转自：人民日报客户端 设备更新改造方面，一些企业反映因为自有资金短缺、项目投资额达不到申报门槛等原因，没有享受到 政策红利。对此，2026年相关工作也将作出针对性优化，以支持更多企业开展设备更新，扩大政策惠及 面。一是优化范围。在总体延续2025年支持范围的基础上，主要增加3方面更新补贴：民生领域，增加 老旧小区加装电梯、养老机构设备更新；安全领域，增加消防救援、检验检测设备更新；消费基础设施 方面，增加商业综合体、购物中心、百货店、大型超市等线下消费商业设施的设备更新。二是进一步优 化项目申报机制和审核流程，大幅降低投资额门槛。22个领域中，大部分已没有门槛，只在少部分领域 为确保项目质量、提高资金使用效益，设置了较低门槛。三是强化监管。通过线上、线下等多种方式， 加强对设备更新项目的全链条监管，切实解决企业诉求、提高资金使用效益。 原标题：国家发展改革委解读当前经济热点—— 优化实施"两新"政策"两重"项目（经济新方位） 2026年，如何优化实施"两新"政策？如何以更大力度稳投资？如何纵深推进全国统一大市场建设？国家 发展改革委近日召开新闻发布会，针对当前经济工作部分热点问题，国家发展改革委政策研究室副主 ...

Core Viewpoint - The overall economic growth in May remains stable, but the structure shows signs of divergence, with retail growth accelerating due to external factors, while fixed asset investment and real estate sales continue to weaken [1][8]. Macro - External factors support retail growth, with tariff reductions not fully reflected in May data, leading to a slight decline in industrial value-added growth to 5.8% year-on-year [2][8]. - May's industrial value-added growth slowed to 5.8% from 6.1% in April, with manufacturing and high-tech manufacturing also experiencing declines [2]. - Retail sales in May increased by 6.4% year-on-year, the highest growth rate in 2024, driven by trade-in policies and early promotions [3][8]. - Fixed asset investment growth slowed to 3.7% in the first five months, with declines in manufacturing, infrastructure, and real estate investments [4][5]. - Real estate sales continue to weaken, with a 3.3% year-on-year decline in sales area and a 6.0% decline in sales value in May [6][24]. Strategy - The economic data for May indicates a need for further policy support to stimulate demand, with a focus on stable recovery in the second half of the year [8][20]. - Investment strategies should focus on sectors with strong dividend yields and growth potential, particularly in mergers and acquisitions, artificial intelligence, and consumer sectors [8]. Real Estate - The real estate market shows continued weakness, with new housing sales declining and investment pressures persisting [24][25]. - The government is expected to enhance policy measures to stabilize the real estate market and stimulate demand [24][25].

Economic Performance Overview - In Q1 2025, China's GDP grew by 5.4% year-on-year, with production, consumption, and investment data exceeding market expectations [1] - The industrial added value for large-scale enterprises increased by 6.5% year-on-year, accelerating by 0.7 percentage points compared to the previous year [1] - Social retail sales rose by 4.6% year-on-year in Q1, with a notable increase of 5.9% in March [1] - Fixed asset investment grew by 4.2% year-on-year in Q1, with manufacturing investment up by 9.1% and infrastructure investment up by 11.5% [1] Export and Domestic Demand - Q1 exports remained resilient, with net export levels reaching new highs, supported by a "rush to export" factor [2] - The positive economic performance in Q1 was attributed to the release of domestic demand and the effects of previous policy measures [2] - The "old-for-new" consumption policy launched in early 2025 allocated 300 billion yuan to support consumer goods replacement, significantly up from 150 billion yuan in 2024 [2] Manufacturing and Investment Trends - Manufacturing investment saw a cumulative year-on-year growth of 9.1% in March, supported by equipment upgrading policies [3] - High-tech industry investments grew by 6.5%, with significant increases in information services, aerospace manufacturing, and computer equipment sectors [3] - Local government debt resolution efforts have positively impacted economic growth, particularly in major economic provinces [3] Overall Economic Outlook - Despite external uncertainties, China's large economic scale and domestic market provide significant resilience and flexibility [4] - The effectiveness of previous growth stabilization policies has contributed to a strong economic performance in Q1 2025 [4] - The focus on domestic stability in response to international uncertainties is seen as a unique advantage for China's economic growth [4]