According to the CICC research report, the Central Economic Work Conference objectively analyzed the development situation facing the Chinese economy and did not shy away from difficult challenges. We believe that the conference focused on outstanding issues and had very clear goals, and directly responded to the widespread concerns of the market and society on a series of hot issues such as consumption, investment, real estate, corporate accounts, and market competition order. In terms of choosing policy tools, this conference showed a more focus on quality and efficiency, and a wider range of tools to choose from. The policy direction for next year is to “pursue progress steadily, improve quality and efficiency.” Among them, “improving quality and efficiency” is a new requirement this year, which may mean that next year's macroeconomic policies will pay more attention to the effects of implementation, rather than just focusing on total expansion.

According to the CICC research report, the Central Economic Work Conference objectively analyzed the development situation facing the Chinese economy and did not shy away from difficult challenges. We believe that the conference focused on outstanding issues and had very clear goals, and directly responded to the widespread concerns of the market and society on a series of hot issues such as consumption, investment, real estate, corporate accounts, and market competition order. In terms of choosing policy tools, this conference showed a more focus on quality and efficiency, and a wider range of tools to choose from. The policy direction for next year is to “pursue progress steadily, improve quality and efficiency.” Among them, “improving quality and efficiency” is a new requirement this year, which may mean that next year's macroeconomic policies will pay more attention to the effects of implementation, rather than just focusing on total expansion.