"Thirteenth Five-Year" the opening year, the supply-side structural reform is making efforts to attack. How to complete the five key tasks of removing production capacity, removing inventory, removing leverage, lowering costs, and replenishing short boards, testing the ability of macroeconomic regulation and deepening reform, determining the prospects for China's economic transformation and upgrading, and becoming a focus of attention for delegates and members of the National People's Congress who have come to participate in the National People's Congress.
Going to production capacity
Determined to implement in place
"Reducing production capacity is not as simple as moving your lips, the whole process is very difficult, involving a series of problems such as corporate debt, employee resettlement, transformation and upgrading." National People's Congress, Hebei Yongyang Special Steel Group Company Chairman Du Qingshen told reporters that the company's production capacity from 3 million tons to 2.4 million tons after the reduction, by adjusting the production line to produce steel for automobiles, excavator shovels, and other new products, corporate profits rose instead of falling.
Part of the industry's serious overcapacity is the chronic disease of China's economic development, the economy into the new normal, the problem has become more and more transformation and upgrading of the stumbling block. "Going to production capacity is the first of the five tasks. If this problem is not solved, it will be difficult to achieve practical results on other issues such as deleveraging and de-stocking." National Committee of the Chinese People's Political Consultative Conference (CPPCC), China (Hainan) Institute for Reform and Development Chi Fulin, president of the Institute, hit the nail on the head.
National People's Congress, economist Koo Shengchou analysis, supply-side structural reform is first of all to release the resource elements from the overcapacity industry enterprises, and through entrepreneurship and innovation for the emerging industries to deliver more labor, capital and technology.
Going to production capacity, the key lies in the implementation. National People's Congress, Hunan Lengshuijiang Iron and Steel Company Chairman Chen Dai Fu said that the government and society should create new jobs in various aspects, to seek a way out for the enterprise staff; the enterprise itself should get rid of the "wait to rely on" mentality, and strive to solve the problem of inefficiency and ineffectiveness through scientific and technological innovation.
Ku Shengchou said, to go to production capacity will bring unemployment and tax cuts and other problems, is a very painful process, the key to do a good job of social policy support. At the same time vigorously promote the development of innovation and entrepreneurship and the service industry, effectively hedging the pressure on economic development caused by the de-capacity.
De-inventory
Properly respond to the pattern of differentiation
The real estate market in first-tier cities is on fire, prices continue to rise, while many of the second line, especially the third and fourth tier cities are still "full of cold".
"The real estate market differentiation intensified, increasing the difficulty and complexity of de-inventory." National People's Congress, Jilin Provincial Committee of the Democratic Revolution full-time vice chairman Guo Neshuo said, first-tier cities itself has a strong "siphon effect", house prices rise has a certain basis. But irrational rise is obviously not conducive to the healthy and stable development of the real estate market, and overdraw the purchasing power of the third and fourth tier cities.
"At this stage, the third and fourth tier cities are the focus of de-inventory." Wang Yiming, deputy director of the Development Research Center of the State Council, suggested developing a bulk rental market, controlling the supply of real estate land in areas with net population outflows, and providing policy incentives for rural transfer populations.
In the context of increasing market differentiation, the "one-size-fits-all" style of regulation can no longer adapt to the changes in the real estate market.
"The key to solving the contradiction is to reform and adjust the real estate supply structure." Cai Jiming, a deputy to the National People's Congress and a professor at Tsinghua University, said that it is necessary to distinguish the investment-oriented market from the owner-occupier and improvement-oriented market.
Deleveraging
Keeping the bottom line of not incurring systemic financial risks
As the downward pressure on the economy increases, the non-performing rate of some bank loans is rising, and the pressure of "deleveraging" is further strengthened.
In common parlance, the leverage ratio is the debt-liability ratio. Zhou Xiaochuan, governor of the People's Bank of China, believes that China's debt level needs to be vigilant, not only to prevent the problems that may be caused by excessive debt ratios, but also to prudently analyze China's national conditions, and look for a way to gradually alleviate such a phenomenon.
