emphasizes the importance of deepening the understanding and implementation of the spirit of the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China, aiming for a solid start to the "14th Five-Year Plan" under the strong leadership of the Party Central Committee [1][5][12] - The speech highlights the need to maintain a reasonable proportion of the manufacturing industry and to vigorously develop advanced manufacturing, promoting the deep integration of technological and industrial innovation [3][4] - It stresses the importance of improving people's livelihoods as a key aspect of social development, indicating a focus on enhancing the quality of life for citizens [6][8][11] Group 2 - The speech calls for a focus on domestic circulation, correctly addressing the relationship between demand and supply, and ensuring that local and special planning aligns with national strategic goals [4][10] - It advocates for establishing and practicing a correct view of performance, emphasizing the need to base actions on reality and adhere to regulations, with a commitment to achieving results through practical efforts [11][12]

Group 1 - The primary task for this year's economic work is to strengthen domestic demand and build a robust domestic market, with a focus on enhancing the domestic circulation by 2026 [1] - The government will optimize the support scope and subsidy standards for the "two new" policies, aiming to lower investment thresholds for project applications and increase support for small and medium-sized enterprises [2] - There will be a quarterly allocation of central funds for the replacement of old consumer goods, guiding local governments to spend subsidy funds in a balanced and orderly manner [2] Group 2 - The government plans to establish a national-level merger fund and enhance the planning and guidance of government investment funds to accelerate the development of a modern industrial system [2] - Efforts will be made to formulate regulations for the construction of a unified national market, addressing issues of "involution" competition and improving mechanisms for market access, fair competition, and capacity exit [3] - The government aims to actively resolve the temporary contradictions arising from oversupply in the market [3]

中国将研究制定未来五年扩大内需战略实施方案 一是要坚持把宏观政策的发力点放在做强国内大循环上，全方位扩大国内需求。重点是要适应需求升级 的趋势，结合新一轮科技革命和产业变革的需要，研究制定出台2026—2030年扩大内需战略实施方案， 为以新需求引领新供给、以新供给创造新需求提供强有力的创新举措和要素保障，努力实现供需互促、 循环升级。 二是坚持把发展经济的着力点放在实体经济上，加快构建现代化产业体系。要发挥好国家创业投资基金 行业标杆作用，研究设立国家级并购基金，加强政府投资基金布局规划和投向指导，促进创新创业创 造，加快培育和发展新质生产力。 三是坚持把市场运行的调控点放在纵深推进全国统一大市场建设上，充分激发市场活力。重点是要综合 整治"内卷式"竞争，实现从"卷价格"向优价值转变。要完善市场准入、公平竞争、产能退出等机制，加 强产能调控，积极化解供大于求的阶段性矛盾。进一步细化地方招商引资鼓励和禁止事项边界，规范地 方经济促进行为。加强重点行业价格监管，依法依规治理企业低价无序竞争，形成优质优价、良性竞争 的市场秩序。大力实施质量品牌战略，引导破解"内卷式"竞争。(完) 来源：中国新闻网 编辑：张嘉怡 ...

记者 辛圆 国家发改委副主任王昌林在周二的国新办发布会上表示，当前我国经济运行存在供强需弱的问题，接下 来要坚持把宏观政策的发力点放在做强国内大循环上，全方位扩大国内需求。 国家发改委和财政部在去年12月30日发布了《2026年实施大规模设备更新和消费品以旧换新政策》的通 知，并下达了第一批625亿元超长期特别国债支持消费品以旧换新资金计划，对补贴项目做了一定优 化。 1月16日召开的国务院常务会议指出，去年开展提振消费专项行动以来，各地区各部门持续用力抓好政 策落实，取得积极成效。要深入实施提振消费专项行动，充分释放各项政策集成效应，推动惠民生和促 消费紧密结合，有效增强居民消费内生动力，充分发挥消费拉动经济增长的基础性作用。 国常会同时明确，要加快培育服务消费新增长点，支持新业态新模式新场景竞相涌现，增加优质服务供 给，解决好信用、标准、安全管理等问题，促进服务消费提质惠民。 中国银河证券宏观分析师张迪对智通财经表示，展望2026年，我国经济结构有望逐步向内需倾斜，在增 收和投资企稳政策的支持下，内需贡献提升，服务业"扩能提质"有望提高第三产业贡献度；若外需仍 强，政策主基调以"跨周期"为主，反之将转向更 ...

据人民财讯1月20日电，1月20日，国新办举行新闻发布会，介绍落实中央经济工作会议精神，推动"十 五五"实现良好开局有关情况。国家发展改革委副主任王昌林表示，当前我国经济运行存在供强需弱的 问题，接下来要坚持把宏观政策的发力点放在做强国内大循环上，全方位扩大国内需求，重点是要适应 我们国家需求结构升级趋势。结合我们新一轮科技革命和产业变革的需要，今年，发改委将研究制定出 台2026年—2030年扩大内需战略实施方案，以新供给创造新需求，提供强有力的创新举措和要素保障。 ...

Group 1 - The Supreme People's Procuratorate emphasizes the need to utilize legal power to support high-quality development and maintain economic and financial security [1] - Strict punishment for serious economic crimes, including smuggling of strategic minerals, is mandated to protect national strategic interests [1] - Collaboration with financial regulatory authorities to combat illegal financial activities, including illegal fundraising and financial fraud, is highlighted to ensure stable financial operations and protect public property [1] Group 2 - Focus on strengthening domestic circulation and building a robust domestic market while ensuring equal legal protection for various business entities [2] - Emphasis on judicial protection of intellectual property rights, particularly in emerging technologies such as artificial intelligence and data [2] - The need for enhanced supervision and correction of prominent issues in enterprise-related law enforcement is stressed to promote a fair business environment [2]

Economic Growth - China's GDP reached 140 trillion yuan in 2025, growing by 5% year-on-year, maintaining the same growth rate as the previous year [2][3] - The contribution rates to economic growth from final consumption expenditure, capital formation, and net exports were 52.0%, 15.3%, and 32.7% respectively in 2025 [5] Industrial Production - The industrial added value in 2025 was 41.7 trillion yuan, increasing by 5.8% year-on-year, contributing 35% to economic growth [8][9] - Manufacturing output reached 34.7 trillion yuan, with a growth rate of 6.1%, maintaining a stable share of around 25% of GDP [8] Consumer Behavior - Service consumption accounted for 46.1% of per capita consumption expenditure in 2025, indicating a shift towards service-oriented spending [6] - Retail sales of consumer goods exceeded 50 trillion yuan, growing by 3.7% year-on-year, with service retail sales increasing by 5.5% [5][6] Economic Outlook - The economic growth rate is expected to remain stable in 2026, with a focus on enhancing industrial development and technological innovation [10][11] - Despite challenges, the long-term positive trend of the economy is expected to continue, supported by a large middle-income population and ongoing consumption upgrades [6][10]