其中，在做好重点领域风险化解方面，会议提出，不断守牢安全发展底线。因城施策控增量、去库 存、优供给，加快构建房地产发展新模式。用好用足各类支持政策，积极有序化解债务风险。加大财力 下沉力度，确保"三保"不出问题。"一企一策"推进中小金融机构风险处置。多措并举稳定能源价格，确保 用能安全。（来源：中房网） 【购房资讯轻松享，快来关注乐居网】 文章来源:中房网 12月23日，四川省委经济工作会议在成都举行。会议确定明年四川经济工作将抓好六项重点任务。 一是，千方百计扩大有效需求，不断拓展内需增长新空间；二是，加力加劲推动科技创新和产业创 新融合发展，不断催生新质生产力； 三是，坚定不移深化改革扩大开放，不断增强高质量发展动力活力；四是，持续用力推进协调发 展，不断深化城乡融合和区域联动； 五是，用心用情保障和改善民生，不断提高人民生活品质；六是，积极稳妥做好重点领域风险化 解，不断守牢安全发展底线。 ...

新华社北京12月21日电（记者张千千）中小金融机构是金融业的重要组成部分，是稳定宏观经济、 服务民营小微、助力乡村振兴的重要力量。中央经济工作会议提出"深入推进中小金融机构减量提质"， 为明年经济金融工作布置明确任务。 近年来，我国加快推进中小金融机构改革转型，健全公司治理，提升可持续发展能力。农信社改革 蹄疾步稳，过半省份组建省级法人机构；城商行改革重组有序实施，股份制银行高质量发展扎实推进； 保险、资管等机构加快回归本源，功能定位不断增强。 "明年是'十五五'开局之年，实现良好开局意味着要推动经济实现质的有效提升和量的合理增长， 这对金融服务提出更高要求。"娄飞鹏表示，中小金融机构减量提质，一方面要继续完善内部治理，提 升风险管理能力；另一方面要推动扎根当地开展特色化经营，更好服务实体经济。 金融监管总局表示，下一步，将坚定履行风险防控首位主责，着力化解存量风险，坚决遏制增量风 险，严守不"爆雷"底线。巩固拓展改革化险成果，深入推进中小金融机构减量提质。 【纠错】 【责任编辑:王雪】 防控风险是金融工作的永恒主题，稳妥处置中小金融机构风险是重中之重。近年来，我国重点地 区"一省一策"形成中小金融机构改革化 ...

中央经济工作会议12月10日至11日在北京举行，会议总结2025年经济工作，分析当前经济形势，部署 2026年经济工作。 如何看待当前中国经济形势？明年继续实施更加积极的财政政策和适度宽松的货币政策，释放出怎样的 信号？八项重点任务蕴含怎样的发展新机遇？对此，中国基金报采访了招商基金研究部首席经济学家李 湛、创金合信基金首席经济学家魏凤春、金鹰基金首席经济学家兼权益研究部基金经理杨刚、华夏基金 首席策略分析师轩伟、富国基金首席策略分析师马全胜、博时基金首席权益策略分析师陈显顺和财通基 金首席策略师王磊。 释放多重积极信号 为稳定经济大盘提供支撑 中国基金报：中央经济工作会议释放出哪些积极信号？你比较关注哪些内容？ 李湛：会议释放了三大积极信号：一是政策延续性强，明确"更加积极的财政政策+适度宽松的货币政 策"，稳预期效果显著；二是聚焦高质量发展，"稳中求进、提质增效"凸显质效优先，适配"十五五"开 局需求；三是精准发力重点领域，重申内需主导、新质生产力培育与风险防控。重点关注"存量政策和 增量政策集成效应"及政策"协同性"，前者可挖掘沉淀资源、提升传导效率，后者能避免政策单打独 斗，为稳定经济大盘提供支撑。 ...

12月10日至11日，中央经济工作会议在北京举行。会议指出，明年经济工作在政策取向上，要坚持稳中 求进、提质增效，发挥存量政策和增量政策集成效应，加大逆周期和跨周期调节力度，提升宏观经济治 理效能。专家认为，在经济发展具体路径上，会议也明确了"做优增量、盘活存量"的核心思路。国务院 参事、中国社科院工经所研究员杜莹芬介绍：从过去注重"有没有、多不多"的规模扩张，转向追求"好 不好、优不优"的质量提升和效率革命。比如说在房地产领域，鼓励收购存量商品房用于保障房、深化 住房公积金制度改革、有效推动"好房子"建设，加快构建房地产发展新模式。在金融领域，对应的主要 是比如说中小金融机构减量提质。做优增量、盘活存量，这是贯穿各领域的工作主线。（央视财经） ...

