（来源：中国经济导报） 转自：中国经济导报 本报记者 | 张子麟 2026年作为"十五五"规划的开局之年，其发展成色直接关乎未来五年发展基调与2035年远景目标进程。 2025年12月召开的中央经济工作会议部署了坚持内需主导、坚持创新驱动、坚持改革攻坚等八项重点任 务。近期，国家发展改革委、财政部、工业和信息化部等部门密集召开工作会议，对标中央经济工作会 议部署，细化落实相关举措，形成上下联动、协同推进的发展合力，为2026年经济社会高质量发展绘就 行动蓝图，全力确保"十五五"开好局、起好步。 坚持内需主导，激活增长内生动力 中央经济工作会议将"坚持内需主导，建设强大国内市场"置于八项重点任务首位，而多部门围绕这一部 署，打出了政策"组合拳"。 中国人民银行工作会议强调"提升金融服务实体经济高质量发展质效"，具体措施包括，完善结构性货币 政策工具体系，优化工具设计和管理，加强对扩大内需、科技创新、中小微企业等重点领域的金融支 持；高质量建设和发展债券市场"科技板"；用好服务消费与养老再贷款，推动加大服务消费领域信贷投 放等。 强化创新驱动，培育新质生产力动能 紧扣中央经济工作会议提出的"坚持创新驱动，加紧培育 ...

2025年，中国经济展现出令人瞩目的韧性与活力，通过深度的结构调整和精准的宏观政策，不仅实现了 稳定增长，也为"十五五"时期的开启积蓄了力量。 这一年，中国经济顶住压力，前三季度国内生产总值（GDP）实现了5.2%的同比增长。这一速度不仅 高于国际货币基金组织（IMF）等机构在年初的预测，在全球主要经济体中也位居前列。这一年，中国 经济的增长动能经历了一场深刻的"系统升级"，核心特征是新质生产力的加速成长：产业升级态势明 显，先进制造业支撑作用增强；新兴产业发展壮大，为经济注入新动能；市场需求焕新提升，新需求不 断扩大。这一年，我国政府实施了一系列靶向精准的宏观政策。在投资方面，聚焦数字经济、人工智能 等前沿领域以赢得未来竞争力；支持城市更新、交通能源等薄弱环节以增强发展后劲；通过设备更新和 消费品以旧换新，直接撬动消费与投资，形成良性循环。更重要的是，这一年，我国启动了国民经济和 社会发展第十五个五年规划（"十五五"规划）的编制工作，为中长期发展指明了方向。"十五五"规划建 议明确了以高质量发展为核心，设定了"经济增长保持在合理区间""全要素生产率稳步提升"和"居民消 费率明显提高"等可量化的目标。这份蓝图 ...

申万宏源宏观团队 赵伟/贾东旭/侯倩楠 本周首推 有别于大众的认识 相比市场预期，我们对本次经济工作会议财政货币政策表述更为积极乐观。 其中，央行的职能目标扩展至"促进经济稳定增长"与"物价合理回 升"，结构性货币政策工具和政策性金融工具将发挥更主导的作用，甚至部分承担财政功能。 2025 年中央经济工作会议提出的五个 "必须" 与 2024 年五个 "统筹" 逻辑呼应，突出经济潜能挖掘、政策改革协同等导向；直指 "供强需弱" 核心痛点；2026 年经济目标侧重总量引领，强调质的有效提升和量的合理增长，契合 "十五五" 开局稳增长诉求。 财政政策延续 "更加积极" 取向，强调保持必要赤字与债务规模，聚焦地方财政困难与化债工作；货币政策以稳增长、促物价合理回升为目 标，拟灵活运用降准降息工具，通过中小金融机构提质畅通传导机制；新增强调存量与增量政策集成效应，扩大宏观政策取向一致性评估范 围。 经济工作中，坚持内需主导仍是首位，会议提出通过居民增收、服务消费提质、扩大预算内投资等稳消费稳投资。深化改革攻坚仍是重 点，会议提出纵深推进统一大市场建设、深入整治 "内卷式" 竞争。强化 "双碳" 引领位置前移，明确提出 ...

