Consolidate and strengthen the positive trend of economic recovery

Mondo Finance Updated on 2024-01-31

**:People**.

The recent economic work conference emphasized "expanding effective investment", "promoting the development and growth of private enterprises", and "consolidating the basic market of foreign trade and foreign investment". How to complete the key tasks in accordance with the deployment of the first economic work conference?Luo Guo, Director of the Fixed Assets Investment Department of the National Development and Reform Commission.

3. Wei Dong, director of the Private Economic Development Bureau, and Zheng Chiping, director of the Department of Utilization of Foreign Capital and Overseas Investment, answered reporters' questions.

Expand profitable investment and ensure that investment results in high-quality supply.

Reporter: How do you evaluate the investment performance in 2023?

Luo Guosan: In 2023, the National Development and Reform Commission and relevant departments will actively do a good job in expanding effective investment, and effectively drive investment in the whole society through first-class investment and policy incentives. In the first 11 months, national investment increased by 29%, which was down 9 percent in real estate development4% of the time, it can be said that it is not easy to come by;Manufacturing investment grew by 63%, infrastructure investment increased by 58%, which played an important supporting role in investment growth;Affected by real estate development investment, private investment fell by 05%, but private investment, excluding investment in real estate development, increased by 91%。

Reporter: **The economic work conference emphasized "expanding profitable investment". How to do a good job of implementation in the next step?

Luo Guosan: At present, there is a large investment space in China's industrial innovation and development, transformation and upgrading, making up for shortcomings in weak economic and social areas, and ensuring and improving people's livelihood. Next year's investment work will focus on promoting the implementation of strategies such as regional coordinated development, rural revitalization, new urbanization, and rejuvenating the country through science and education, reasonably grasp the direction of investment, scientifically carry out project decision-making, and ensure that investment forms a high-quality supply. At the same time, we will focus on high-quality preliminary work of the project, strengthen the guarantee of land use, environmental impact assessment, energy use and other elements, accelerate the construction of the project, and promote the formation of physical workload as soon as possible.

The first is to accelerate the construction of projects in key areas around strengthening the foundation, increasing momentum, benefiting people's livelihood and promoting consumption. Vigorously promote the implementation of 102 major projects in the 14th Five-Year Plan. Support the research of key core technologies and promote the development of strategic emerging industries. Accelerate the construction of new infrastructure and vigorously develop the digital economy. Promote the transformation and upgrading of traditional industries, and accelerate technological transformation such as energy conservation and carbon reduction. Promote the construction and transformation of urban underground pipe networks, and accelerate the construction of the "three major projects" of real estate. Increase the supply of high-quality products in the fields of education, medical care, and "one old and one young".

The second is to make good use of the additional issuance of treasury bonds, budgetary investment, local special bonds and other investments, and effectively play a driving amplification effect. Maintain a reasonable investment intensity, further optimize the investment structure, and strive to improve investment efficiency. Further speed up the issuance and implementation of the first budget investment plan, and strengthen the supervision of the whole process of the project. Optimize the scope of special bonds to be used as capital and give full play to the leverage role. In addition, it is necessary to promote the construction of additional treasury bond projects as soon as possible, speed up post-disaster recovery and reconstruction, and systematically enhance China's disaster prevention, mitigation and relief capabilities. After careful examination and approval in conjunction with relevant departments, our committee has consulted with relevant departments to issue a list of two batches of projects for the issuance of additional treasury bonds, and has arranged for the issuance of additional treasury bonds of more than 800 billion yuan. We will also step up the issuance of a list of follow-up projects and implement all the 1 trillion yuan of treasury bonds into specific projects as soon as possible.

The third is to focus on strengthening service guarantees and strive to mobilize the enthusiasm of private investment. Continue to do a good job in promoting projects to private capital and promote the implementation of more projects. We should pay close attention to the establishment of a national database of key private investment projects, and strengthen the guarantee of project financing support and land use. Standardize the implementation of the new mechanism of social capital cooperation, and encourage private enterprises to participate in the construction and operation of infrastructure and public utilities to the greatest extent. Actively and prudently promote the healthy development of infrastructure real estate investment trusts, promote the revitalization of stock assets, and form a virtuous cycle of investment.