Economic Situation - The economic situation is characterized by persistent challenges, but the overall tone is becoming more positive. The external environment is expected to stabilize marginally, while domestic supply-demand imbalances are highlighted as a significant issue [2][10]. - The meeting emphasizes the need to address "development and transformation" issues, indicating that many challenges can be resolved through concerted efforts [10]. Five Musts - The meeting outlines "Five Musts" to enhance economic potential, focusing on internal capacity building to respond to external challenges and the importance of policy support alongside reform innovation [2][18]. - Key strategies include ensuring effective market regulation while promoting investment in both physical and human capital [19]. 2025 Growth Target - The growth target for 2026 is set at approximately 5% for both nominal and real GDP, reflecting a pragmatic approach to align with long-term goals and current economic conditions [3][21]. - The transition of growth drivers is expected, with the "three new economies" projected to surpass the real estate sector historically [21]. Macroeconomic Policy - The macroeconomic policy framework is shifting from "promoting stability through growth" to "enhancing quality and efficiency," indicating a focus on structural optimization rather than mere expansion [4][26]. - Fiscal policy is expected to maintain a deficit rate around 4%, with a focus on improving the efficiency of spending rather than just increasing the scale [30][31]. - Monetary policy will remain moderately accommodative, with expectations for potential rate cuts and targeted support for key sectors [36][40]. Key Tasks - The emphasis on domestic demand is paramount, with strategies to boost consumption and stabilize investment growth projected at 2-3% for 2026 [5][46]. - Innovation-driven growth is prioritized, with plans to strengthen the integration of education, technology, and talent development [6][50]. - Reforms will focus on eliminating barriers to development, enhancing market dynamics, and improving the business environment [7][57]. Real Estate Market - The policy focus is shifting towards stabilizing the real estate market, moving from demand stimulation to a balanced supply-demand approach [8][63].

新华社消息，中央经济工作会议12月10日至11日在北京举行。 会议指出，明年经济工作在政策取向上，要坚持稳中求进、提质增效，发挥存量政策和增量政策集成效 应，加大逆周期和跨周期调节力度，提升宏观经济治理效能。要继续实施更加积极的财政政策。保持必 要的财政赤字、债务总规模和支出总量，加强财政科学管理，优化财政支出结构，规范税收优惠、财政 补贴政策。要优化地方政府专项债券用途管理，继续发挥新型政策性金融工具作用，有效激发民间投资 活力。高质量推进城市更新。坚持创新驱动，加紧培育壮大新动能。深化拓展"人工智能+"，完善人工 智能治理，创新科技金融服务。深入推进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。 责任编辑：山上 关键词阅读：逆周期 投资 ...

宏 观 研 究 2025 年 12 月 12 日 存量挖潜，宽松深入——中央经济工作会议点评 团队成员 投资要点： 宏 观 点 评 12 月 10 日至 11 日，中央经济工作会议在北京举行。我们认为，政策 层面对经济运行中的挑战有明确认识，明年经济工作重点将是优化供 给，存量挖潜，财政货币双扩张，实现更大政策效能促进增长和物价 回升，政策评估兼顾存量和增量确保协同，增加居民收入扩大消费， 中央财政扩张维稳投资，以提质优化为主线促进产业健康发展，以绿 色基建促进能源转型和效益改善，防风险指引更加清晰明确。 直面挑战，顶压前行 政策层面能够直面经济运行中的挑战，对风险和机遇建立清晰认 识并着力解决。在经济转型高质量发展的过渡期，对于供给端的改革、 调整的诉求上升，建立清晰认识，在发展实践中应对挑战。 优化供给，存量挖潜 供给匹配需求，存量挖掘增量。新一轮"供给侧改革"或将注重开 发利用现有基建和产能，提升生产效率，释放潜在增长空间，这也是"必 须充分挖掘经济潜能"的指向。 积极财政发挥更大效能 总量保持强度，结构注重节流，积极财政政策要发挥更大效能。 明年财政政策强度可能更高，更重要的是结构新变化，更好统筹利用 ...