改革发展无止境。我们要自觉运用习近平经济思想谋划工作、指导实践，进一步增强做好经济工作的责 任感使命感，有力有效应对各种风险挑战，奋力把各方面积极因素转化为发展实绩，坚定信心、勇毅前 行，在高质量发展之路上不断取得新成效。 来源：央视网 （文章来源：南方都市报） 中央经济工作会议在部署明年经济工作的重点任务时，把"坚持改革攻坚，增强高质量发展动力活力"列 为"八个坚持"之一，并提出"高质量推进城市更新""实施新一轮重点产业链高质量发展行动""推动共 建'一带一路'高质量发展""推动县域经济高质量发展""推动海洋经济高质量发展"……这一系列部署，鲜 明释放了坚定不移以高质量发展推进中国式现代化的强烈信号。 2026年是"十五五"开局之年。党的二十届四中全会在"十五五"规划建议中将"以推动高质量发展为主 题"列入"十五五"时期经济社会发展的指导思想；强调"坚持高质量发展"是必须遵循的六大原则之 一，"高质量发展取得显著成效"作为七大主要目标之首……足见高质量发展在"十五五"中的千钧分量。 我们必须从确保"十五五"开好局、起好步，为基本实现社会主义现代化奠定更加坚实基础的高度来谋划 明年经济工作，在开局之年展现新作 ...

央视网消息（新闻联播）：本台今天（12月15日）播发央视快评《坚持改革攻坚，增强高质量发展动力 活力》。 ...

全文共14877字，阅读大约需要30分钟 文 财信研究院宏观团队 伍超明、胡文艳、李沫、段雨佳 事件 中央经济工作会议12月10日至11日在北京举行，总结2025年经济工作，分析当前经济形势，部署2026年经济工作。 核心观点 一、经济形势：问题挑战仍然不少，但基调更趋积极。对外部环境，强调变化影响加深，但删去"不利"二字，反映我国应对外部挑战的战略主动权增 强，预计2026年外部环境将从高度动荡走向边际趋稳。国内经济供强需弱矛盾突出，被明确界定为"发展中、转型中的问题"，预计2026年在政策推动 下，经济有望稳步走向供需再平衡。 二、"五个必须"：苦练内功，充分挖掘经济潜能。为做好新形势下的经济工作，会议明确提出"五个必须"。其中，"必须以苦练内功来应对外部挑 战"是基于外部大变局和内部大转型交织背景下提出的根本方针；"必须充分挖掘经济潜能"是落实"苦练内功"的核心路径；"必须坚持政策支持与改革 创新并举"、"必须做到既'放得活'又'管得好'"、"必须坚持投资于物与投资于人紧密结合"，是挖掘经济潜能的三大关键抓手。 三、2026年增长目标：预计实现名义和实际GDP增长5%左右。首先，5%的增长目标是为实现" ...

Group 1: Macroeconomic Policy and Domestic Market - The core macroeconomic policy emphasizes a more proactive approach, focusing on quality and efficiency as key development themes, with the "Eight Persistences" as critical directives for economic work in the first year of the 14th Five-Year Plan [1] - Domestic demand has become the main driver of economic growth, contributing an average of 93.1% to economic growth from 2013 to 2024, highlighting the importance of a strong domestic market as a long-term strategy [2][3] Group 2: Innovation and New Growth Drivers - The necessity of innovation-driven growth is underscored, as new momentum is essential for future development and competitive positioning, requiring a systemic reshaping of production factors and business models [4][5] - The development of new momentum must support both high-end industries and traditional industry upgrades, creating high-quality employment and meeting the needs of the populace [5] Group 3: Reform and High-Quality Development - Continuous reform is essential to inject vitality into high-quality development, addressing deep-seated issues that have emerged due to changing development stages [6][7] - Emphasis on technological innovation as a key driver for high-quality development, necessitating a deep integration of innovation systems and breaking down institutional barriers [7] Group 4: Open Economy and International Cooperation - China aims for a higher level of openness, promoting multi-faceted cooperation to adapt to global economic changes and challenges, emphasizing the importance of collaborative networks in various fields [8][9] - The need for innovative cooperation mechanisms to address challenges posed by protectionism and geopolitical tensions is highlighted, focusing on quality and resilience in partnerships [9] Group 5: Coordinated Development and Urban-Rural Integration - The strategy of promoting coordinated development aims to address the growing disparities between urban and rural areas, emphasizing the need for a balanced and inclusive development approach [10][11] - Regional integration strategies like the Beijing-Tianjin-Hebei collaboration and the Yangtze River Economic Belt are examples of efforts to optimize resource allocation and promote high-quality regional economic layouts [11] Group 6: Green Transformation and Carbon Neutrality - The commitment to achieving carbon peak by 2030 and carbon neutrality by 2060 reflects China's responsibility in global climate governance and the need for a comprehensive green transformation [12][13] - Innovation is identified as the core engine for achieving carbon goals, requiring advancements in renewable energy, energy efficiency, and the establishment of supportive institutional frameworks [14] Group 7: Focus on People's Livelihood - The emphasis on prioritizing people's livelihoods reflects the increasing complexity of public demands, necessitating a responsive governance approach that addresses specific community needs [15][16] - Establishing long-term mechanisms to ensure sustainable improvements in public welfare is crucial, with a focus on resource allocation and social governance [16] Group 8: Risk Management - The need to manage risks in key areas such as real estate and local debt is highlighted, with a focus on maintaining stability while actively addressing potential threats [17][18] - A balanced approach to risk management is essential, combining immediate responses with long-term structural improvements to foster sustainable development [18]

