Author丨Zhang Xin.
Editor丨Li Yumin.
On March 5, Premier Li Qiang made a work report to the Second Session of the 14th National People's Congress.
**The working report proposes that the expected GDP growth target for 2024 is about 5%. The environment facing China's development this year is still the coexistence of strategic opportunities, risks and challenges, and the basic trend of economic recovery and long-term improvement has not changed and will not change, and we must enhance confidence and confidence. At the same time, we must adhere to the bottom-line thinking and be fully prepared to deal with various risks and challenges.
*How does the work report evaluate the financial work in 2023? What are the specific requirements for financial work in 2024? To this end, the 21st Century Business Herald reporter summarized five highlights.
Aspect 1: A prudent monetary policy should be flexible, moderate, precise and effective
*The work report pointed out that in the past year, the monetary policy has been precise and powerful, with two cuts in the reserve requirement ratio and two cuts in the policy interest rate, and a significant increase in loans for scientific and technological innovation, advanced manufacturing, inclusive small and micro enterprises, and green development.
For this year's monetary policy focus,**The work report requires that a prudent monetary policy should be flexible, moderate, precise and effective. Maintain reasonable and abundant liquidity, the scale of social financing, and the amount of money to match the expected targets of economic growth and the highest level. Strengthen the dual adjustment of aggregate volume and structure, revitalize stocks, improve efficiency, and increase support for major strategies, key areas and weak links. Promote the steady decline of social financing costs, smooth the monetary policy transmission mechanism, and avoid the idling of capital precipitation. Enhance the intrinsic stability of the capital market. Maintain the basic stability of the RMB exchange rate at a reasonable and balanced level. Vigorously develop science and technology finance, green finance, inclusive finance, pension finance, and digital finance. Optimize supporting measures such as financing credit enhancement, risk sharing, and information sharing, to better meet the financing needs of small, medium and micro enterprises.
Aspect 2: Provide support for stabilizing employment and improving people's livelihood
Employment is the most basic livelihood of the people. According to the work report, in the past year, great importance has been attached to stabilizing employmentPolicies to support enterprises to stabilize and expand their jobs have been introduced, and employment promotion services for key groups such as college graduates have been strengthenedMore than 33 million people have been lifted out of poverty。We have strengthened the construction of weak links in compulsory education, done a good job in the "double reduction" work, and the national student loan has been raised and the interest rate has been lowered to benefit more than 11 million students.
In terms of promoting employment, ** the work report said, expectedThis year, there are more than 11.7 million college graduates, and it is necessary to strengthen policies and measures to promote youth employment and optimize employment and entrepreneurship guidance services。In this regard, the work report pointed out that it is necessary to highlight the priority orientation of employment, strengthen the support of fiscal, tax, financial and other policies to stabilize employment, and increase the intensity of special policies to promote employment. Implement and improve policies such as the return of stable jobs, special loans, employment and social security subsidies, and strengthen support for enterprises in industries with large employment capacity.
In terms of improving people's livelihood, the ** work report pointed outThe per capita financial subsidy standard for residents' medical insurance will be increased by 30 yuan。Promote the coordinated development and governance of medical insurance, medical treatment, and medicine. Promote the provincial overall planning of basic medical insurance, improve the national centralized drug procurement system, strengthen the normalized supervision of the use of medical insurance, and implement and improve the settlement of medical treatment in other places.
In terms of pension, the first work report pointed out that it is necessary to implement a national strategy to actively respond to the aging of the population. The minimum monthly standard of basic pension for urban and rural residents will be increased by 20 yuan, the basic pension for retirees will continue to be raised, and the national overall pension insurance will be improved。Implement the personal pension system throughout the country, and actively develop the third pillar of pension insurance.
Aspect 3: Treat both the symptoms and the root causes to resolve key financial risks and maintain overall economic and financial stability
Preventing and resolving financial risks is the eternal theme of financial work. When reviewing the results of the work, the work report pointed out that in the past year, due to the city's policies, the real estate regulation and control were optimized, the cost of housing loans was reduced, and the work of ensuring the delivery of buildings was actively promoted. At the same time, we have formulated a package of plans to resolve local debts and deal with financial risks in a classified manner, so as to maintain the bottom line of preventing systemic financial risks.
