东方财富证券研究所 证券分析师：王笑笑 证书编号：S1160525020006 证券分析师：杨雅婷 证书编号：S1160525100004 宏观专题 地方两会系列（二）——重点工作如何 部署？ 2026 年 02 月 26 日 【宏观观点】 【风险提示】 挖掘价值 投资成长 联系人：李沅芷 相关研究 《地方两会系列（一）——经济增长目标》 2026.02.13 《纵深推进全国统一大市场建设的方向、 举措、效果推演——挖掘经济潜能系列一》 2026.01.25 《2026 年经济会有开门红吗》 2026.01.05 《延续稳中有进发展态势——11 月经济 数据解读》 2025.12.30 《特&马"将相和"，马斯克链王者归来》 2026.02.02 宏 截至 2026 年 2 月 5 日，地方两会已全部召开完毕，综合来看各地具 体部署，以下几个方面值得关注： 地方重点工作：一是供需协同发力，投资和消费结合；二是融通教育、 科创、人才与产业四链，加速科技在产业层面的落地应用；三是区域 协调发展和全国统一大市场建设。 投资：一是依托重点产业和重大项目进行投资布局，数字基建、人工 智能、量子科技、低空经济等是重点领域 ...

Economic Growth - Various provinces are setting GDP growth targets around 5% annually during the 14th Five-Year Plan, with Guangdong and Jiangsu leading in high-quality development [1][2] - Shandong aims to become the first northern province with a GDP exceeding 10 trillion yuan by 2025, while Guizhou and Chongqing also set ambitious growth targets [1] New Economic Drivers - Provinces are focusing on cultivating new productive forces and economic growth points, with Jiangsu emphasizing the development of advanced manufacturing clusters and Hubei promoting a dual-driven growth model [2] - Shaanxi targets an annual industrial value-added growth of 6.5% and aims for the digital economy's core industries to account for 9.5% of its economy [2] Income Growth - The goal of common prosperity is emphasized, with provinces like Zhejiang aiming for a per capita disposable income of around 90,000 yuan and a significant urbanization rate [3] - Tianjin and Shaanxi are implementing plans to boost employment and income, focusing on service sector expansion and new job creation [3] Reducing Burdens - Provinces are also working to alleviate financial pressures on citizens, with Hainan and Gansu focusing on investing resources in public welfare and improving social security systems [4] - The emphasis is on reducing daily burdens for citizens while enhancing their quality of life [4] Consumption Promotion - There is a strong focus on boosting consumption, with provinces like Tianjin and Guangxi promoting "emotional consumption" and "scenario-based consumption" [5] - Hunan highlights a shift in consumer behavior towards emotional and meaningful purchases, indicating a transformation in consumption patterns [5][6]

2026年是"十五五"开局之年，也是张家港撤县建市40周年。张家港将聚焦产业优化升级，改造提升 传统产业，培育壮大新兴产业，加速布局未来产业，提质扩容服务业，巩固实体经济根基；聚焦科技创 新赋能，强化科创平台建设，壮大创新企业梯队，加大人才引育力度，优化创新创业生态，加快转型发 展步伐；聚焦内需潜力释放，激发消费活力，扩大有效投资，畅通经济循环动脉；聚焦深化改革开放， 打造开放协作高地，提升港口发展能级，深化重点领域改革，营造一流营商环境，增强发展动力活力； 聚焦城市有机更新，提高城建水平，强化精细管理，守护美丽港城，提升宜居功能品质；聚焦乡村全面 振兴，发展现代农业，打造和美乡村，促进村强民富，提高强农惠农实效；聚焦民生补短提质，擦亮文 明底色，加强社会保障，优化公共服务，回应市民群众期盼；聚焦社会稳定大局，抓牢抓实安全生产， 全面加强社会治理，防范化解风险隐患，筑牢安全发展屏障。 昨天（2月10日），张家港市十五届人大五次会议开幕。过去一年，张家港与时俱进大力弘扬发展 张家港精神，综合实力连续32年保持全国同类城市前三，荣膺全国县域唯一的全国文明城市"七连冠"、 全省县域唯一的全国双拥模范城"八连冠"及国 ...

