中国:长期增长战略 – 渣打银行
渣打银行经济学家廖佳和丁爽预计,中国将在全国人民代表大会上设定2026年国内生产总值(GDP)增长目标为4.5–5.0%,略低于2025年。

渣打银行经济学家廖佳和丁爽预计,中国将在全国人民代表大会上设定2026年GDP增长目标为4.5–5.0%,略低于2025年。财政政策应保持支持,但力度减弱,而货币政策则保持适度宽松,重点关注流动性。

政策支持与结构性优先事项

"中国可能在即将召开的全国人民代表大会(NPC)上设定4.5-5.0%的GDP增长目标,这比2025年的约5%略有下降,并与到2035年实现中等发达经济体收入的长期目标大致一致。"

"刺激消费和促进创新可能仍将是政策优先事项,复苏主要通过反内卷措施来实现,包括加强劳动保护、遏制无序竞争、提高行业标准和加强对政府补贴的监管。"

"宏观政策将继续保持支持,但不会激进。"

"财政政策可能仍将发挥主导作用,尽管官方赤字将比2025年略窄,因为贸易不确定性减轻,政策制定者将从“非常规”转向“必要”的逆周期支持。"

"货币政策可能仍将保持适度宽松,重点关注充足的流动性,而不是大幅降息。"

(本文由人工智能工具协助创建,并由编辑审核。)

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