The ** Economic Work Conference held from December 11 to 12 systematically deployed the economic work in 2024 while comprehensively summarizing this year's economic work. On December 13, the Ministry of Finance, the Ministry of Finance, and the Ministry of Housing and Urban-Rural Development collectively stated at the "2023-2024 China Economic Annual Conference" that they would do a good job in next year's economic work and reveal the specific policy direction for the next stage.
Take into account the steady progress and grasp the timeliness.
This year, the main expected goals of China's economic and social development are expected to be successfully achieved. Now, many institutions ** China's annual economic growth is 5About 2%, China's contribution to global economic growth this year is about one-third, and it is still the largest engine of the world economy. Han Wenxiu, deputy director of the Finance Office in charge of daily work and director of the Agricultural Office, said.
Ning Jizhe, vice chairman of the China Center for International Economic Exchanges, said that China's GDP (gross domestic product), CPI (consumer price index), unemployment rate, and foreign exchange reserves are the four major macro indicators in international comparison.
According to a report released by the Asian Development Bank on December 13**, China's economy will grow by 52%, higher than previously expected. The report said that China's economy maintained its growth momentum in the third quarter, driven by factors such as household consumption and public investment. Strong domestic demand has pushed China's economy faster than previously expected.
Looking forward to next year's economic work, Han Wenxiu said that China's economic development is facing many favorable conditions and important opportunities, and on the whole, the opportunities outweigh the challenges. On the one hand, China's macro policy space is still sufficient, the price level is low, the debt level is not high, and there is still a lot of room for fiscal policy and monetary policy. This year, the issuance of an additional 1 trillion yuan of treasury bonds, the introduction of a package of plans to resolve local debt risks, and the reduction of the deposit reserve ratio will continue to release the effects of these policies next year. In the future, it is necessary to strengthen and improve macroeconomic regulation and control, persist in seeking progress while maintaining stability, and promote stability through progress.
It is necessary to take into account both 'stability' and 'progress' as a whole, and those who should be established must take the initiative to stand up, and those who should be broken must be resolutely broken on the basis of establishment. At the same time, it is necessary to work steadily and steadily, grasp the timing, degree, and effect, and not deviate from reality and rush for success. Han Wenxiu said.
Actively and prudently resolve real estate risks.
In view of the debt default risk of some real estate enterprises, the financial management department has issued a series of support policies, but it still needs a process to clear the risk. Dong Jianguo, a member of the party group and vice minister of the Ministry of Housing and Urban-Rural Development, said.
Among them, Dong Jianguo's statement that the default of real estate companies' debts is not equivalent to "thunder" has attracted attention.
We have noticed that for a period of time, the society has called the debt default of some real estate companies 'thunderstorm' and 'capital chain break', and its terminology is inaccurate. Dong Jianguo said.
Dong Jianguo said that if the debt default is equated with "thunder" or "capital chain breakage", it will cause the wrong understanding of the complete shutdown of the enterprise, lead to a crisis of social trust in the enterprise, and then impact the market sales and aggravate the difficulties of the enterprise. All parties should rationally look at the problems in the real estate market and jointly maintain the steady and healthy development of the real estate market.
At the same time, Dong Jianguo said that enterprises that are insolvent and lose their ability to operate due to violations of laws and regulations should be cleared in accordance with the principles of rule of law and marketization, and this is also the result of the survival of the fittest in the market.
This time, there is an important statement or action, that is, to 'correct the name' of such enterprises: the words "thunder" or "broken capital chain" are incorrect. We believe that this is the first time that the relevant departments have made some positive guidance for the image of insuring real estate enterprises, indicating that it is necessary to create a better operating and financing environment for such real estate enterprises. Yan Yuejin, research director of the E-House Research Institute, told China Business Daily.
The ** Economic Work Conference held on December 11 and 12 determined the focus of real estate work in 2024: to actively and steadily resolve real estate risks, meet the reasonable financing needs of real estate enterprises with different ownership systems without discrimination, and promote the steady and healthy development of the real estate market.
Dong Jianguo said that he will continue to cooperate with the financial management department, do a good job in the implementation of various policies, meet the reasonable financing needs of real estate enterprises of different ownership systems without discrimination, support real estate enterprises with tight capital chains to solve the problem of short-term cash flow constraints, promote their normal operation, and resolutely prevent the risk of debt default from breaking out.
Fiscal policy and monetary policy work together.
* The Economic Work Conference made it clear that it is necessary to strengthen the counter-cyclical and cross-cyclical adjustment of macroeconomic policies, continue to implement a proactive fiscal policy and a prudent monetary policy, and strengthen the innovation and coordination of policy tools.
In terms of macroeconomic regulation and control, Han Wenxiu said that the active fiscal policy should be moderately strengthened, improve quality and efficiency, and the prudent monetary policy should be flexible, moderate, precise and effective.
It is necessary to arrange a moderate deficit, local special bonds, budgetary investment, and transfer payments. The key to implementing the structural tax and fee reduction policy is to optimize the structure of fiscal expenditure and use the money on the 'cutting edge'. To improve the efficiency of the use of financial funds and the effect of policies, it is necessary to strictly supervise the transfer of payment funds, strictly enforce financial and economic discipline, strictly control general expenditures, and firmly adhere to the bottom line of the 'three guarantees' at the grassroots level. Han Wenxiu said.
For the 2024 fiscal policy of "moderate strengthening, quality and efficiency", Lin Zechang, director of the General Department of the Ministry of Finance, said that it is necessary to focus on supporting the construction of a modern industrial system, actively support scientific and technological innovation, ensure the demand for key core technology research funds, continue to increase support for basic research, deepen the reform of the allocation and use mechanism of science and technology funds, and adjust and optimize the direction of fund use. Efforts will be made to expand effective demand, continue to make good use of local special bonds, budgetary investment, etc., give full play to the leading role of investment, make good use of social security transfer payments and other tools, increase residents' income through multiple channels, and enhance consumption capacity.
In terms of monetary policy, Han Wenxiu believes that a prudent monetary policy should be flexible, moderate, precise and effective, and maintain reasonable and abundant liquidity. The scale of social financing and the amount of money should match the expected target of economic growth and the highest level, which is conducive to better coordinating the expected target requirements of actual economic growth and price level, and is more in line with the reality of macroeconomic regulation and control. (*China Business Daily).
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Article**: China Business Daily