"Financial risk points are many and wide, and mutual contagion, we should attach great importance to the current financial field of various risk points." Koo said on behalf of the need to grasp the strength and rhythm of the de-capacity, de-stocking and de-leveraging. To use more market-oriented methods to go to production capacity, the establishment of a long-term mechanism for real estate regulation and control, and standardize the local government debt.
Li Yang, a deputy to the National People's Congress and chairman of the National Laboratory for Finance and Development, said, "The key is also to maintain a certain economic growth rate, and to reduce leverage by improving the total economic 'denominator'."
Reducing costs
Let enterprises "light load"
"For a long time, China's real economy enterprises, especially small and micro-enterprises, high costs remain high, and high costs crowded out the narrow profit margins of enterprises." Koo Shengchu representative said.
Under the increased pressure of economic downturn, enterprises are facing more prominent problems such as expensive financing, heavy tax burden, labor difficulties, and high hidden costs. According to statistics, last year, the profit margin of industrial enterprises above designated size was only 5%, while the interest on loans alone usually exceeds 5%.
Li Lan, a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) and deputy director of the Institute of Public **** Management and Human Resources Research of the Development Research Center of the State Council, suggested that, on the basis of a series of tax cuts that have been taken, the tax cuts for enterprises should be further increased, boosting entrepreneurs' confidence and development momentum, and mobilizing entrepreneurs to invest in the industry.
Mr. Koo said that the foundation of economic growth should be stabilized, and the cost of the real economy should be reduced by a good "combination of punches", so that enterprises can "lighten their loads".
Make up the short board
Seize the key point of economic transformation and upgrading
How much water a barrel can hold depends on the shortest piece of wood. The weakest link constrains the overall level of economic and social development.
Cai Ling, a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) and head of the research department of the DAB Central Committee, said that the current poverty alleviation is an arduous task, the urban and rural infrastructures and public ****service capacity is insufficient, and the people's needs in the fields of education, old-age care, medical care, tourism and culture are constantly upgrading, which are the main areas to make up for the short boards.
"Poverty alleviation is the most urgent, and improving innovation capacity is the most long-term. Improve the core of effective supply or rely on innovation, and whether the enterprise technology upgrading equipment renovation or R & D innovation, all need huge investment." National People's Congress, Wave Group Chairman Sun Pishu said.
Recently, the state has identified measures to further support the new energy automobile industry. Representative Cai Jiming said that vigorously developing new energy vehicles can not only alleviate the problems plaguing China's resources and environment, but will also drive the entire industrial chain to leapfrog development. "Under the new economic normal, it is of great significance to effectively 'make up for short boards' in order to accelerate economic transformation and upgrading."
"The five key tasks of supply-side structural reform have pressure and protection, and there are reductions and additions." Representative Koo Shengchu said that under the downward pressure of the economy, mending the short boards can become a new point of strength for economic growth.
Three to one down a complementary program two
At the same time, some policy measures need to be further studied and formulated, some places have not yet acted forcefully, and some of the work grasped is still not precise. To y understand the context of the times, the current economic development of China has cyclical and aggregate problems, but the most prominent structural problems, the main aspect of the contradiction in the supply side.
The fundamental purpose of supply-side structural reform is to improve the quality of supply to meet the needs of the supply capacity to better meet the growing material and cultural needs of the people; the main direction of attack is to reduce ineffective supply, expanding the effective supply, and improve the adaptability of the supply structure to the structure of the demand for the current focus on the promotion of the "three to one down and one to complement". Five major tasks; the essential attribute is to deepen the reform, promote the reform of state-owned enterprises, accelerate the transformation of government functions, and deepen the basic reform of price, taxation, finance, social security and other areas.
To make the work more detailed and practical, targeted policy development, to solve the problem; specific work from the practical point of view, staring to see, someone to manage, immediately dry.
On expanding the middle-income group, ****** emphasized that it is necessary to adhere to the quality and efficiency of development, to maintain macroeconomic stability, for the improvement of the people's lives to lay a more solid foundation; it is necessary to carry forward the spirit of hard work to become rich, to motivate people to create a better life through labor; it is necessary to improve the system of income distribution, and to adhere to the main body of distribution according to the work of the distribution of a variety of methods of distribution coexisting system, to put the The system of income distribution must be improved, insisting on the distribution according to labor as the mainstay and a variety of distribution methods coexisting system, combining the distribution according to labor and the distribution according to the factors of production, and dealing with the distribution relationship between the government, enterprises and residents.