Core Viewpoint - The Jinan Shizhong District is focusing on "second entrepreneurship" and aims for high-quality development, leveraging strategic opportunities from national initiatives and local planning to enhance its industrial structure and economic growth [3][4]. Group 1: Industrial Restructuring and Development - The district is implementing industrial restructuring to enhance new productive forces, emphasizing the integration of technological and industrial innovation [4]. - Goals include establishing a digital economy and energy interconnection industry, targeting an industry scale of 160 billion yuan for the digital sector and 380 billion yuan for the energy sector [5]. - The district aims to create a competitive "3+2" emerging industry cluster, focusing on intelligent economy, new energy equipment, and low-altitude economy [5]. Group 2: Project Support and Economic Growth - The district is prioritizing high-quality projects to support economic development, with a target GDP growth of around 5% and industrial value-added growth of 8% for the year [6]. - Plans include the introduction of over 320 projects, with more than 200 being industrial projects, and a focus on optimizing project planning and investment structure [7]. Group 3: Urban Renewal and Development - Urban renewal is a key focus, with initiatives aimed at enhancing urban vitality and quality through organic updates and infrastructure improvements [8][9]. - The district is implementing a comprehensive urban development strategy, including a focus on innovation-driven areas and ecological zones [8]. Group 4: Enhancing Public Welfare - The district is committed to improving public services and social security systems, aiming to create 17,500 new jobs and increase housing supply [10]. - Educational and healthcare services are being expanded, with new schools and healthcare facilities planned to meet community needs [10]. Group 5: Cultural Development - The district is promoting cultural initiatives alongside economic development, focusing on local cultural resources and enhancing public cultural services [11].

Group 1: Economic Development and Employment - Guangdong aims to invest more in human resources, emphasizing that the greatest investment potential lies in people, with over 7 million new urban jobs created during the 14th Five-Year Plan period [1] - The province plans to implement a series of measures to enhance social welfare, including expanding employment support for key groups such as college graduates and veterans [1][2] - By 2025, Guangdong's foreign trade is projected to reach 9.49 trillion yuan, with a growth rate of 4.4%, maintaining its position as the largest in the country for 40 consecutive years [7][8] Group 2: Education and Health - Guangdong will improve the allocation of educational resources to adapt to population changes, expand inclusive preschool education, and enhance the quality of compulsory education [2] - The province is committed to strengthening healthcare infrastructure and expanding access to quality medical resources, while also addressing aging and declining birth rates [2] Group 3: Industrial Development - Guangdong is focusing on high-quality development in manufacturing, with over 76,000 industrial enterprises and an expected revenue exceeding 19 trillion yuan, contributing approximately 50% to GDP growth [2][3] - The province plans to support traditional, emerging, and future industries, with a focus on sectors like new energy, smart vehicles, and biotechnology, aiming to create significant industrial clusters [3][4] Group 4: Technological Innovation - Guangdong is enhancing cross-border collaboration in technology innovation, with over 6 billion yuan in research funding allocated to Hong Kong and Macau, and the establishment of high-level innovation platforms [4][5] - The province aims to build a globally competitive open innovation ecosystem, fostering collaboration in education and technology talent development with Hong Kong and Macau [5] Group 5: Agricultural Development - Guangdong has completed a comprehensive survey of agricultural genetic resources, collecting 368,000 samples, and is focusing on the revitalization of seed industries to support local economic development [6][7] - The province has achieved significant breakthroughs in key agricultural technologies, including the development of new rice varieties and advancements in aquaculture breeding [6] Group 6: Foreign Trade and Market Expansion - Guangdong is actively promoting high-quality foreign trade development, with plans to organize over 300 overseas exhibitions to help more than 26,000 companies explore international markets [8][9] - The province is also focusing on expanding imports and fostering new trade dynamics, with initiatives to strengthen major import bases and support small and medium-sized foreign trade enterprises in digital transformation [8][9]