We will go all out to promote the healthy and high-quality development of the private economy.

Reporter: In 2023, a series of policies and measures to promote the development and growth of private enterprises have been introduced and implemented

Wei Dong: The private economy is a new force in promoting Chinese-style modernization. In July 2023, the "Opinions of the Communist Party of China on Promoting the Development and Growth of the Private Economy" was released, sending a strong signal to promote the development and growth of the private economy. In September, in accordance with the national decision-making and deployment, the National Development and Reform Commission established the Private Economic Development Bureau as a special working agency to promote the development and growth of the private economy. Since its establishment, the Private Economic Development Bureau, together with relevant departments, has established and improved mechanisms to "clear blockages", promote private investment to "improve confidence", carry out special governance to "break barriers", and improve financing support to "solve problems", and strive to make private enterprises feel and gain.

In the first 11 months of 2023, the development of China's private economy has recovered for the better, and the growth rate of private investment in the secondary industry has continued to remain high, with an increase of 97%, which is higher than the overall investment growth rate of the secondary industry by 07 percentage points;The growth of the import and export of private enterprises was significantly better than the overall level, and the import and export of private enterprises denominated in RMB increased by 61%, 6 faster than the growth rate of total import and export1 percentage point, accounting for 53 percent of total imports and exports3%, an increase of 3 over the same period last year1 percentage point. In November, the SME Development Index was 893. The prosperity has rebounded.

Reporter: How to further boost the confidence in the development of private enterprises?

Wei Dong: **The Economic Work Conference emphasized that a number of measures should be implemented to promote the development and growth of private enterprises and implement a number of measures in terms of market access, access to factors, fair law enforcement, and protection of rights and interests. Next, we will guide private enterprises to be proactive in changing their methods, adjusting their structure, improving their quality, and increasing efficiency, and further give full play to the role of the private economy in stabilizing growth, promoting innovation, increasing employment, and improving people's livelihood.

First, it is necessary to grasp the implementation and put down the requirements for equal treatment of state-owned enterprises and private enterprises in terms of system and law. Efforts should be made to build a legal and institutional guarantee system to promote the development of the private economy, and effectively ensure that all forms of ownership of the economy have equal access to the market in accordance with the law, participate in market competition openly, fairly and justly, use the factors of production equally, and enjoy equal legal protection.

The second is to create a good atmosphere and create a good environment to encourage and support the development of the private economy from the policy and the first level. Support private enterprises to carry out key core technology research and undertake major national science and technology projects;Actively participate in the global industrial division of labor and resource allocation, and enhance core competitiveness;Participate in major strategies and play a more important role in the process of Chinese-style modernization. At the same time, practice and promote the "Jinjiang experience", and find ways to create a good atmosphere for promoting the development of the private economy.

Third, it is necessary to solve difficult problems and solve the problems restricting the development of the private economy on a case-by-case basis and as a whole. Adhere to the spirit of nailing nails and solve specific problems for private enterprises from point to point. Research and compile the index of private economic development, and strengthen the monitoring, analysis, and judgment of the situation of private economic development.

One point of deployment, nine points of implementation. We will resolutely unify our thoughts and actions with the spirit of the important speech and decision-making arrangements of the general secretary at the economic work conference, take the initiative to act, earnestly perform our duties, continuously improve our capabilities, and go all out to promote the healthy and high-quality development of the private economy.

Expand high-level opening up to the outside world and consolidate the fundamentals of foreign trade and foreign investment.

Reporter: In 2023, what is the progress of China's expansion of opening up, utilization of foreign capital and overseas investment?

