How will China s economy do this year? The authoritative response of multiple departments sends an i

Mondo Finance Updated on 2024-02-20

How to speed up the construction of a unified national market?

How to open up a new track for future industries?

How to strengthen the counter-cyclical and cross-cyclical adjustment of macro policies?

How to coordinate and resolve risks such as real estate, local debt, and small and medium-sized financial institutions?

In order to implement the spirit of the Economic Work Conference, recently, the people launched the column "Policy Q&A: What China's Economy Will Do in 2024", and the relevant persons in charge of multiple departments answered the hot issues that the enterprise masses were concerned about

Question:

How to speed up the construction of a unified national market?

Answer:The market is the most scarce resource, and China has the world's most potential super-large-scale market. ** The Economic Work Conference proposed, "Accelerate the construction of a unified national market, and strive to eliminate various forms of local protection and market segmentation." ”

Accelerating the construction of a unified national market is conducive to the smooth flow of commodity elements in a wider range and the efficient linkage of domestic and international markets, which is to smooth the domestic cycle and promote the construction of a new development patternA necessary requirementIt is also to release the potential of domestic demand and consolidate the foundation for economic recoveryImportant grippers。Wang Guowei, deputy director of the Comprehensive Planning Department of the State Administration for Market Regulation, said.

In the new year, how to speed up the construction of a unified national market? Wang Guowei introduced,First of allIt is necessary to study and explore institutional arrangements and policy supply that are compatible with the mature market economyProvide a stable, open, transparent and predictable institutional environment for business entitiesSecondlyReform the market access system for business entities, and improve the industry rules that are simple, efficient, fair and transparent, and lenient and strictly managedReduce the cost of the systemIn additionIt is also necessary to focus on the key areas of product quality and safety that are related to the vital interests of the people, deepen the quality of industrial products, the safety of special equipment, the safety of food and drugs, and the governance of market order, and strive to optimize the market consumption environmentEarnestly enhance the people's confidence in consuming with confidence

"In particular, efforts should be made to break down all forms of local protection and market segmentation. ”Zhou Zhigao, deputy director of the Competition Coordination Department of the State Administration for Market Regulation, said that it is necessary to carry out in-depth special rectification of problems such as market segmentation and local protection, and vigorously rectify themThe people and business entities have a strong reactionProminent problems such as restricting transactions, restricting the independent relocation of enterprises, and hindering the free flow of commodity elements and resourcesto promote the efficient and smooth circulation of the national economy. At the same time, establish and soundFair competition system mechanism。PushThe promulgation of the Regulations on Fair Competition Review has been acceleratedImprove work systems such as fair competition review and report handling, spot checks, etc., and coordinate the use of various methods such as reminders and urges, law enforcement interviews, case filing and investigation, and administrative recommendationsPolicies and measures to prevent and suppress competition in a timely manner

Li Qing, vice president of the China Society for Economic Structural Reform, said that it is necessary to build a unified national marketMake up your mind to straighten out the relationship between the market and the local government, speed up the reform of the fiscal and taxation system, optimize the matching of financial power and local responsibilityIn terms of system, we should put an end to the generation of closed small markets and self-small circulation。It is also necessary to focus on a higher level of overall promotionImprove a unified property rights protection system, implement a unified market access system, and maintain a unified fair competition systemThese three important reform tasks require multi-level and multi-faceted overall planning and coordinationThe system is synergistic and the policy is synergistic

Question:

How to open up a new track for future industries?

Answer:The future industry represents a new round of scientific and technological revolution and industrial transformationDisruptive technologieswithRevolutionary innovationfor essential characteristics,It is expected to develop into an emerging industry and even a pillar industry。The development of future industries is not only an intrinsic requirement for promoting high-quality development, but also an important support for the construction of a modern industrial system.

The general secretary emphasized at the 11th collective study of the Political Bureau of the Communist Party of China: "It is necessary to apply the achievements of scientific and technological innovation to specific industries and industrial chains in a timely manner, transform and upgrade traditional industries, cultivate and expand emerging industries, lay out and build future industries, and improve the modern industrial system." * The Economic Work Conference noted that "to buildBiomanufacturing, commercial aerospace, low-altitude economy, etcA number of strategic emerging industries have been developedQuantum, life sciences, etcA new track for the future industry".

