Central Economic Work Conference
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The Central Economic Work Conference fine-tuned the monetary policy, not to mention "maintaining neutrality" and reiterating "appropriateness." ...[full text]
Xi Jinping delivered an important speech at the meeting, summed up the economic work in 2018, analyzed the current economic situation, and deployed economic work in 2019. ...[full text]
The meeting requested that the trading system be improved, more medium and long-term funds should be introduced, and the establishment of the science and technology board in the Shanghai Stock Exchange and the pilot registration system should be implemented as soon as possible. ...[full text]
Adhere to the real estate industry policy, classification guidance, consolidate the main responsibility of the city government, improve the housing market system and housing security system. ...[full text]
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Conference introduction

The Central Economic Work Conference is the highest level economic work conference at the annual level.

·content: Judging the current economic situation and the most authoritative trend indicator for the second year of macroeconomic policy

·task: Summarize the economic achievements of the past year; respond to changes in the current international and domestic economic situation; formulate macroeconomic development plans; and deploy economic work next year.

Annual meeting
years Total tone
2019 Adhere to stability and progress in accordance with high quality development requirements
2018 Adhere to the general tone of steady progress
2017 Continue to strive for stability
2016 Continue to strive for stability and implement a proactive fiscal policy
2015 Continue to strive for stability
Year 2014 Continue to strive for stability
year 2013 Continue to strive for stability
2012 Stable growth control price structure
year 2011 Stable growth and inflation adjustment structure
year 2010 Maintain policy continuity and stability
Year 2009 Expanding domestic demand
Year 2008 Controlled total price stability structure
2007 Continue to maintain a sound fiscal policy
year 2006 Continue to do a good job in macroeconomic regulation
2005 Consolidate macroeconomic regulation and control results
year 2004 Maintain macro policy continuity
Year 2003 Active fiscal sound monetary policy
year 2002 Expanding domestic demand
Meeting points
Central Economic Work Conference 12-word positioning capital market: unprecedented status

The meeting pointed out that "the capital market has a role in the financial operation, and it is necessary to deepen the reform to create a standardized, transparent, open, dynamic and resilient capital market, improve the quality of listed companies, and improve the trading system. Guide more medium and long-term funds to enter, promote the establishment of the science and technology board in the Shanghai Stock Exchange and the pilot registration system as soon as possible."...[Details]

The Central Economic Work Conference points to the capital market reform: transparency, openness, vitality and resilience

This year's Central Economic Work Conference set a specific goal for capital market reform, namely to create a standardized, transparent, open, dynamic and resilient capital market. Standardization, transparency and openness are a fixed target of capital market reform. The lack of vitality, in the economic downturn, the capital market is particularly evident; lack of resilience is a major problem in the domestic capital market. Compared with the mature capital market, China's capital market has more retail investors, which is prone to ups and downs. ...[Details]

Central Economic Work Conference: Seven key tasks should be done next year

The Central Economic Work Conference was held in Beijing from December 19th to 21st. The meeting confirmed that the following key tasks should be done next year. The first is to promote the high quality development of the manufacturing industry. The second is to promote the formation of a strong domestic market. The third is to solidly promote the rural revitalization strategy. The fourth is to promote regional coordinated development. The fifth is to accelerate the reform of the economic system. The sixth is to promote all-round opening up. The seventh is to strengthen protection and improve people's livelihood. ...[Details]

Central Economic Work Conference: Preventing abnormal fluctuations and resonance in financial markets, leading more medium and long-term funds to enter the market

The meeting pointed out that in order to prevent and resolve major risks, we must adhere to the basic ideas of structural de-leverage, prevent abnormal fluctuations and resonances in the financial market, and properly handle local government debt risks, so that we can be firm, controllable, orderly, and appropriate. ...[Details]

Central Economic Work Conference: insisting that the house is used for living, not for positioning

The Central Economic Work Conference stated that it is necessary to build a long-term mechanism for the healthy development of the real estate market, and insist on housing and not speculation. Adhere to the real estate industry policy, classification guidance, consolidate the main responsibility of the city government, improve the housing market system and housing security system. ...[Details]

Central Economic Work Conference: Beijing-Tianjin-Hebei, Guangdong, Hong Kong, Macao and the Yangtze River Delta must become an important source of high-quality development

The Central Economic Work Conference was held in Beijing from December 19th to 21st. The meeting stressed the need to continuously release the potential of domestic demand and promote regional coordinated development. The meeting proposed that we should coordinate the promotion of the development of the western region, the comprehensive revitalization of the Northeast, the rise of the central region, and the development of the eastern region. ...[Details]

