Economic Growth and Inflation - The government has set the economic growth target for 2026 at 4.5%-5%, allowing for flexibility in policy implementation while aiming for better outcomes [2] - The CPI target for 2026 remains at 2%, with a focus on controlling inflation and improving corporate profitability and household income expectations [2] Employment Stability - The target for urban new employment in 2026 is maintained at over 12 million, with the urban survey unemployment rate aimed to stay around 5.5% [3] Fiscal Policy - The government plans to implement a more proactive fiscal policy, maintaining a deficit rate around 4% and increasing the deficit scale to 5.89 trillion yuan [6] - Local special bond quotas are set at 4.4 trillion yuan, and the issuance of long-term special government bonds is planned at 1.3 trillion yuan to support key initiatives [6] Efficiency of Fiscal Funds - The fiscal policy structure will focus on enhancing the effectiveness of fund usage, with an emphasis on supporting consumption, investment in human capital, and ensuring livelihood [9] Monetary Policy - The monetary policy will continue to be moderately loose, utilizing structural monetary policy tools to support domestic demand and key sectors such as technology and small enterprises [9] Consumer Promotion - The government will enhance consumer policies, including support for low-income groups and the promotion of service consumption, aiming for sustainable growth in domestic demand [12] Investment Focus - The investment strategy will prioritize both "investment in material" and "investment in people," with an increase in central budget investment and support for social capital investment [13] New Economic Drivers - The report emphasizes the importance of the real economy, with plans to support traditional industries and develop emerging sectors such as integrated circuits and aerospace [14] Real Estate Market - The government aims to stabilize the real estate market by optimizing supply and enhancing housing security for newly married and multi-child families [14]

Economic Growth and Inflation - The government sets the economic growth target for 2026 at 4.5%-5%, allowing flexibility for structural reforms and risk management[2] - The CPI target for 2026 is set at 2%, with a prior target of around 3% until 2025 to control inflation[2] Fiscal Policy - The deficit rate is maintained at around 4%, with the deficit scale increasing to 5.89 trillion yuan from 5.66 trillion yuan in 2025[3] - Local special bond quota remains at 4.4 trillion yuan, while 1.3 trillion yuan in long-term special bonds will be issued for key projects[3] Monetary Policy - The monetary policy remains "appropriately loose," with structural tools expanded to support domestic demand and innovation[3] - The focus is on reducing financing costs for key sectors, including small and medium enterprises[3] Consumer Promotion - Policies to boost consumption include 2.5 billion yuan in special bonds for upgrading consumer goods and 1 billion yuan in financial support for domestic demand[4] - Emphasis on income distribution reform and public service equalization to stimulate sustainable consumer growth[4] Investment Strategy - Central budget investment is increased to 755 billion yuan, with a focus on enhancing public welfare investments[4] - The issuance of new policy financial instruments totaling 800 billion yuan aims to attract private capital for major projects[4]