In the new year, how to turn the blueprint of the future industry into reality and shape new advantages for development?

Gain advantages in "standing".Enhance the ability of independent innovation

The future industry is an industry formed based on cutting-edge and major scientific and technological innovationsThe fundamental way out for the development of future industries is scientific and technological innovation。The relevant person in charge of the Ministry of Industry and Information Technology said that the cultivation and development of future industries should focus on key areasContinue to carry out cutting-edge technology research

The source of original technology for the future industry should be based on high-level scientific and technological self-reliance and self-improvement, and give full playStrategic scientist and strategic entrepreneurThe enthusiasm of the two subjects explores the synergy mechanism of scientific and technological innovation and industrial innovation"Entrepreneurs ask questions, scientists answer questions", "Scientists give technology, entrepreneurs use technology".

High-quality promotion of future industrial innovation and entrepreneurship incubation and cultivation should be based onTwo-way integration of innovation chain and industrial chain, aiming to build a leading pillar industry that leads the future, formedGive the scene, educate the subjectThe policy support method highlights the application scenarios and early market supply, and is formedAll kinds of start-ups are constantly emerging and developinggood ecology.

Seek a breakthrough in "progress".Create a high-quality ecological environment

It is inseparable from cultivating and developing future industries and promoting the gathering of innovative elements in future industriesStrong policy guidance and institutional guarantees。The relevant person in charge of the Ministry of Industry and Information Technology said that an action plan for future industrial development will be introducedArtificial intelligence, humanoid robots, metaverse, 6G, quantum information, deep-sea aerospace developmentand other fields, focusing on breakthroughs in key technologies, cultivating key products, and expanding scenario applications.

Next will beWe will continue to coordinate technological innovation, large-scale development, and the construction of application scenariosWe will look forward to the layout of future industries, actively develop new quality productivity, and strive to seize the commanding heights of global industrial competition. The relevant person in charge of the Ministry of Industry and Information Technology said.

Question:

How to strengthen the counter-cyclical and cross-cyclical adjustment of macro policies?

Answer:**The Economic Work Conference requires that we should 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. How to understand the counter-cyclical and cross-cyclical adjustment of macro policies? How to do this important work well?

Countercyclical regulationIt is through the use of a series of macroeconomic policy tools,Timely ironing out short-term fluctuations that may occur in economic operationCross-cycle adjustmentAdded consideration of medium- and long-term economic developmentIt takes into account the short-term cyclical fluctuations of the economy and the medium- and long-term structural problems。Tian Xuan, deputy dean of Tsinghua University's PBC School of Finance, said.

Deficit management, tax cuts and fee reductionsIt is a powerful policy tool to deal with cyclical fluctuations in the economyIn recent years, it has played an important role in the steady growth of the economy. Wang Jianfan, director of the Budget Department of the Ministry of Finance, said that the current macro policy toolbox is in the toolboxFiscal policy tools are well stockedand will be used well this yearAdditional issuance of national bonds, local ** general bonds, and local ** special bondsand other policy tools, increase the overall planning of fiscal funds, moderately increase the scale of fiscal expenditure, and better play the role of stimulating domestic demand and promoting economic circulationConsolidate and strengthen the positive trend of economic recovery

InvestmentIt is a powerful tool for dealing with cyclical fluctuations in the economy。This year willReasonably arrange the scale of investment and give full play to the amplification effect。Wang Jianfan said that China is in the rapid development stage of new industrialization, informatization, urbanization and agricultural modernization, and there is still a large space for investment in many aspects, so we must grasp the direction of investmentEfforts should be made to improve investment efficiency and stimulate the vitality of private investment

Zou Lan, director of the monetary policy department of the People's Bank of China, said that in 2024, it willComprehensive applicationBase money delivery tools such as open market operations, medium-term lending facilities, re-lending and re-discounting, and reserves, ironing out short-term fluctuations in interest rates, and providing strong support for the scale of social financing and the reasonable growth of money and credit. At the same timeGuide financial institutions to strengthen liquidity risk managementto maintain the smooth operation of the money market and provide for consolidating and enhancing the positive trend of economic recoveryFavorable monetary policy environment

In recent years, the People's Bank of China has innovatively launched a number of structural monetary policy toolsPromote financial resourcesMore flows to priority areas and weak areas that need support in the medium and long term。"This year, it is necessary to further improve the guidance efficiency of monetary and credit policies, do a good job in science and technology finance, green finance, inclusive finance, pension finance, and digital finance, and serve high-quality development. Zou Lan said.

