Xinhua News Agency, Beijing, March 6 (Xinhua) -- "China ** Daily" published an article on March 6 entitled "Deepening Reform and Seeking Development, Macro Policies Release Afterburner and Steady Growth Signals". According to the article, the ** work report submitted for consideration on March 5 disclosed the expected target of GDP growth this year. Many experts believe that the expected economic growth target of about 5% is based on the current and long-term, which is conducive to stabilizing expectations and improving confidence; Macroeconomic policies have released a signal of strengthening and stabilizing growth.
Improve expectations and boost confidence.
Many experts believe that the expected GDP growth target of about 5% is conducive to improving market expectations and boosting confidence.
This year, we have set the expected target for economic growth at about 5 percent, which is based on the current situation and with a long-term perspective after taking into account various factors, including the domestic and international situation, including needs and possibilities. Huang Shouhong, head of the drafting group of the work report and director of the research office, said.
In the view of Huang Qunhui, a member of the National Committee of the Chinese People's Political Consultative Conference and director of the Institute of Economics of the Chinese Academy of Social Sciences, the economic growth target of about 5% takes into account both needs and possibilities. From the perspective of needs, the "14th Five-Year Plan" proposes that the per capita GDP will reach the level of moderately developed countries by 2035, and this goal needs to maintain a certain economic growth rate every year; From the perspective of possibility, the expected target of about 5% also fully takes into account the potential capacity of economic growth and the actual support conditions.
Wang Qing, chief macro analyst of Oriental Jincheng, believes that considering the impact of base factors, achieving economic growth of about 5% this year means that the actual economic growth momentum is stronger than last year. At present, maintaining a medium-to-high-speed growth level of about 5% can provide a basic guarantee for ensuring people's livelihood and employment, maintaining financial stability, and resolving local debt risks, and provide a favorable environment for accelerating the construction of a modern industrial system and solidly promoting high-quality development.
There is still ample room for monetary control.
Macroeconomic policies have also released a signal of strengthening and stabilizing growth. **The work report proposes that starting from this year, it is planned to issue ultra-long-term special treasury bonds for several consecutive years, which will be specially used for the implementation of major national strategies and security capacity building in key areas, and 1 trillion yuan will be issued this year.
Qin Rongsheng, a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) and a professor at the Beijing National Accounting Institute, said that ultra-long-term special treasury bonds are mainly used for the implementation of major national strategies and security capacity building in key areas, and are not included in the deficit, and the maturity may be more than 10 years, which will bring great benefits to the improvement of competitiveness and the healthy and stable development of the economy and society.
In terms of monetary policy, Zhang Bin, a member of the National Committee of the Chinese People's Political Consultative Conference and deputy director of the Institute of World Economics and Politics of the Chinese Academy of Social Sciences, believes that the current space for China's monetary policy is very sufficient, which can be used to increase the level of aggregate demand. Specifically, there is room for further reductions in interest rates; In addition to traditional monetary policy tools, tools such as PSL (Collateral Supplementary Loans) can be combined with the issuance of policy financial bonds to support the growth of credit and infrastructure investment.
Information**. Xinhua News Agency).
In order to continue to stabilize expectations, Zhang Bin suggested that through the implementation of more vigorous counter-cyclical policies, aggregate demand should be expanded, residents' incomes and corporate profits should be increased. In addition, there are a number of structural policies that need to be introduced. For example, we will create a better and more level playing field for private enterprises, and enhance people's sense of gain and confidence through better infrastructure and better public services.
Improve the modern enterprise system with Chinese characteristics.
* The work report proposes to unswervingly deepen reform and enhance the endogenous driving force of development.
In terms of stimulating the vitality of various business entities, the work report makes it clear that state-owned enterprises, private enterprises, and foreign-funded enterprises are all important forces in modernization. It is necessary to continuously improve and implement the "two unswerving" systems and mechanisms, and create a good environment for fair competition and competitive development for enterprises of all types of ownership. Improve the modern enterprise system with Chinese characteristics and build more world-class enterprises.
When it comes to supporting the innovation and development of the private economy, Huang Shouhong said that on the one hand, from the perspective of the first place, it is necessary to create a good environment and build a stage for private enterprises; On the other hand, private entrepreneurs should actively forge ahead and overcome difficulties and challenges.
In addition, planning a new round of reform of the fiscal and taxation system is also an important task in the next stage. The budget report submitted for examination on the same day proposed to establish and improve a modern financial system that is compatible with Chinese-style modernization. (ENDS).