Chinese Academy of Social Sciences Institute of Finance: In 2026, it is necessary to adhere to both policy support and reform innovation.

The report on China's macro-financial analysis for the fourth quarter of 2025 released by the Institute of Finance of the Chinese Academy of Social Sciences recently pointed out that in 2026, the country's economic policy orientation will shift from "strengthening unconventional countercyclical adjustment" to "increasing the intensity of countercyclical and cross-cyclical adjustments." The macro-financial analysis team of the Institute of Finance of the Chinese Academy of Social Sciences believes that in 2026, it is necessary to adhere to the dual-pronged approach of policy support and reform innovation, and coordinate the short-term macroeconomic regulation and medium- to long-term reform governance. To this end, three suggestions are proposed: first, fiscal and financial coordination to effectively unleash domestic demand potential; second, using high-quality urban renewal as the starting point to promote investment stabilization; third, innovating macroeconomic governance thinking and accelerating the repair of microeconomic balance sheets.