地方两会时间开启 谋划2026年稳增长"施工图" 经济参考报记者汪子旭、叶健 强化科技创新支撑引领、构建现代化产业体系也在各地2026年重点工作中居于重要位置。其中，多地重 点提及"科技成果应用转化"。 广东着眼打造具有全球影响力的产业科技创新中心，提出要大力推进新技术、新产品、新业态、新模式 的创新应用，完善首台套首批次首版次应用支持政策。北京强调加快重大科技成果高效转化应用，提升 概念验证、中试孵化等平台服务能力。 值得注意的是，多地重点提及了加快推动人工智能推广应用。浙江省今年的政府工作报告不仅提及"阿 里千问、DeepSeek等通用模型性能全球领先"，还提出推动人工智能创新发展，特别是推动场景资源开 放和大规模应用，并明确人工智能核心产业营收增长20%以上。数据显示，2025年浙江省人工智能核心 产业营收6800亿元左右，按此目标计算，2026年将有望超8000亿元。广东也强调加快推进人工智能全域 全时全行业高水平应用，在芯片、算力、算法、数据、应用等领域固本强基、培优增效，加快做强产业 全链条。 "如今，芯片、操作系统、数据库、基础大模型等核心技术，日益成为未来竞争的决定性因素。在研发 投入强度上实 ...

新华社北京1月27日电 《经济参考报》1月27日刊发记者汪子旭、叶健采写的文章《地方两会观察丨地 方两会时间开启 敲定2026年稳增长"施工图"》。文章称，近日，浙江、北京、广东等地陆续召开地方 两会，于"十五五"开局的关键节点，谋划未来五年发展蓝图和2026年全年重点目标任务。翻看今年各地 政策着力点，强化科技创新支撑引领、构建现代化产业体系、挖掘有效需求潜力居于重要位置，"服务 消费潜力""科技成果转化应用""新兴支柱产业"等成为各地政府工作报告中的高频词。 敲定经济增长预期目标是地方两会的一项重要内容。目前，浙江、北京、河南、天津、广东、河北等地 两会已陆续召开，并公布了2026年经济增长预期目标。其中，天津的目标是4.5%，广东为4.5%至5%， 北京、河南均为5%左右，河北为5%以上，浙江为5%至5.5%。 在设定经济增长目标的同时，各地也明确了2026年一系列重点任务。中央经济工作会议将"坚持内需主 导，建设强大国内市场"放在2026年重点经济工作之首。对此，各地纷纷提出具体政策举措。 其中，着力推动消费转型升级、释放服务消费潜力、培育消费新增长点成为重要发力方向。北京明确将 加大对教育、健康、养 ...

习近平总书记指出，"十五五"时期，必须把因地制宜发展新质生产力摆在更加突出的战略位置。四川省 成都市聚焦加快建设全国重要的科技创新中心、国家战略科技力量重要承载地，强化城市创新策源能 力，加速科技成果转化，推动科技产业深度融合，加快发展新质生产力。成都市纪委监委深刻把握发展 新质生产力的政治考量，强化政治监督，做实日常监督，为因地制宜发展新质生产力提供坚强保障。 协同监督促落实。新质生产力培育涉及多部门、贯穿全链条，必须增强全局观念、发挥系统优势，融合 各类监督力量，在协调联动上做文章、在提质增效上出实招。全市各级纪检监察机关强化协同意识，通 过"室组地"联动、"纪巡审"协作等模式，发挥属地纪委和派驻机构"近距离"优势，贯通巡察监督、审计 监督力量，组建联合督查组，前移关口、联动协调，加强对跨区域、跨部门的重点新兴产业和重大科技 项目的协同监督，推动解决生产要素流动、创新成果转化、科技金融等方面问题。针对四川省重大科技 基础设施磁浮飞行风洞项目建设阻滞问题，与驻市发改委纪检监察组、驻市经信局纪检监察组、四川天 府新区纪检监察工委等联合发力，督促主责部门协同化解难题，促进用地保障和电力建设等配套措施合 规落地。 ...

