**The Economic Work Conference was held in Beijing from December 11th to 12th, and Su Jian, director of the National Economic Research Center of Peking University, exclusively interpreted the six highlights of the conference.
Aspect 1, the meeting mentioned "focusing on the central work of economic construction and the primary task of high-quality development", Su Jian said that the economic construction was put forward again as the central work of the party, highlighting the importance of economic work in the current party's work.
Aspect two, the meeting required that "next year we must adhere to the stability of the progress, to promote stability, first establish and then break", Su Jian believes that the economic growth in a more important position, hope to use economic growth to make it more stable, highlighting the importance of stable growth, to understand next year's macro policy tendency also left a very clear clue.
Aspect 3, Su Jian pointed out that the meeting mentioned "to enhance the consistency of macro policy orientation" and "include non-economic policies in the evaluation of macro policy orientation consistency, strengthen policy coordination, and ensure that the same direction is forced, forming a joint force", mainly for some departmental policies in recent years, especially when the policies of various departments are superimposed, which have a more obvious impact on China's macroeconomic situation.
The fourth point is to expand domestic demand, Su Jian believes that "stimulating potential consumption and expanding effective investment" is consistent with high-quality development, because the current problem facing China's economy is overcapacity, and in order to achieve high-quality development in this context, it is necessary to expand high-quality demand, and from a domestic perspective, it is nothing more than consumption and investment. "Potential consumption" should be a consumption link that can bring better utility to consumers, and "effective investment" is an investment that can bring higher returns to enterprises, and the quality of consumption and investment is relatively high, which helps to prevent financial risks and ensure the normal and stable operation of the economy.
Highlight five is the issue of real estate risk, Su Jian said that the meeting used a long length to discuss real estate risk issues and how to deal with them, mainly mentioning "to meet the reasonable financing needs of real estate enterprises of different ownership without discrimination", it can be seen that the current attitude towards the real estate market has been clear, which will contribute to the stability of China's macroeconomy. Some economists estimate that real estate accounts for about 17% of China's GDP, which means that one of the cores of stabilizing the macroeconomy is to stabilize the real estate market, so it is necessary to pay enough attention to it, and at the same time strengthen the prevention of real estate market risks.
Highlight six is monetary and fiscal policy, Su Jian said that the meeting also called for "continuing to implement a proactive fiscal policy and a prudent monetary policy, strengthening policy tool innovation and coordination", especially "giving full play to the dual functions of monetary policy tools and structure", which means that the structural function of China's monetary policy may be further valued and strengthened, and at the same time, a positive fiscal policy will still be adopted, reflecting that next year's economic growth target will not be too low, and it should still be at 5% In order to achieve such a growth target, expansionary fiscal and monetary policies should continue in 2024.
Reporter Dong Xiangyi Produced by Yu Kunhang Otaku Finance (For more reporting clues, please contact the author of this article: [email protected])
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