（文章来源：央视新闻） 中共中央今天（24日）上午举行新闻发布会，介绍和解读党的二十届四中全会精神。 中央财办分管日常工作的副主任、中央农办主任韩文秀介绍关于"十五五"时期经济社会发展的指导方 针。《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》强调，要全面贯彻习近平新时 代中国特色社会主义思想，围绕全面建成社会主义现代化强国、实现第二个百年奋斗目标，以中国式现 代化全面推进中华民族伟大复兴，统筹推进"五位一体"总体布局，协调推进"四个全面"战略布局，完整 准确全面贯彻新发展理念，加快构建新发展格局。《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》提出"五个以""两个推动""一个确保"的要求，即：坚持以经济建设为中心，以推动高质 量发展为主题，以改革创新为根本动力，以满足人民日益增长的美好生活需要为根本目的，以全面从严 治党为根本保障，推动经济实现质的有效提升和量的合理增长，推动人的全面发展、全体人民共同富裕 迈出坚实步伐，确保基本实现社会主义现代化取得决定性进展。《建议》指出，"十五五"时期经济社会 发展必须遵循六项重大原则，即：坚持党的全面领导、坚持人民至上、坚持高质量发展、坚持 ...

1. Report's Industry Investment Rating - Aluminum: The center of gravity moves upward [1] - Alumina: Oscillates at the bottom [1] - Cast aluminum alloy: Has upward elasticity [1] 2. Core Viewpoints of the Report - The report updates the fundamental data of aluminum, alumina, and cast aluminum alloy, including prices, trading volumes, positions, spreads, and inventory in the futures and spot markets [1] - "During the 15th Five - Year Plan period, China will focus on building a modern industrial system, achieving high - level scientific and technological self - reliance and self - strength, building a strong domestic market, and accelerating the construction of a high - level socialist market economic system. The US has established a critical minerals investment fund with a target scale of $5 billion" [3] - The trend strength of aluminum is 1, alumina is 0, and aluminum alloy is 1 [3] 3. Summary by Related Catalogs Futures Market - **Aluminum**: The closing price of the Shanghai Aluminum main contract is 21,165, with changes of 120 compared to T - 1, 190 compared to T - 5, 445 compared to T - 22, and 30 compared to T - 66. The LME Aluminum 3M closing price is 2,865 [1] - **Alumina**: The closing price of the Shanghai Alumina main contract is 2,838, with changes of 9 compared to T - 1, - 122 compared to T - 5, - 233 compared to T - 22, and 48 compared to T - 66 [1] - **Aluminum Alloy**: The closing price of the aluminum alloy main contract is not provided, and the night - session closing price is 20,705 [1] Spot Market - **Aluminum**: The electrolytic aluminum enterprise profit is 4,959.89, with changes of 72.03 compared to T - 1, 161.71 compared to T - 5, 796.28 compared to T - 22, and 612.09 compared to T - 66. The domestic aluminum ingot social inventory is 60.70 million tons [1] - **Alumina**: The domestic average alumina price is 2,929, with changes of - 6 compared to T - 1, - 33 compared to T - 5, - 217 compared to T - 22, and - 192 compared to T - 66 [1] - **Aluminum Alloy**: The theoretical profit of ADC12 is 44, with changes of - 160 compared to T - 1, - 160 compared to T - 5, - 118 compared to T - 22, and 449 compared to T - 66 [1] Other Information - The US government, private equity firm Orion Resource Partners, and Abu Dhabi sovereign wealth fund ADQ have established a critical minerals investment fund with an initial commitment of $1.8 billion and a target scale of $5 billion [3]

Core Points - The Fourth Plenary Session of the 20th Central Committee of the Communist Party of China outlines the direction and methods for achieving Chinese-style modernization, emphasizing the importance of unity and collective effort under the leadership of Xi Jinping [1][2] - Shanghai aims to leverage its role as a pioneer in reform and innovation to contribute significantly to the national development goals set for the 14th and 15th Five-Year Plans [1][2][4] Group 1: Achievements and Future Goals - The session highlighted significant achievements during the 14th Five-Year Plan period, noting advancements in economic strength, technological capabilities, and overall national power [2] - The upcoming 15th Five-Year Plan is positioned as a critical phase for further economic and social development, with a focus on high-quality growth and strategic initiatives [2][4] Group 2: Local Implementation Strategies - Local leaders in Shanghai express commitment to implementing the session's spirit by aligning their actions with national directives and focusing on economic and social development [2][3][8] - Specific strategies include enhancing industrial transformation, promoting innovation, and improving public services to elevate the quality of life for residents [3][8] Group 3: Economic and Industrial Development - The session calls for the establishment of a modern industrial system, emphasizing the importance of a robust real economy as a foundation for national competitiveness and security [5] - There is a strong focus on integrating advanced manufacturing, artificial intelligence, and other leading industries to drive economic growth and innovation [5][6] Group 4: Social and Cultural Contributions - Local governments are encouraged to enhance cultural and social services, aiming to create a more livable urban environment and improve community welfare [8][9] - The importance of cultural heritage and its role in fostering national identity and international cultural exchange is also emphasized [9][10]