Group 1: Industrial and Technological Development - The Ministry of Industry and Information Technology (MIIT) will implement the "Implementation Opinions on Promoting Future Industrial Innovation Development" and has initiated the second phase of 6G technology testing, focusing on breakthroughs in training chips and heterogeneous computing power [1][20] - MIIT aims to cultivate emerging pillar industries and will create national demonstration bases for the development of emerging industries, enhancing government investment fund efforts [5][6] - The ministry will promote smart manufacturing by implementing intelligent manufacturing projects and nurturing smart factories [7][8] Group 2: Consumer and Market Trends - MIIT will optimize product supply in line with consumption upgrade trends, enhancing the development ecosystem for Chinese consumer brands and promoting intelligent, green, and integrated development in consumer goods [9][10] - The ministry plans to develop key energy-saving and environmental protection equipment and solutions, facilitating the transition from demonstration applications to large-scale popularization of advanced technologies [13][14] Group 3: AI and Manufacturing Integration - MIIT will focus on technological innovation in AI and manufacturing, accelerating breakthroughs in critical technologies such as training chips and heterogeneous computing power, and fostering the development of application service providers [11][12] - The ministry will enhance ecological construction by establishing industry standards and ensuring algorithm security and data protection [12] Group 4: Support for SMEs - MIIT will formulate a development plan for small and medium-sized enterprises (SMEs) and implement measures to clear overdue payments to protect the rights of SMEs [17] Group 5: Digital Services and Robotics - MIIT will advance the "Ten Practical Matters for Warm Digital Services," enhancing digital service supply for vulnerable groups and expanding coverage of services [22] - The ministry will continue to promote innovation and upgrades in humanoid robot technology, driving the development of the embodied intelligence industry [25]

Core Viewpoint - The National Development and Reform Commission (NDRC) emphasizes the importance of macroeconomic policies aimed at strengthening domestic circulation and expanding domestic demand, while also focusing on the development of the real economy and the construction of a unified national market [1][2][5]. Group 1: Macroeconomic Policies - The NDRC plans to formulate a strategic implementation plan for expanding domestic demand from 2026 to 2030, aligning with the trends of demand upgrades and technological revolutions [1]. - The focus will be on enhancing the quality of key industries and fostering emerging and future industries, particularly through initiatives like "Artificial Intelligence+" [1]. - The NDRC aims to implement a more proactive fiscal policy and moderately loose monetary policy, with a key goal of promoting reasonable price recovery [2]. Group 2: Market Regulation and Competition - The NDRC intends to address "involution" competition by shifting from price competition to value competition, improving market access, and enhancing fair competition mechanisms [2]. - There will be a focus on regulating key industry prices and ensuring a healthy market order through the implementation of quality brand strategies [2]. - The NDRC plans to establish a national unified market construction regulation to standardize behaviors of local governments and enterprises [3]. Group 3: Energy Transition and Carbon Neutrality - The NDRC emphasizes the acceleration of energy transition by increasing the development of non-fossil energy and enhancing the capacity of the power grid [4]. - There will be a strong push for industrial upgrades towards green and low-carbon industries, including the promotion of zero-carbon parks and factories [4]. - The NDRC will implement comprehensive resource management and promote a circular economy to support carbon peak and neutrality goals [4]. Group 4: Economic Outlook - The NDRC forecasts a continuous improvement in economic structure and development momentum, with significant potential in consumption, investment, technology, and regional development [5]. - The focus will be on combining policy support with reform and innovation to transform development potential into new economic growth [5].