In the deployment of this year's work requirements, the first work report pointed out that it is necessary to effectively prevent and resolve risks in key areas. Adhere to high-quality development to promote high-level safety, and ensure quality development with high-level safety guaranteesTreat both the symptoms and the root causes to resolve risks such as real estate, local debt, and small and medium-sized financial institutions, and maintain overall economic and financial stability
First, we must deal with risks and hidden dangers in a steady and orderly manner. Improve the overall coordination mechanism for the handling of major risks, consolidate the main responsibilities of enterprises, departmental supervision, and local territories, improve the efficiency of disposal, and firmly maintain the bottom line of no systemic risks. Optimize real estate policies, support the reasonable financing needs of real estate enterprises under different ownership systems without discrimination, promote the healthy and stable development of the real estate market, and coordinate the resolution and stable development of local debt risksWe will further implement a package of debt reduction plans, properly resolve existing debt risks, and strictly prevent new debt risks. Steadily promote the risk management of small and medium-sized financial institutions in some places. Crack down on illegal financial activities.
Second, we must improve the long-term mechanism for risk prevention and control. Adapt to the development trend of new urbanization and the changes in the supply and demand relationship of the real estate market, and accelerate the construction of a new model of real estate development。Increase the construction and supply of affordable housing, improve the basic system related to commercial housing, and meet the needs of residents for rigid housing and diversified and improved housing. Establish a first-class debt management mechanism that is compatible with high-quality development, improve the full-caliber local debt monitoring and supervision system, and promote the transformation of local financing platforms by category. Improve the financial supervision system and improve the ability to prevent and control financial risks.
Aspect 4: Promote the reform of finance, taxation and finance
*The work report pointed out that in the past year, we have deepened reforms in the fields of finance, taxation and finance. Promote the stable scale and optimal structure of foreign trade, and the import of electric vehicles, lithium batteries, and photovoltaic products increased by nearly 30%.
In the new year, the ** work report is proposed, toBuild a high-level socialist market economy system reform pilot zone。Plan a new round of fiscal and taxation system reform, implement the reform and deployment of the financial system, and increase fiscal, tax and financial support for high-quality development.
Aspect 5: Expand high-level opening up to the outside world and increase efforts to attract foreign investment
*The work report pointed out that in the past year, we have improved the policy of attracting foreign investment and expanded institutional opening-up. Solidly promote the high-quality development of the Belt and Road Initiative, and accelerate the rapid growth of investment with the co-construction countries.
For the new year, the work report pointed out that it is necessary to expand high-level opening up to the outside world and promote mutual benefit and win-win results. We will take the initiative to align with high-standard international economic and trade rules, steadily expand institutional opening-up, enhance the linkage effect of domestic and international markets and resources, consolidate the fundamentals of foreign trade and foreign investment, and cultivate new advantages in international economic cooperation and competition.
Promote the quality and quantity of foreign trade. Strengthen support for import and export credit and export credit insurance, optimize cross-border settlement, exchange rate risk management and other services, and support enterprises to explore diversified markets。Promote the healthy development of new business formats such as cross-border e-commerce, optimize the layout of overseas warehouses, support the upgrading of processing products, and expand new growth points such as intermediate goods and green. Actively expand the import of high-quality products. Full implementation of the negative list for cross-border services**. Introduce innovative development policies for services and digital. Accelerate the integrated development of domestic and foreign trade. We will do a good job in organizing major exhibitions such as the China International Import Expo, the Canton Fair, the Trade in Services Fair, and the Digital Trade Fair. Accelerate the construction of the international logistics system, build a smart customs, and help foreign trade enterprises reduce costs and improve efficiency.
Intensify efforts to attract foreign investment. We will continue to reduce the negative list for foreign investment access, fully remove the restrictions on foreign investment access in the manufacturing sector, and relax market access for service industries such as telecommunications and medical care. Expand the catalogue of industries that encourage foreign investment, and encourage foreign-funded enterprises to reinvest in China. Implement the national treatment of foreign-funded enterprises, ensure equal participation in procurement, bidding and bidding, and the formulation of standards in accordance with the law, and promote the resolution of issues such as cross-border data flow. Strengthen the service guarantee for foreign investment and build the brand of "Invest in China". Enhance the convenience of foreign personnel to work, study and travel in China. We will further implement the promotion strategy of the pilot free trade zone, give more autonomy to the pilot free trade zone and the Hainan Free Port, promote the reform and innovation of the development zone, and create a new highland for opening up.
In addition, the ** work report also proposes to:Deepen multilateral, bilateral, and regional economic cooperation。Promote the implementation of free trade agreements that have come into force, and negotiate and sign high-standard free trade agreements and investment agreements with more countries and regions. Promote the China-ASEAN Free Trade Area 30 version of the negotiations, and promote accession to the Digital Economy Partnership Agreement and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership。China will fully and deeply participate in the reform of the WTO, promote the building of an open world economy, and bring more win-win results of cooperation to the people of all countries.
sfc
Editor: Zhong Hailing, Intern: Liao Jiayi.
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