Core Insights - The Chinese economy demonstrated strong resilience and vitality in 2025, achieving major expected targets and laying a solid foundation for economic development in 2026 [1] - Positive changes were observed in production, prices, and expectations, indicating a steady economic improvement [1] Economic Performance - In December 2025, the industrial added value and service production index for large-scale enterprises both accelerated compared to the previous month [1] - The Consumer Price Index (CPI) rose by 0.8%, marking the highest increase since March 2023, while the core CPI maintained an increase of over 1% for four consecutive months [1] - The Producer Price Index (PPI) saw a narrowing year-on-year decline, with a month-on-month increase for three consecutive months [1] - Both the manufacturing PMI and non-manufacturing business activity index returned to the expansion zone [1] Policy Support - The State Council's executive meeting deployed a package of policies to promote domestic demand through fiscal and financial collaboration, with relevant departments accelerating implementation [1] - The "Two New" policies are continuously optimized, with initial funds being allocated ahead of schedule, creating favorable conditions for the economic start in 2026 [1] Long-term Outlook - A comprehensive, dialectical, and long-term perspective is necessary to understand the Chinese economy, focusing on both current conditions and long-term trends [2] - The fundamental conditions and basic trends supporting long-term economic growth remain unchanged, with a strong emphasis on high-quality economic development [2]

从2026年全年看，我国经济长期向好的支撑条件和基本趋势没有改变，高质量发展的大势没有改变，有 基础、有条件保持经济稳定向好运行。 人民财讯1月19日电，1月19日，国家统计局局长康义在国新办新闻发布会上表示，从开年以来，生产价 格预期都出现了积极变化，经济稳中有进的态势在持续。2025年12月份，规模以上服务业增加值、服务 业生产指数同比增速均比上月有所加快；核心CPI涨幅也连续4个月保持在1%以上，PPI同比降幅收窄， 环比连续三个月回升；制造业PMI和非制造业商务活动指数双双重回扩张区间。从政策支撑看，国常会 部署实施财政金融协同的一揽子政策。扩大内需，"两新"政策也在不断优化，这些都为今年经济的起步 创造了有利条件。 ...