The 4 trillion yuan economic stimulus and its consequences include:
1. It has played an important role in stimulating investment and stabilizing the economy. In accordance with the overall requirement of the central government's "rapid re-implementation", localities and local departments quickly improved and implemented the three major guarantee systems of organization, policy and supervision of the central government's investment projects, and accelerated the construction of the projects. Driven by the central government's policy of expanding investment, social investment has shown strong growth momentum. From January to September this year, the whole society's investment increased by 33.4 percent, 6.4 percentage points higher than the same period last year.
The structure of investment has been further optimized, with investment in livelihood projects such as agriculture, education, health, social security and culture, which are mainly encouraged and supported by the state, growing by 42-72 percent year-on-year. GDP growth in the third quarter was 8.9 percent, 1 percentage point and 2.8 percentage points higher than that of the first half of the year and the first quarter, respectively.
2. A solid foundation has been laid for further strengthening the construction of the "three rural areas" and improving people's livelihood. Strengthening the rural livelihood and agricultural infrastructure construction, strong support for rural drinking water safety, rural power grids, roads, biogas, dangerous house reconstruction. Improvement of rural production and living conditions, the completion of a large number of projects for the benefit of the masses, the interests of the masses.
This year, the central government's four batches of investment, livelihood projects accounted for more than 50% of the investment. As of the end of August, 1.1 million sets of primary health care facilities have been completed, the transformation of rural junior high school buildings nearly 4 million square meters. Two hundred and seventy thousand units of low-cost housing had been completed, and 1.26 million units of new construction had begun. It has solved the problem of drinking water safety for 22.78 million rural people, and completed the construction of 2.47 million rural biogas households, 200,000 kilometers of rural roads and 103,000 kilometers of rural power grids.
3. We are actively promoting the strategic adjustment of economic structure and the transformation of development mode. We will continue to make accelerating structural adjustment and transforming the mode of development the main tasks of maintaining stable and rapid economic development.
For example, the central financial authorities have arranged 20 billion yuan of investment to support the adjustment and revitalization of key industries and the development of small and medium-sized enterprises. The pace of technological transformation of enterprises has been significantly accelerated, and the independent manufacturing of major equipment has been accelerated. The capacity for independent innovation has been enhanced, and a number of high-tech industrialization projects have been implemented.
We will continue to take energy conservation and emission reduction as an important part of expanding domestic demand and maintaining growth. We will support the construction of ten key energy-saving projects, the construction of urban sewage and garbage treatment facilities and supporting pipelines, and the prevention and control of water pollution in key river basins. As of the end of August, the country has built sewage treatment capacity of 5.18 million tons / day, garbage treatment capacity of 16,000 tons / day, 6.69 million tons of standard coal, water conservation capacity of 131 million tons.
4, the construction of major infrastructure steadily, Wenchuan earthquake recovery and reconstruction in an orderly manner. In order to alleviate infrastructure bottlenecks, accelerate the construction of major infrastructure, and enhance the long-term sustainable development of infrastructure capacity. Accelerate the construction of Harbin, Guangzhou, Wuhan-Guangzhou, Nanguang, Guiguang and a number of other major railroad projects, with a total railroad mileage of nearly 1,500 kilometers.
South-to-North Water Diversion and other large and medium-sized water conservancy projects are progressing smoothly, and nearly 1,500 large and medium-sized water conservancy projects have been basically completed. Roads, airports, and urban power grid renovation are advancing in an orderly manner. We will adhere to the people-oriented approach, respect for nature, comprehensive consideration and scientific post-disaster reconstruction, accelerate post-Wenchuan earthquake reconstruction, and further improve the region's economic development capacity.
As of the end of August 2008, the total investment in the project had reached more than 505 billion yuan, accounting for 50.5 percent of the total planned investment, which is 50.5 percent higher than the original total planned investment.
Expanded Information:
The main contents of the 4 trillion plan:
1. Accelerate the construction of security housing projects. Increase support for the construction of low-cost housing, accelerate the transformation of shantytowns, the implementation of nomadic resettlement projects, and expand the pilot project for the transformation of rural dilapidated housing.
2, accelerate the construction of rural infrastructure. Strengthen rural biogas safety, drinking water safety, rural road construction, strengthen the construction of rural power grids, accelerate the South-to-North Water Diversion and other major water conservancy projects, strengthen the rehabilitation of reservoirs at risk and large-scale irrigation water-saving transformation. Increase the development of poverty alleviation.
3. Accelerating the construction of railroads, highways, airports and other major infrastructure. Focusing on the construction of a number of passenger lines, coal transportation corridors and western railroad trunk lines. Improve the highway network, arrange for the construction of the central and western airports, and accelerate the transformation of urban power grids.
4. Accelerate the development of medical care, health care, culture and education. Strengthen the construction of grass-roots medical and health service system, accelerate the transformation of rural junior high school buildings in the central and western regions, and promote the construction of special education schools and township comprehensive cultural stations in the central and western regions.
5. Improving the ecological environment. Accelerate the construction of urban sewage and garbage treatment facilities and the prevention and control of water pollution in key watersheds, strengthen key forests and projects to protect natural forest resources, and support the construction of key projects to conserve energy and reduce emissions.
6, accelerate independent innovation and structural adjustment. Support the industrialization of high technology and industrial technological progress, and support the development of the service industry.
7. Accelerate post-disaster reconstruction in earthquake-stricken areas.
8, increase the income of urban and rural residents. Next year to raise the minimum purchase price of grain, increase the comprehensive direct subsidies for agricultural capital, good seed subsidies, agricultural machinery subsidies, increase farmers' income. Improve the treatment of low-income groups and other social security recipients, raise the urban and rural low income standard, continue to raise the basic pension for enterprise retirees and the level of livelihood protection for those in favor.
9. Fully implement the value-added tax (VAT) transition in all regions and industries, encourage technological transformation of enterprises, and reduce the burden on enterprises by 120 billion yuan.
10. Strengthen financial support for economic growth. We will abolish restrictions on the size of credit used for commercial banks, expand the size of credit in a reasonable manner, increase credit support for key projects, agriculture, rural areas and farmers, small and medium-sized enterprises, technological upgrading, mergers and acquisitions, cultivate and consolidate growth points in consumer credit.
According to preliminary estimates, by the end of 2010, about 4 trillion yuan will be invested to implement the above projects. In order to speed up the construction, the meeting decided to increase the central government's investment by 100 billion yuan in the fourth quarter of this year and 20 billion yuan in advance of next year for post-disaster reconstruction, and to raise local and non-government investment to a total of 400 billion yuan.
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