不变的是政策运行逻辑，淡化对短期目标的追求，长期目标重要性进一步上升。 二是以改革为代表的非经济政策的重要性上升。 政府工作报告明确提出"强化改革举措与宏观政策协 同"。面对推动高质量发展这一长期目标,报告强调"既要政策给力, 也要改革发力"、"要用改革的办法 打通经济循环的卡点堵点, 将政策效果转化为经济内生增长动能"。非经济政策看似与经济政策关联较 弱，但却能通过影响生产要素供给、营商环境、社会发展信心等途径，对经济运行产生影响。在实施更 加积极有为的宏观政策基础上，今年将增强政策的前瞻性、针对性、协同性，从而释放最大的政策效 能。 文：国金宏观宋雪涛/联系人张馨月 一、不变的是政策运行逻辑 过去两年来，政策的核心逻辑始终围绕平衡短期目标和长期目标展开。短期目标是稳增长，最直接的体 现是年度经济增长目标。长期目标是实现高质量发展，对应着经济结构的调整和改革举措的落地，通过 科技创新和市场化改革提高经济要素的配置效率，打开经济潜在增长空间。 从今年政府工作报告的定调看，2026年整体淡化了对短期目标的追求，但长期目标的重要性进一步提 升。 一是设定经济增长区间目标。 今年政府工作报告明确2026年经济增长目 ...

2026全国两会 总 TS 12 3 16 特别报道 两会新华社权威速览 2026年政府工作 纵深推进全国统一大市场建设 推进财税金融体制改革 充分激发各类经营主体活力 F 进一步扩大高水平对外开放 积极扩大自主开放 推动外贸稳规模优结构 扩大双向投资合作 高质量共建"一带一路" 大 扎实推进乡村全面振兴 毫不放松抓好粮食生产 实施常态化精准帮扶 娃娃娃花女村女弟女母 IV 不JEKL WIJ K 七 推动新型城镇化 和区域协调发展 深入推进以人为本的新型城镇化 不断增强区域发展协调性 更大力度保障和改善民生 促进高质量充分就业 推动教育公平与质量提升 强化基本医疗卫生服务 加强社会保障和服务 更好满足人民群众精神文化需求 着力建设强大国内市场 深入实施提振消费专项行动 充分挖掘释放有效投资潜力 2026年政府工作报告 加紧培育壮大新动能 优化提升传统产业 培育壮大新兴产业和未来产业 扩能提质服务业 打造智能经济新形态 l | 加快高水平科技自立自强 加强原始创新和关键核心技术攻关 推动科技创新和产业创新深度融合 体推进教育科技人才发展 DU 持续深化重点领域改革 责编：李丹 校对： 杨立林 版权声明 证券时 ...

健全地方税体系，拓展地方税源。调整优化消费税征税范围、税率，并推进部分品目征收环节后移。规范金融机构竞争秩序，深入推进地方中小金 融机构减量提质。 持续深化资本市场投融资综合改革，进一步健全中长期资金入市机制，完善投资者保护制度，拓展私募股权和创投基金退出渠道，提高直接融资、 股权融资比重。 国务院总理李强5日在政府工作报告中介绍今年政府工作任务时提出，持续深化重点领域改革。 围绕构建高水平社会主义市场经济体制，强化改革攻坚，深入破除体制机制障碍，增强高质量发展动力活力。推进财税金融体制改革。 加大财政资源和预算统筹力度，提高国有资本收益收取比例。加强财政科学管理，深化零基预算改革，进一步扩大中央部门试点范围。 ...

Core Viewpoint - The government work report emphasizes the need for macroeconomic regulation and innovation to promote economic recovery, highlighting effective fiscal and monetary policies, support for key sectors, and measures to stabilize the real estate market and capital markets [1][2]. Group 1: Monetary Policy - The report advocates for a moderately loose monetary policy, utilizing both total and structural monetary policy tools to ensure liquidity and match social financing growth with economic growth and price expectations [4]. - It emphasizes the importance of optimizing and innovating structural monetary policy tools to support the healthy development of the real estate and stock markets, as well as to enhance support for technology innovation, green development, and small and micro enterprises [4]. Group 2: Fiscal and Financial Coordination - The report calls for active expansion of effective investment, aligning government investment tools with national development strategies and public needs, and accelerating the implementation of key projects [6]. - It proposes a central budget investment of 7.35 trillion yuan for the year, with a focus on effective project selection and fund management to prevent inefficient investments [6]. Group 3: Policy Financial Support - The report highlights the need to strengthen policy financial support, accelerate the development of venture capital, and enhance patient capital [8]. Group 4: Financial System Reform - The report outlines plans for zero-based budgeting reforms at the central level and encourages local governments to deepen similar reforms, aiming to innovate in expenditure standards and performance evaluations [10]. - It emphasizes the need to improve the financial standards and systems for technology, green finance, inclusive finance, and digital finance [11]. Group 5: Capital Injection for State-Owned Banks - The report mentions plans to issue special government bonds worth 500 billion yuan to support capital replenishment for large state-owned commercial banks [13]. Group 6: Foreign Trade Financial Services - The report stresses the importance of stabilizing foreign trade development, enhancing financial services related to financing, settlement, and foreign exchange, and expanding export credit insurance coverage [15]. Group 7: Risk Prevention in Finance - The report emphasizes the need to effectively prevent and resolve key financial risks, ensuring that systemic risks do not occur, particularly in the real estate sector [17]. - It advocates for a market-oriented approach to address risks in local small and medium financial institutions, including capital replenishment and market exit strategies [18].