本报告认为,全球货币政策分化明显,国际金融市场危机潜伏。2015年中国宏观经济承受通缩压力与金融动荡,2016年仍将艰难寻底。目前供给侧存在的问题不仅制约了潜在增长率的提高,而且不利于稳增长的政策效果的发挥。因此,我国必须通过供给侧的结构性改革构筑增长新动力,促进经济稳定增长。同时,还要大力推动金融监管体制改革,有效应对通缩,切实防范系统性金融风险。 This report argues that the global monetary policy is obviously differentiated and the crisis in international financial markets is latent. In 2015, China’s macroeconomy will withstand deflationary pressures and financial turmoil, and it will still be hard to find its way into 2016. At present, problems on the supply side not only hinder the growth of the potential growth rate, but also unfavorable for the policy effect of steady growth. Therefore, China must build a new impetus for growth through the structural reforms on the supply side to promote steady economic growth. At the same time, we must vigorously promote the reform of the financial regulatory system, effectively deal with deflation and effectively prevent systematic financial risks.