We should do a good job in the cross-cycle adjustment of macroeconomic policies, and strengthen fiscal, monetary, employment, industrial, regional, science and technology, and environmental protection policiesCoordination, make sureForce in the same direction to form a resultant force。Tian Xuan said.

Question:

How to coordinate and resolve risks such as real estate, local debt, and small and medium-sized financial institutions?

Answer:**The Economic Work Conference pointed out that it is necessary to coordinate and resolve risks such as real estate, local debt, and small and medium-sized financial institutions, and severely crack down on illegal financial activitiesResolutely adhere to the bottom line of no systemic risk。In 2023, China will promote the steady and healthy development of the real estate market, and in the first 11 months, the whole country.

1. The total transaction volume of second-hand houses has achieved positive year-on-year growth, and the work of ensuring the delivery of buildings has been solidly promoted; The debt risk resolution of financial support financing platforms is progressing in an orderly manner; The operating and regulatory indicators of financial institutions are within a reasonable range, and the financial market is running smoothly.

Security is a prerequisite for development. How will we continue to effectively prevent and resolve risks in key areas this year?

-- Actively supporting the steady and healthy development of the real estate market.

According to the relevant person in charge of the Ministry of Housing and Urban-Rural Development, this year willContinue to do a good job in ensuring the delivery of buildings, ensuring people's livelihood and ensuring stability, strengthen the supervision of pre-sale funds,Prevent new delivery windsinsurance;In conjunction with the State Administration of Financial Supervision and Administration, guide local governments to establish a coordination mechanism for urban real estate financingCoordinate and solve the difficulties and problems existing in real estate financing;Implement the responsibilities of the city where the headquarters of the real estate enterprise is located and the city where the project company is locatedResolutely recover the pre-sale funds that have been withdrawn

The relevant responsible person of the People's Bank of China said that this yearThe monitoring and analysis of the real estate market will be strengthenedCity-specific policiesPrecise implementationDifferentiated Housing Credit Policyto meet the reasonable financing needs of all kinds of real estate enterprises, do a good job"16 Articles of Finance".andFinancial support for the construction of affordable housing, the construction of public infrastructure for both ordinary and emergency purposes, and the transformation of urban villagesand other policies.

-- Preventing and resolving local debt risks.

At present, China's debt level is at the lower level of the middle reaches in the world, from a structural point of viewThe debt burden is relatively light, the debt level is not high in most places, and there are more resources and means to resolve the debt。The National Financial Work Conference proposed that it is necessary to strictly implement the established measures to reduce debts, increase the resolution of existing hidden debts, resolutely prevent new hidden debts, improve the long-term mechanism of debt reduction, and effectively prevent and resolve local debt risks. A relevant responsible person of the People's Bank of China said that financial institutions will be guided this yearIn accordance with the principles of marketization and rule of law, we should rationally use debt restructuring and replacement to implement classified policies to resolve the risks of existing debts of financing platforms, and strictly control incremental debts

-- Promoting the resolution of risks for small and medium-sized financial institutions.

In recent years, after continuous reform, the risk is reducedThe number of risky banks is on a downward trend, almost halving from its peak in 2019The reform direction and risk mitigation ideas of the existing high-risk banks have been clearly defined and are being steadily implemented. The relevant person in charge of the State Administration of Financial Supervision and Administration saidFor small and medium-sized banks with high risks, it is necessary to implement high-intensity supervision and gradually converge the relevant risks。At the same time, it is jointly formulated with local party committees and relevant departments"One line, one policy".We will plan the path and corresponding measures for the implementation of reform and risk reduction, take multiple measures to resolve and dispose of stock risks in a prudent and orderly manner, and strictly control incremental risks.

*:People**.

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