登录新浪财经APP 搜索【信披】查看更多考评等级 中央经济工作会议12月10日至11日在北京举行。如何看待当前中国经济形势？明年"继续实施更加积极 的财政政策和适度宽松的货币政策"，释放出怎样的信号？八项重点任务蕴含怎样的发展新机遇？ 创金合信基金首席经济学家魏凤春表示，此次中央经济工作会议释放"政策延续扩张、存量增量并重"的 积极信号。他比较关注物价回升与居民增收，因为这会为经济常态化运行奠定基础。 1、会议强调明年经济工作要坚持稳中求进工作总基调，您如何理解和评价此次会议提出的总基调？ 创金合信基金首席经济学家魏凤春：稳中求进是经济仍处于恢复进程中、外部环境不确定加大背景下的 理性选择，强调以"稳"定预期、托底风险，以"进"提信心、增动能，在财力约束下统筹发展与安全，兼 顾短期稳增长与中长期高质量发展。 2、会议指出明年继续实施更加积极的财政政策和适度宽松的货币政策。您对明年宏观政策有怎样的期 待？ 创金合信基金首席经济学家魏凤春：在2026年的宏观政策安排上，总体判断是：在债务约束强化和经济 修复尚不牢固的背景下，政策仍将保持扩张取向，但更加注重"稳节奏、提效率、控风险"。 财政政策方面，更可能在维持支 ...

Core Viewpoint - The central economic work meeting emphasizes the integration of investment in both material and human resources, indicating a focus on improving people's livelihoods in 2026 [1][1]. Group 1: Investment in Human Resources - The meeting highlights the importance of investing in people and prioritizing livelihoods, suggesting that future economic efforts will concentrate on the welfare of the population [1][1]. - Key initiatives include stabilizing employment for critical groups such as college graduates and migrant workers, as well as enhancing the quality and capacity of job opportunities [1][1]. Group 2: Education and Structural Adjustments - There is a focus on restructuring the allocation of educational resources, which is seen as a significant step towards improving human capital [1][1]. - Experts are optimistic about the implementation of detailed measures related to educational reforms and resource distribution [1][1]. Group 3: Broader Economic Goals - The meeting also addresses broader tasks such as reform challenges and the "dual carbon" initiative, indicating a commitment to sustainable development [1][1]. - The anticipation of more specific measures being rolled out in the coming year reflects a proactive approach to economic management [1][1].

Core Insights - The Central Economic Work Conference held on December 10-11, 2025, is crucial for setting the direction for China's economic work in 2026 and ensuring a good start for the "15th Five-Year Plan" [1][2] - The conference emphasizes the importance of unity in thought, consensus, and confidence to navigate the complexities of the current economic landscape and achieve high-quality development [2][3] Economic Strategy - The conference outlines a series of strategic deployments focused on stabilizing and advancing economic growth, with a priority on domestic demand and building a strong domestic market [3] - Key tasks include boosting consumption, optimizing investment, fostering innovation, and addressing risks in real estate and local debt [3][4] Leadership and Governance - Strengthening the Party's comprehensive leadership over economic work is highlighted as essential for overcoming challenges and achieving targets [4] - The need for a correct performance view that prioritizes people's well-being and practical results is emphasized, along with avoiding bureaucratic tendencies [4] Future Outlook - The conference sets a clear roadmap for 2026, aiming for a robust start to the "15th Five-Year Plan" and a commitment to high-quality development [5] - A call for collective effort and determination to overcome obstacles and achieve economic goals is made, reinforcing the vision for a modern socialist country [5]