Central Economic Work Conference: Promote the establishment of a science and technology board on the Shanghai Stock Exchange and pilot the registration system as soon as possible

Central Economic Work Conference: Guide more medium and long-term funds to enter, promote the establishment of a science and technology board on the Shanghai Stock Exchange and pilot the registration system as soon as possible. It is necessary to promote the reform of the fiscal and taxation system, improve the local tax system, and regulate the government's debt financing mechanism. ...[Details]

The Central Economic Work Conference changed the expression of monetary policy from neutral to moderately moderate

The meeting also pointed out that a sound monetary policy should be tight and moderate, maintain a reasonable and sufficient liquidity, improve the transmission mechanism of monetary policy, increase the proportion of direct financing, and solve the problem of difficult financing for private enterprises and small and micro enterprises. ...[Details]

Central Economic Work Conference: Accelerating the pace of 5G commercialization

China's development investment demand potential is still huge at present, we must play a key role in investment, increase manufacturing technology transformation and equipment renewal, accelerate the pace of 5G commercialization, and strengthen the construction of new infrastructure such as artificial intelligence, industrial Internet, and Internet of Things. ...[Details]

The Central Economic Work Conference pointed out that China's development is still in the long-term and important strategic opportunity period.

We must be good at turning crises into opportunities, turning the crisis into safety, closely adhering to the new connotation of important strategic opportunities, accelerating the optimization and upgrading of the economic structure, enhancing the ability of scientific and technological innovation, deepening reform and opening up, accelerating green development, participating in the reform of the global economic governance system, and transforming the pressure to accelerate the promotion of economic high. The power of quality development. ...[Details]

Central Economic Work Conference: This year's three major battles will be successful in the first battle. Next year, we must focus on the outstanding issues.

We must do a good job in preventing and resolving major risks. We must adhere to the basic ideas of structural de-leverage, prevent abnormal fluctuations and resonances in financial markets, and properly handle local government debt risks, so that we can be firm, controllable, orderly, and appropriate. ...[Details]

Central Economic Work Conference: Innovating and improving macroeconomic regulation and control

Continue to lay out three major battles, focus on stimulating the vitality of micro-subjects, innovate and improve macro-control, and promote the steady growth, promote reform, adjust structure, benefit the people's livelihood, prevent risks, and maintain economic operation in a reasonable range...Details]

Central Economic Work Conference: Preventing abnormal fluctuations and resonances in financial markets, and properly handling local government debt risks

We must do a good job in preventing and resolving major risks. We must adhere to the basic ideas of structural de-leverage, prevent abnormal fluctuations and resonances in financial markets, and properly handle local government debt risks, so that we can be firm, controllable, orderly, and appropriate. ...[Details]

Analysis and interpretation
The Central Economic Work Conference released the overweight signal! How to influence the 2019 A-share investment This is the most comprehensive interpretation!

The central economic work conference has a strong screen. How to interpret this conference and what impact it will have on the economy and investment next year should be the most concerned issue for investors. Fund Jun interviewed several private equity agencies for the first time. Sorted out the reviews of 10 brokerage research institutions for investors' reference. ...[Details]

The central government comprehensively adjusted 2019: a larger scale of tax cuts and reductions, real estate should be applied to the city, moderately loose, and the registration system capital market is targeted at these ten points.

The meeting held that this year, we adhere to the general tone of steady progress and strive for the high-quality development requirements, effectively respond to the profound changes in the external environment, face the difficulties and work hard, and achieve the goal of macro-control, and the three major battles start well, and the supply-side structure The reforms were further advanced, the reform and opening up were strengthened, the Sino-US economic and trade frictions were steadily addressed, the people's lives continued to improve, and the economy continued to develop healthily and the overall social stability was maintained. The results are hard to come by. ...[Details]

Five key points to see the monetary policy adjustment next year: a prudent monetary policy to maintain a reasonable liquidity

From the operation of the central bank’s monetary policy in recent months, the important statement of the central bank’s governor Yi Gang’s publicity, and the analysis of the 2019 economic work of the Politburo meeting of the CPC Central Committee on December 13, the monetary policy will be stable next year. Looseness is expected to be released early. ...[Details]

The Central Economic Work Conference will set the “resilient” capital market for the next year. Explain the top ten tasks of the seven major tasks.

