"坚持投资于物和投资于人紧密结合"是2025年中央经济工作会议"五个必须"中的一项重要内容。从 人社部、教育部等多部门密集出台配套政策，到各类企业主动加码人力资本投入，2025年的中国正开启 一场聚焦人口质量提升、人力潜能激发、人才价值释放的系统性投资，推动人口质量红利逐步替代传统 数量红利，为经济高质量发展注入持久动力。 针对重点人群的保障措施也持续升级。在银发经济领域，政策推动社区养老、适老化改造等领域创 新，以"基础类+可选类"模式扩大适老化改造覆盖面，同时积极开发老年人力资源。 政策引导下，产业界逐渐将"投资于人"转化为核心竞争力，在先进制造、数字经济、现代服务等领 域形成"培训赋能—岗位吸纳—价值提升"的良性循环。专精特新"小巨人"企业成为吸纳人才的主力军， 通过人社专员"一对一"对接服务，建立人才需求清单，针对高端技术岗位推出"定制化培训"。 数字化转型催生新的人才投资方向。11月，国家发改委、国家数据局、教育部等多部委联合发布 《关于加强数据要素学科专业建设和数字人才队伍建设的意见》，提出以产业发展为导向，推进数据行 业职业教育，鼓励各地以产业园区为基础，打造兼具人才培养、创新创业、促进数据产业 ...

对于各界普遍关系的消费问题，林成炜表示，刚刚结束的中央经济工作会议将扩大内需放在首要位置，提振消费对于中国经济健康运行至关重要。 那么，如何才能提振消费？"提高消费率不等于需求侧刺激。"林成炜称，提振消费的第一个环节提高劳动者的实际收入及收入预期；同时，通过收入分配政 策改革，即税收制度的调整来实现收入再平衡。此外，还将通过扩大优质消费品和服务供给、清理消费不合理限制性措施等方式提高居民消费率。 对于大类资产而言，林成炜认为，A股有望形成低波红利与科技成长交织的结构化行情。黄金在2026年仍有望继续冲高，但在美国经济逐步走出困境、地缘 局势缓和、美元波动放缓等因素影响下，黄金上涨斜率或将更为平缓。此外，在先立后破及反内卷治理的整体基调下，预计基本金属价格将在实现供需动态 新均衡的过程中迎来戴维斯双击行情，看好铜价的未来表现。 12月12日，由上海证券报与交通银行上海市分行联合主办、基煜基金全程协办的"上证·大虹桥金融高质量发展大会"在上海长宁举办。浙商证券宏观首席分 析师林成炜在会上表示，"十五五"时期是基本实现社会主义现代化进程中"承前启后"的阶段，在百年未有之大变局下，高质量发展仍是核心。 上证报中国证券 ...

Group 1 - The core viewpoint of the article emphasizes the need to implement a plan to increase income for low-income groups and expand the middle-income group, aiming to reduce income disparity and promote common prosperity [1][3] - The "olive-shaped distribution pattern" is proposed, which aims for a larger middle-income group and smaller low and high-income groups, reflecting a more equitable income distribution [6][7] - The article discusses the importance of human capital investment in increasing income for low-income groups, highlighting the significant impact of education on wage disparities [3][5] Group 2 - The article notes that consumer spending growth is closely tied to income increases, suggesting that long-term economic growth relies on raising residents' incomes rather than short-term stimulus measures [2][4] - Specific measures to increase income for low-income groups include enhancing human capital investment, providing more income-generating opportunities, and increasing transfer payments [3][5] - The article outlines strategies to stabilize the income of existing middle-income groups, focusing on reducing their financial burdens through increased public investment in education, healthcare, and social security [7][8]

Core Viewpoint - The Chinese government is gradually implementing free preschool education policies, marking a significant transition from "basic popularization" to "high-quality and inclusive" education, with over 90% gross enrollment rate achieved in preschool education [1][2]. Group 1: Policy Implementation - The key points for the gradual implementation of free preschool education include strengthening universal access, with coverage expected to reach approximately 12 million children starting from the fall semester of 2025 [2]. - The approach emphasizes a steady and orderly progression, ensuring sustainability while continuously researching and refining policy measures [2]. - Increased government investment is planned to reduce family education expenses, with a focus on precise financial support shared between central and local governments [2]. Group 2: Educational Impact - Preschool education is viewed as the "first button" of the national education system, serving as a barometer for public welfare and a catalyst for population quality [2]. - The initiative is not merely an expansion of educational benefits but aligns with the strategy of building a strong education system, addressing public expectations for affordable and quality upbringing, and connecting with global educational trends [2]. - The core value lies in transforming educational equity into a driving force for demographic quality dividends through institutional breakthroughs [2].

Core Viewpoint - The Chinese government is gradually implementing free preschool education policies, marking a significant transition from "basic popularization" to "high-quality and inclusive" education, with over 90% gross enrollment rate achieved in preschool education [1][2] Group 1: Policy Implementation - The key points for the gradual implementation of free preschool education include strengthening universal access, with coverage expected to reach approximately 12 million children by the fall semester of 2025 [2] - The approach emphasizes a steady and orderly progression, ensuring sustainability while continuously researching and improving policy measures [2] - Increased government investment is aimed at reducing family education expenses through a "plus" in government funding [2] - Financial support will be precisely allocated, with funding shared between central and local governments [2] Group 2: Educational Impact - Preschool education is viewed as the "first button" of the national education system, serving as a barometer for public welfare and a catalyst for population quality [2] - The move towards free preschool education is not merely an expansion of educational benefits but aligns with the strategy of becoming an education powerhouse and addresses public expectations for affordable and quality upbringing [2] - The core value lies in transforming educational equity into a driving force for demographic quality dividends through institutional breakthroughs [2]