Zheng Chiping: In 2023, under the complex and severe situation at home and abroad, China will further promote the expansion of opening up to the outside world, and achieve positive results in the use of foreign capital and overseas investment.

Strengthen the top-level design of the new system of open economy, and take the initiative to promote reform and development through opening up. In July 2023, the second meeting of the Committee for Comprehensively Deepening Reform deliberated and adopted the "Opinions on Building a New System of a Higher Level of Open Economy and Promoting the Construction of a New Development Pattern", which provides a guide for high-level opening-up in the coming period.

Greater efforts should be made to attract and utilize foreign investment, and foreign investment should remain high. Implement the catalogue of industries that encourage foreign investment, implement comprehensive policies and measures to promote the expansion of foreign investment, stabilize the stock and improve the quality with a focus on the manufacturing industry, continuously optimize the foreign investment environment, strengthen foreign investment services, and promote the implementation of foreign-funded projects. From January to October 2023, against the backdrop of sluggish global transnational investment, China's foreign investment scale reached nearly 1 trillion yuan, maintaining a historical high, of which the use of foreign capital in high-tech manufacturing increased by 9% year-on-year5%, some European and American countries' investment in China has grown rapidly. The first six batches of landmark major foreign-funded projects were implemented in an orderly manner, with an investment of US$73 billion, and the seventh batch of projects was newly launched, with a planned investment of more than US$15 billion.

Guided by the high-quality Belt and Road Initiative, a number of overseas landmark projects have achieved positive results. The China-Laos Railway has been in safe and stable operation for 2 years, and its role as a major channel for international logistics has been further demonstrated. The Jakarta-Bandung high-speed railway has been in operation for two months, and the cumulative number of passengers has exceeded 700,000. Since the acquisition of COSCO Shipping in the port of Piraeus, the cargo throughput of the Greek port has rebounded rapidly, and the comprehensive index has returned to one of the top ten shipping hubs in the world. The construction and operation of overseas cooperation projects have effectively promoted the economic and social development and improvement of people's livelihood in the host country, and achieved mutual benefit and win-win results.

Reporter: In the next step, how will we expand high-level opening up to the outside world and consolidate the basic market of foreign trade and foreign investment?

Zheng Chiping: To expand high-level opening-up, we must not only see the challenges of the unstable and uncertain international environment, but also see the precious opportunities such as a more balanced international balance of power, the in-depth development of a new round of scientific and technological revolution and industrial revolution, and the vigorous development of the digital economy. In the next step, we will overcome the challenges and seize the opportunities, focusing on the following tasks.

First, we should solidly promote the construction of a new system of a higher-level open economy. Focusing on institutional opening-up, we will focus on key areas such as investment, finance, and innovation to deepen institutional and institutional reforms, and take the initiative to improve the level of opening-up.

The second is to improve the quality of foreign investment and stabilize the basic market of foreign investment. Promote the introduction and implementation of a package of policies and measures to attract foreign investment more vigorously, and solve the current blockages and difficulties faced by foreign investors in China. Restrictions on foreign investment in the manufacturing sector will be lifted in an all-round way, and the service sector will continue to be further opened up to provide a broader space for foreign investment in China. We will continue to create a market-oriented, law-based, and international first-class business environment, promote the implementation of equal treatment for foreign-funded enterprises in procurement, bidding, and standard formulation, and cultivate the soil for foreign-funded enterprises to deepen their cultivation of the Chinese market.

The third is to promote high-level "going out" and enhance the ability to participate in the international cycle. Guided by high-quality Belt and Road cooperation, we will continue to build high-quality landmark projects and promote "small but beautiful" projects, and carry out in-depth infrastructure connectivity, international production capacity and investment cooperation, and third-party market cooperation, so as to achieve complementary advantages and mutual benefit and win-win results, so that the fruits of cooperation can better benefit the people of all countries, and make greater contributions to promoting world economic recovery and global development and prosperity. (Reporter Liu Zhiqiang).

People** December 30, 2023 Edition 06).

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