The meeting confirmed that the following key tasks should be grasped next year: First, promote the high-quality development of manufacturing. The second is to promote the formation of a strong domestic market. The third is to solidly promote the rural revitalization strategy. The fourth is to promote regional coordinated development. The fifth is to accelerate the reform of the economic system. The sixth is to promote all-round opening up. The seventh is to strengthen protection and improve people's livelihood. ...[Details]

The first mention of "changing in the middle of the worry" Central Economic Work Conference requires macroeconomic policies to strengthen countercyclical adjustment

The definition of “worry” involves both internal and external aspects: the external environment is complex and severe, mainly referring to the difficulties caused by global trade protectionism and unilateralism, which have caused difficulties in global economic integration, and the turning point of global economic recovery has led to major economies. And financial risks have risen. ...[Details]

Li Dazhao: Central Economic Work Conference breaks rumors and boosts stock market confidence

This meeting raised the issue of increasing the proportion of direct financing, which will play an important role in restoring stock market confidence and financing functions. Overall, the content of this meeting will play a very positive role in the stability of the stock market, dispelling many false rumors, and the economic and stock market stability next year is worth looking forward to. ...[Details]

Take the lead and move the whole body! The Central Economic Work Conference pays close attention to the capital market. It is necessary to improve the trading system and guide more medium and long-term funds to enter.

The meeting pointed out that the capital market has a role in the financial operation. It is necessary to deepen reforms to create a standardized, transparent, open, dynamic and resilient capital market, improve the quality of listed companies, and improve the trading system. Guide more medium and long-term funds to enter, promote the establishment of the science and technology board in the Shanghai Stock Exchange and the pilot registration system as soon as possible. ...[Details]

Central Economic Work Conference: Reaffirming that "households do not speculate" Next year's property market regulation still cracks down on speculation

Zhang Dawei, chief analyst of Zhongyuan Real Estate, said that this time he once again explicitly asked for housing and not to speculate, which means that the regulation of the national real estate will remain in the previous state. Although some cities have recently fine-tuned, the basic principles will not change as a whole, and the central government’s determination to curb housing prices will not change. ...[Details]

The minimal version is here! Key points of the Central Economic Work Conference less than 800 words

China's development is still in the long-term and important strategic opportunity period. Macro policy: Continue to implement a proactive fiscal policy and a prudent monetary policy. Structural policy: Create an institutional environment for fair competition and encourage SMEs to accelerate their growth. ...[Details]

What reforms will the capital market face in 2019? Just look at the 96 words of the Central Economic Work Conference.

The Central Economic Work Conference has made arrangements for economic work in 2019. In the official news release, 96 words have been used to outline the reform of the capital market. In addition to the reform measures of the capital market itself, the Central Economic Work Conference proposed seven key tasks for 2019. ...[Details]

What will happen to the Chinese economy next year? Let the changes in steel demand tell you!

On December 10, the Metallurgical Industry Planning and Research Institute released the results of China's steel demand forecast for 2019. According to the agency's calculations, China's steel demand in 2019 was 800 million tons, down 2.4% year-on-year. This forecast is based on two calculation models: “downstream industry consumption law” and “GDP and fixed investment consumption coefficient method”. ...[Details]

Is it not enough to cut interest rates to make up? In 2019, the money mode was restarted?

2019 will be an extremely differentiated structural year. Assets are not so good, only the difference between superiority and inferiority. In 2018, China’s interest rate hike stopped and the RRR cut came. After the economy experienced the shock therapy in 2017, the pace of market clearing in 2018 was significantly accelerated, and debt defaults also concentrated in the first half of the year. ...[Details]

It is expected that the economic target will be adjusted back to 6% next year.

Viewpoint real estate new media understand that with the transformation of China's economic structure, China's GDP target has declined in recent years. Shen Jianguang said that looking forward to next year, it is expected that the Central Economic Work Conference will still face the reality that “the downward pressure on the economy has increased”, and it is expected to reduce the GDP growth rate in 2019 to around 6%, so as to move out of structural reforms and respond to external risks. space. ...[Details]

hot topics
2019 Institutional Investment Strategy Association

In 2019, the annual strategy of brokers has to be released. Several major brokers expressed optimism about next year's A-shares. CITIC Securities believes that in 2019, it will usher in the starting point of revival of cattle in the next 3-5 years. ...[Details]

Multi-party efforts to bail out private enterprises

Recently, the decision-making layer frequently mentioned the operational difficulties of private enterprises and small and medium-sized enterprises. In view of the difficulty in financing private enterprises, the decision-making layer adopted the two ways of “rescue” and “maintaining stability”. ...[Details]