What are the novelties and highlights of this year's work report, and what important signals of high-quality development are released, let's see the interpretation of relevant experts.
The 5 per cent growth target is a target that balances both needs and possibilities.
* The work report proposes that GDP will grow by about 5% this year. Experts say the goal strikes a balance between need and possibility.
Wu Sa, Deputy Director of the Economic Research Institute of the China Academy of Macroeconomics: From the perspective of needs, in order to meet the requirements of the 14th Five-Year Plan and the construction of a modern country, but also to ensure employment and guard against certain economic risks, we need a certain amount of growth.
Possibly speaking, China's economy continues to pick up and improve, and the potential economic growth rate is greater than 5 percent, although there are still many difficulties and challenges, but it can be achieved through hard work.
Dong Yu, Executive Vice President of the China Development Planning Research Institute of Tsinghua University: At the same time, the goal of about 5% is also based on the support conditions of our factors, and it is also based on the continuous growth of new kinetic energy in all aspects.
Ultra-long-term special government bonds will be used in two ways.
This year's work report proposes that in 2024, the active fiscal policy should be moderately strengthened, and the quality and efficiency should be improved. Starting this year, China will issue ultra-long-term special treasury bonds for several consecutive years, so what will ultra-long-term special treasury bonds be used for and what role will they play? Let's take a look at the experts' interpretation.
*The work report proposes that in order to systematically solve the funding problem of some major projects in the process of building a strong country and national rejuvenation, from 2024, ultra-long-term special treasury bonds will be issued for several consecutive years, and 1 trillion yuan will be issued this year, which will be specially used for the implementation of major national strategies and security capacity building in key areas.
Dong Yu, executive vice president of the China Development Planning Research Institute of Tsinghua University: The issuance of ultra-long-term special treasury bonds for several consecutive years is a very important deployment in the fiscal policy, and it is to implement the requirements of the direction of fiscal policy with moderate strengthening.
Experts said that the ultra-long-term special treasury bonds are aimed at two aspects, one is the implementation of major national strategies, and the other is security capacity building in key areas, which are aimed at the relatively long-term and are closely integrated with the task of Chinese-style modernization.
Wu Sa, Deputy Director of the Economic Research Institute of the China Academy of Macroeconomics: For example, new urbanization and rural revitalization; For example, in the area of rejuvenating the country through science and education; For example, food security, energy security. Then, we urgently need some medium- and long-term investments in these fields in the future, and these investments will continue to be issued through ultra-long-term special treasury bonds, because the cycle of issuance of these treasury bonds is relatively long, and the entire cycle of generating economic and social benefits in these fields is also relatively long, and the two match each other and can better play the special role of ultra-long-term treasury bonds.
Restrictions on foreign investment in the manufacturing sector will be lifted completely.
Building a new system of a higher-level open economy is also an important task of this year's economic work, and the work report proposes that a number of measures related to expanding opening up will be introduced, which will make it more convenient for foreign-funded enterprises to invest in China and further stimulate the investment enthusiasm of foreign-funded enterprises.
According to the content of the work report, this year, China will further improve the quality and level of investment cooperation, implement the national version and the free pilot zone version of the negative list of cross-border services, and this year, we will fully cancel the restrictions on foreign investment access in the manufacturing sector.
Dong Yu, executive vice president of the China Development Planning Institute of Tsinghua University: manufacturing itself is our advantage, at the same time, we must also accelerate the transformation and upgrading of our manufacturing industry, so that more foreign capital to participate in the development of China's manufacturing industry, which can effectively promote the improvement of our own manufacturing capabilities, but also help China's manufacturing capacity and foreign markets, and foreign advanced management experience to better integrate. It is also an important breakthrough for us to improve our overall level of opening up to the outside world and promote dual circulation.
This year, China will also relax market access for service industries such as telecommunications and medical care, and ensure that domestic and foreign capital can enter fields outside the negative list on an equal footing in accordance with the law. At the same time, it is also necessary to further facilitate the exchange of people between China and foreign countries, effectively break through the blockages for foreign personnel to work, study and travel in China, and accelerate the resumption of international flights.