Group 1 - The core viewpoint of the article emphasizes the new macroeconomic policy framework established during the Central Economic Work Conference, which includes five new "musts" aimed at enhancing economic potential, balancing policy support with structural reforms, and focusing on both material and human capital investments [1][9][10] - The first "must" is to fully tap into economic potential to address insufficient effective demand and release domestic demand space [1][9] - The second "must" stresses the importance of combining policy support with reform and innovation to stimulate factor vitality [1][9] - The third "must" highlights the need to invigorate market vitality while improving regulatory frameworks [1][9] - The fourth "must" calls for a close integration of investments in physical assets and human capital, emphasizing the need for increased investment in education, healthcare, and social security [1][9] - The fifth "must" focuses on strengthening internal capabilities to respond to external challenges, including expanding domestic demand and ensuring industrial chain security [1][9] Group 2 - The article discusses the need to "promote investment stabilization," as the decline in fixed asset investment growth has contributed to insufficient domestic demand, with a reported year-on-year decrease of 1.7% in fixed asset investment for the first ten months of the year [2][10] - Policies aimed at stabilizing investment include maintaining necessary fiscal deficits, increasing central budget investment, optimizing project implementation, and enhancing the role of new policy financial tools [2][10] - The article notes that the focus on investment recovery in major economic provinces will be a key point of attention for 2026 [2][10] Group 3 - The article emphasizes that monetary policy will prioritize stabilizing economic growth and ensuring reasonable price recovery, with a focus on the rebound slope of the deflation index as an important observation line [3][12] - Specific measures include the flexible and efficient use of various policy tools such as interest rate cuts and reserve requirement ratio reductions, indicating that these remain options for policy implementation [3][12] - The article highlights the need for financial institutions to support the expansion of domestic demand, technological innovation, and small and medium-sized enterprises [3][12] Group 4 - The article outlines the plan to "formulate and implement a plan for increasing urban and rural residents' income," indicating that this will begin in the coming year and is a key strategy for promoting consumption [4][13] - The focus on enhancing the income of low-income groups and promoting win-win development for platform enterprises and their operators is emphasized [4][13] - The article also mentions the importance of optimizing the implementation of "two new" policies, which may involve adjusting subsidy structures and methods [4][13] Group 5 - The article discusses the need to "stabilize the real estate market," as fluctuations in real estate sales, investment, and prices are constraints on economic growth [5][14] - Policies will focus on risk resolution in key areas, with an emphasis on sales rather than investment, and will include measures to control inventory and optimize supply [5][14] - The article notes that the reform of the housing provident fund system and the promotion of "good housing" construction will be part of the strategy [5][14] Group 6 - The article highlights the importance of "accelerating the clearance of overdue corporate accounts," as this can help restore the credit system and benefit industries with high accounts receivable ratios [6][15] - The focus on clearing overdue accounts is part of a broader strategy to enhance high-quality development and address issues related to corporate cash flow [6][15] Group 7 - The article mentions the need to "deeply rectify involutionary competition," indicating that measures to standardize competition will continue to be a significant macroeconomic focus [7][16] - The establishment of a national unified market construction regulation is seen as a long-term institutionalization of the anti-involution strategy [7][16] Group 8 - The article discusses the formulation of a "strong energy nation construction plan," emphasizing the importance of the new energy sector as a competitive advantage for the country [8][18] - Key areas of focus include building a new power system, promoting coal power upgrades, and expanding the carbon emissions trading market [8][18] Group 9 - The article addresses the need to "improve the local tax system," which is part of the long-term goals outlined in the 14th Five-Year Plan [9][19] - The emphasis on accelerating reforms related to consumption tax is expected to create incentives for local tax source cultivation [9][19] Group 10 - The article highlights the need to "advance the reduction and quality improvement of small and medium-sized financial institutions," indicating that restructuring and local specialization will be prioritized [10][20] - The focus on risk resolution and transformation of local financial institutions is part of a broader strategy to enhance the financial system's stability [10][20]

专题：中央经济工作会议在北京举行 专题：中央经济工作会议在北京举行 中央经济工作会议12月10日至11日在北京举行。会议确定，明年经济工作抓好以下重点任务。坚持改革 攻坚，增强高质量发展动力活力。制定全国统一大市场建设条例，深入整治"内卷式"竞争。制定和实施 进一步深化国资国企改革方案，完善民营经济促进法配套法规政策。加紧清理拖欠企业账款。推动平台 企业和平台内经营者、劳动者共赢发展。拓展要素市场化改革试点。健全地方税体系。深入推进中小金 融机构减量提质，持续深化资本市场投融资综合改革。 责任编辑：石秀珍 SF183 中央经济工作会议12月10日至11日在北京举行。会议确定，明年经济工作抓好以下重点任务。坚持改革 攻坚，增强高质量发展动力活力。制定全国统一大市场建设条例，深入整治"内卷式"竞争。制定和实施 进一步深化国资国企改革方案，完善民营经济促进法配套法规政策。加紧清理拖欠企业账款。推动平台 企业和平台内经营者、劳动者共赢发展。拓展要素市场化改革试点。健全地方税体系。深入推进中小金 融机构减量提质，持续深化资本市场投融资综合改革。 责任编辑：石秀珍 SF183 ...

防范化解重点领域风险方面，提到积极稳妥化解地方政府债务风险，深化地方融资平台改革转型，一体 推进地方中小金融机构风险处置和转型发展，加快房地产市场存量风险出清。 12月8日，河南省发布《中共河南省委关于制定河南省国民经济和社会发展第十五个五年规划的建 议》。 其中提出，推动房地产高质量发展。加快构建房地产发展新模式，完善商品房开发、融资、销售等基础 制度。优化保障性住房供给，满足城镇工薪群体和各类困难家庭基本住房需求。因城施策增加改善性住 房供给。建设安全舒适绿色智慧的"好房子"，实施房屋品质提升工程和物业服务质量提升行动。建立房 屋全生命周期安全管理制度。 一体推进地方中小金融机构风险处置和转型发展，加快房地产市场存量风险出清。 ...