Core Viewpoint - The Fourth Plenary Session of the 20th Central Committee of the Communist Party of China outlines the blueprint for China's development in the 15th Five-Year Plan period, emphasizing high-quality development and the achievement of socialist modernization by 2035 [1][3]. Group 1: Economic and Social Development Goals - The main goals for the 15th Five-Year Plan include significant achievements in high-quality development, substantial improvements in self-reliance in technology, breakthroughs in deepening reforms, enhanced social civilization, improved quality of life, progress in building a beautiful China, and strengthened national security [3][4]. - By 2035, China aims to significantly enhance its economic, technological, defense, and comprehensive national strength, with per capita GDP reaching the level of moderately developed countries, and to ensure a happier and better life for its people [3][4]. Group 2: Development Strategy and Focus - The fundamental requirement for economic and social development during the 15th Five-Year Plan is to achieve effective qualitative improvement and reasonable quantitative growth, promoting comprehensive human development and common prosperity [4][5]. - The focus will be on the real economy, building a modern industrial system, and developing new productive forces, while expanding domestic demand and constructing a strong domestic market [4][5]. Group 3: Market and Innovation - The 15th Five-Year Plan period is crucial for enhancing supply-side quality and technological levels, forming a strong national unified market, and accelerating the construction of a new development pattern [5]. - The strategy emphasizes the interaction between new demand and new supply, promoting a virtuous cycle of consumption and investment, and enhancing the internal dynamics and reliability of domestic circulation [4][5].

中国共产党第二十届中央委员会第四次全体会议，于2025年10月20日至23日在北京举行。全会审议通过 了《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》，为未来五年中国发展擘画蓝 图。 全会将"推动经济实现质的有效提升和量的合理增长，推动人的全面发展、全体人民共同富裕迈出坚实 步伐"作为"十五五"时期经济社会发展的根本要求，以确保基本实现社会主义现代化取得决定性进展。 这两个要求是相辅相成、相互转化的关系，经济实现质的有效提升和量的合理增长才能促进人的全面发 展与共同富裕；只有实现人的全面发展、共同富裕，才会有更多的人才、需求支撑带动经济质的有效提 升和量的合理增长，两者辩证统一，相互促进。 因此，全会强调坚持把发展经济的着力点放在实体经济上，建设现代化产业体系，并且要把因地制宜发 展新质生产力摆在更加突出的战略位置，抓住新一轮科技革命和产业变革历史机遇，大力发展新质生产 力。与此同时，坚持扩大内需这个战略基点，建设强大国内市场，加快构建新发展格局。最终以新需求 引领新供给，以新供给创造新需求，促进消费和投资、供给和需求良性互动，增强国内大循环内生动力 和可靠性。 "十五五"时期既要求我国供给侧质 ...

Core Points - The Fourth Plenary Session of the 20th Central Committee of the Communist Party of China was held from October 20 to 23, 2025, in Beijing, where the "Suggestions on Formulating the 15th Five-Year Plan for National Economic and Social Development" were approved [1] - The "15th Five-Year" period is seen as a critical time for achieving socialist modernization and aims to continue the rapid economic development and long-term social stability of China [1] Economic Development Goals - The main goals for the "15th Five-Year" period include significant achievements in high-quality development, substantial improvements in technological self-reliance, breakthroughs in comprehensive deepening of reforms, enhanced social civilization, improved quality of life, major progress in building a beautiful China, and strengthened national security [1][2] - By 2035, the aim is for China's economic strength, technological capability, national defense, comprehensive national power, and international influence to significantly increase, with per capita GDP reaching the level of moderately developed countries [1] Focus on High-Quality Development - High-quality development is prioritized, indicating a continuation of current policies aimed at economic structural transformation and the development of new productive forces [2] - The construction of a modern industrial system is emphasized as a key driver for high-quality economic development, focusing on the real economy and promoting intelligent, green, and integrated development [2][3] Domestic Market Development - The session highlighted the importance of building a strong domestic market and accelerating the establishment of a new development pattern, emphasizing the expansion of domestic demand as a strategic foundation [3][4] - The approach includes promoting consumption, effective investment, and ensuring a positive interaction between supply and demand to enhance the internal dynamics of the domestic economy [4] Macroeconomic Governance - The session called for accelerating the construction of a high-level socialist market economy and enhancing the driving force for high-quality development [5] - It aims to stimulate the vitality of various business entities and improve the efficiency of macroeconomic governance [5][6] Fiscal and Monetary Policy - The fiscal and monetary policies during the "15th Five-Year" period will focus on providing financial resources for major national strategies and implementing counter-cyclical adjustments to stabilize the macroeconomic operation [6] - The policies will maintain strong stability and continuity, with a focus on supporting employment, businesses, and market expectations to consolidate economic recovery [6]

