In the recent ** economic work conference,"High-quality development"This concept is mentioned frequently, appearing a total of 16 times. The meeting clearly pointed out that next year's economic activities should focus on quality rather than quantity, which is reflected in the spirit of "striking iron needs its own hardness". Whether it is deepening reforms in key areas or formulating macro policies, they are all aimed at achieving high-quality development. Especially in the field of science and technology, high-quality development is regarded as the key to leading the future, playing the role of a "sharp knife force" and walking in the forefront of development.
Before the meeting, various "weather vanes", from the central bank to the open channels, had already pointed the way. But the problem is that people may be "tacitly" unwilling to accept the importance of high-quality development in their hearts, perhaps out of hesitation for change. Therefore, in the future, we will continue to pay attention to the "ammunition depot" of the conventional path and the "ammunition depot" of the broad fiscal and the "road map" of the three major engineering policies.
At the same time, the latest release of social finance data is still the first net financing force, and the most interesting thing is the old brother M1, whose year-on-year growth is only 13%, which is the thinnest figure in history since 1986, except for the regular ups and downs in January every year. The last time it was so "light" was in December 2018, when it was 15%。
M1 and M2, these two goods are actually the two rulers for us to look at the economic tide. M1, it's like the cash you carry with you and the balance in the card, directly telling you what you can buy now and how much you can swipe. This thing is like a weather vane in the weather forecast, and when you move, the barometer of the economy will be visible. But M2, this guy is much deeper, in addition to cash and deposits, but also hitched a ride on a car of potential spending power. This is like the passbook and wealth management products in your bank, although you don't have it in hand, but it can also guide you how far you can paddle in the future.
When it comes to the decline in M1 growth, it is a bit like everyone's wallets are deflated, and there is not much silver in their hands, and merchants and ordinary people feel that life is not easy. This is like a cold snap for companies that want to borrow money to expand, because everyone is holding their wallets tightly, and borrowing and spending are not very active. **The commodity market may also be affected by this 'chill', and everyone is waiting and seeing, not daring to make a move easily.
** Economic Work Conference