Group 1 - The National Development and Reform Commission (NDRC) is focusing on implementing policies related to consumption, investment, industry, people's livelihood, reform and opening up, and green development for 2025 and 2026 [2] - The NDRC has released a notification regarding the "Two New" policies for 2026, which aims to support equipment updates and consumer goods replacement, optimizing the design and implementation to benefit more consumers and businesses [3] - A total of approximately 2.95 billion yuan has been allocated for early-stage construction projects in 2026, along with approvals for major infrastructure projects exceeding 400 billion yuan to support stable economic growth [3] Group 2 - The National Venture Capital Guidance Fund has been launched with an initial investment of 100 billion yuan, aiming to attract local and social capital to create an investment scale exceeding one trillion yuan, focusing on innovative and disruptive technologies [4] - The construction of a unified national market is recognized as both a challenge and a long-term effort, with significant progress made but still facing barriers such as local protectionism and market segmentation [5] - The NDRC plans to establish a list of obstacles to the construction of a unified national market and will work on policies to promote healthy investment attraction while addressing issues that hinder market unity [6] Group 3 - Recent policies have been introduced to foster new technologies and industries, including the low-altitude economy, with the NDRC issuing guidelines to clarify its scope and promote safe development [7] - The establishment of national-level zero-carbon parks is a key step towards systematic innovation in renewable energy and pollution control technologies, with the first batch of parks announced to lead low-carbon transformation [7] - The NDRC will support these parks through funding, green finance, and technical guidance to explore new models and pathways for decarbonization [7]

Core Insights - The National Development and Reform Work Conference was held in Beijing on December 12-13, emphasizing the importance of solidly implementing key development and reform tasks for the coming year [1] Group 1 - The conference highlighted the need to deeply understand the strategic intentions of the Central Committee and to adhere to local conditions in planning [1] - It called for improving the quality of planning and strengthening the review and connection of planning content [1] - The meeting stressed the importance of implementing the decisions and work requirements set forth in the suggestions from the 20th Central Committee's Fourth Plenary Session [1] Group 2 - There is a focus on enhancing economic monitoring, early warning analysis, and improving the policy toolbox [1] - The conference emphasized the need for effective expectation management and ensuring policy and work continuity for the next two years [1] - It aims to push for proactive policy implementation to achieve a good start [1]

Core Viewpoint - The provincial government is focusing on maintaining stable economic growth and enhancing development quality in the fourth quarter, emphasizing the implementation of the 14th Five-Year Plan and addressing key areas and industries to achieve the best possible outcomes [1][2]. Group 1: Economic Performance and Strategy - The overall economic operation of the province is stable, with continuous improvement in development quality and positive results in high-quality development during the first three quarters [1]. - The government aims to enhance policy coordination and effectiveness, ensuring that policy dividends translate into tangible development results [2]. Group 2: Industrial and Investment Focus - There is a strong emphasis on stabilizing production in key industries such as coal, oil, gas, and electricity, while expanding electricity export capacity and promoting industrial stability and efficiency [2]. - The government plans to accelerate key project construction and improve project management mechanisms to increase effective investment [2]. Group 3: Consumption and Employment Measures - Multiple measures will be taken to stabilize consumption, including promotional activities and enhancing the role of service sectors like culture, tourism, and modern logistics [2]. - The government is committed to ensuring employment for key groups such as college graduates, the impoverished population, and migrant workers, while managing risks in finance and government debt [2]. Group 4: Governance and Planning - The provincial government emphasizes a unified approach to growth responsibilities, enhancing supervision and collaboration among departments to address challenges and achieve set goals [2]. - There is a focus on scientifically preparing the province's 15th Five-Year Plan to better guide high-quality development in Shaanxi [2].