Core Viewpoint - The Central Economic Work Conference emphasized the "Five Musts" for economic work in 2026, focusing on leveraging economic potential, integrating policy support with reform innovation, balancing market and government roles, combining investments in physical and human capital, and strengthening internal capabilities to face external challenges [4][6][9]. Group 1: Economic Potential - The conference highlighted the importance of fully tapping into economic potential, leveraging China's large-scale market and strong production capacity to foster new growth opportunities [4][5]. - It was noted that China's economic foundation remains stable, with strong advantages and resilience, indicating a long-term positive trend [4]. Group 2: Policy Support and Reform - The meeting called for a dual approach of policy support and reform innovation to address existing structural, systemic, and cyclical issues [6]. - A more proactive fiscal policy and moderately loose monetary policy were emphasized, alongside the need for comprehensive reforms in key areas such as state-owned enterprises and market regulations [6][7]. Group 3: Market and Government Balance - The relationship between government and market roles was underscored, advocating for a balance where both can effectively contribute to economic development [7]. - The need for a refined approach to governance was highlighted, focusing on enhancing the quality of regulation while allowing market vitality [7]. Group 4: Investment Focus - The conference stressed the importance of combining investments in physical infrastructure with investments in human capital, aiming to enhance resource allocation in education, healthcare, and social security [8]. - This approach is intended to drive high-quality economic development by transforming human resources into sustainable human capital [8]. Group 5: Internal Strengthening - The need to strengthen internal capabilities to respond to external challenges was emphasized, with a focus on building a robust domestic market and fostering new growth drivers [9][10]. - The conference recognized the resilience of the Chinese economy despite external pressures, advocating for a concentrated effort on domestic development [9].

Group 1 - The core message of the Central Economic Work Conference emphasizes the "Five Musts" for economic work in 2026, which serve as a guide for current and future economic strategies [1] - The first "Must" is to fully tap into economic potential, leveraging China's large market size, strong production capacity, and rich talent resources to create new growth points [2] - The second "Must" is to combine policy support with reform and innovation, focusing on both existing and new challenges while implementing proactive fiscal and monetary policies [3] Group 2 - The third "Must" is to achieve a balance between allowing market freedom and effective government regulation, ensuring that both the market and government play their respective roles in economic development [4][5] - The fourth "Must" emphasizes the importance of combining investments in physical assets with investments in human capital, enhancing resource allocation towards education, employment, and social welfare to drive high-quality economic growth [7] - The fifth "Must" stresses the need for internal strengthening to face external challenges, highlighting the resilience of the Chinese economy despite global uncertainties [8][9]