中国共产党第二十届中央委员会第四次全体会议，于2025年10月20日至23日在北京举行。中央委员会 总书记习近平 作重要讲话。新华社记者 谢环驰 摄 中国共产党第二十届中央委员会第四次全体会议，于2025年10月20日至23日在北京举行。中央政治局 主持会议。 新华社记者 丁海涛 摄 新华社北京10月23日电 中国共产党第二十届中央委员会第四次全体会议公报 （2025年10月23日中国共产党第二十届中央委员会第四次全体会议通过） 中国共产党第二十届中央委员会第四次全体会议，于2025年10月20日至23日在北京举行。 出席这次全会的有，中央委员168人，候补中央委员147人。中央纪律检查委员会常务委员会委员和有关 方面负责同志列席会议。党的二十大代表中部分基层同志和专家学者也列席了会议。 全会高度评价"十四五"时期我国发展取得的重大成就。"十四五"时期我国发展历程极不寻常、极不平 凡。面对错综复杂的国际形势和艰巨繁重的国内改革发展稳定任务，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、砥砺前行，经受住世纪疫情严重冲击，有效应对一系列重大风险挑 战，推动党和国家事业取得新的重大成就。我国经济实 ...

Core Viewpoint - The Fourth Plenary Session of the 20th Central Committee of the Communist Party of China emphasizes the construction of a strong domestic market and the acceleration of a new development pattern, focusing on expanding domestic demand and enhancing the interaction between consumption and investment [1][3]. Group 1: Strong Domestic Market - The market is identified as a scarce resource, with China's large-scale market being a significant advantage, showcasing resilience amid complex external environments. From 2021 to 2024, domestic demand is expected to contribute an average of 86.8% to economic growth [3]. - The emphasis on expanding domestic demand is seen as a strategic foundation for establishing a new development pattern that prioritizes domestic circulation while promoting international circulation [3]. - The document highlights the importance of the domestic market, which covers over 1.4 billion people, aiming to enhance China's role as a significant consumer market globally [3]. Group 2: Investment in Goods and People - The 2025 Government Work Report calls for more resources to be invested in human capital and public services, supporting employment, income growth, and consumption incentives to create a virtuous cycle of economic development and improved livelihoods [5]. - The combination of investment in goods and people is emphasized as essential, with a focus on not only tangible assets but also on human capital to meet the demands of the new industrial and technological revolution [5][6]. - Investment in human capital is increasingly recognized as crucial for economic growth, with a broad definition that includes healthcare, sports, talent development, and social security, indicating a need for more policies in this area over the next five years [6].

记者丨周慧 中国共产党第二十届中央委员会第四次全体会议，于2025年10月20日至23日在北京举行。 全会提出，建设强大国内市场，加快构建新发展格局。坚持扩大内需这个战略基点，坚持惠民生和促消费、投资于物和投资于 人紧密结合，以新需求引领新供给，以新供给创造新需求，促进消费和投资、供给和需求良性互动，增强国内大循环内生动力 和可靠性。要大力提振消费，扩大有效投资，坚决破除阻碍全国统一大市场建设卡点堵点。 21世纪经济报道记者就此采访了商务部研究院、北京大学经济学院等专家进行解读。 图：2025年初，沈阳棋盘山滑雪场游客扎堆 拍摄：周慧 商务部研究院研究员白明表示，公报提出坚持扩大内需的这个战略基点，将坚持扩大内需提到了重要的位置，只有夯实了这个 基点，中国才能得以构建以国内大循环为主体、国内国际双循环相互促进的新发展格局，这是具有长远眼光的宏观战略。从发 展格局来看，中国双循环并重，有了这个基点做支撑，中国在外循环上才能占据主动和更自信。 商务部研究院研究员周密表示，公报将建设强大国内市场提到了很重要的位置，强调了国内市场的重要性，中国市场覆盖14亿 多人口，市场规模和潜力是非常大的，这个目标是希望能够对全球 ...

高质量发展是中国式现代化的必然要求，关系我国社会主义现代化建设全局。壹引其纲，万目皆张。高 质量发展是对经济社会发展方方面面的总要求，是所有地区发展都必须贯彻的要求，是必须长期坚持的 要求。"十五五"时期，必须坚持高质量发展不动摇，完整准确全面贯彻新发展理念，加快构建新发展格 局，加快高水平科技自立自强，引领发展新质生产力，建设现代化产业体系，让新动能更加澎湃、新优 势更加彰显，牢牢把握发展主动权。 向新而行，以质致远，"十五五"的发展前景光明、未来可期！ 党的二十届四中全会强调，"十五五"时期经济社会发展，必须以推动高质量发展为主题，坚定不移推动 高质量发展。这为我们推动经济持续健康发展和社会全面进步、扎实推进中国式现代化指明了努力方向 和实践路径。 ...