It is necessary to strengthen human capital, increase investment in human capital, focus on the quality of education, and build a modern vocational education system; it is necessary to play the role of entrepreneurs, help enterprises to solve the difficulties and confusion, and ensure that all kinds of factor inputs to obtain a return; it is necessary to strengthen the protection of property rights, improve the modern property rights system, and strengthen the protection of ownership of state-owned assets, the right to operate, and the right to property rights of enterprise legal persons. Strengthen the protection of property rights of the non-public economy, strengthen the protection of intellectual property rights, and enhance the people's sense of security of property.
****** Xin Ming, professor of the Party School, and Liu Shengjun, executive director of the China-Europe Lujiazui Institute of International Finance, commented on the content of the 13th meeting of the Central Leading Group of Finance and Economics.
Three to one down a complementary program three
************, ******, the central ******, the Central Leading Group of Finance and Economics leader ****** May 16 morning presided over the thirteenth meeting of the Central Leading Group of Finance and Economics, respectively, to study the implementation of the supply-side structural reforms, the expansion of the middle-income group work. ****** delivered an important speech emphasized that the promotion of supply-side structural reform, is a comprehensive study of the world economic situation and China's economic development of the new normal to make a major decision, all regions and departments should focus on promoting the "three to one down and one to complement", can not be because of the heavy burden of waiting, the difficulties of the inaction, there are risks and avoidance, and there are the pains of not forward. not forward.
The meeting listened to the National Development and Reform Commission, the State Council State-owned Assets Supervision and Administration Commission, the Ministry of Housing and Urban-Rural Development to promote the supply-side structural reform of the relevant work program, listened to Jiangsu, Chongqing, Hebei, and Shenzhen to promote the supply-side structural reform of the situation of the report, listened to the National Development and Reform Commission, the Ministry of Finance, the Ministry of Human Resources and Social Security on the work of expanding middle-income groups report. Members of the leading group held a discussion.
Deepening reforms in the fields of price, finance and taxation, and social security
****** pointed out that after the CPC Central Committee made the decision to push forward the supply-side structural reforms, the awareness of all regions and departments has been increasing, and they are taking the initiative to carry out the work, and the relevant departments have introduced a number of policies and measures, and many regions have formulated comprehensive and special programs, and the results have been gradually seen, which have contributed to the promotion of economic and social development. The results have gradually appeared, contributing to the promotion of economic and social development. At the same time, some policies and measures need to be further studied and formulated, some places have not yet acted vigorously, and some work is still not precise.
****** pointed out that the supply-side structural reform is related to the overall situation, the relationship between the long-term, we must effectively grasp. To y understand the context of the times, the current economic development of China's cyclical and aggregate problems, but the most prominent structural problems, the main aspect of the contradiction in the supply side. To accurately grasp the basic requirements, the fundamental purpose of the supply-side structural reform is to improve the quality of supply to meet the needs of the supply capacity to better meet the people's growing material and cultural needs; the main direction of attack is to reduce ineffective supply, expanding the effective supply, and improve the adaptability of the supply structure to the structure of the demand structure, and the current focus on the promotion of the "three to one down and one to complement" five major tasks. "Five major tasks; the essential attribute is to deepen the reform, promote the reform of state-owned enterprises, accelerate the transformation of government functions, and deepen the basic reform of price, taxation, finance, social security and other areas.
****** emphasized that to play a good market and government role, on the one hand, follow the laws of the market, good use of market mechanisms to solve problems, on the other hand, the government should be courageous to take responsibility for the various departments at all levels of local government should be courageous to take responsibility for the work, do a good job of their own to do. To break through the key difficulties, adhere to the theory of focus, focus on the attack, to lead the way. To do the work in detail, targeted policy development, to solve the problem; specific work from the practical point of view, staring to see, someone to manage, immediately dry. To balance the relationship between the various aspects, grasp the rhythm and strength, pay attention to reduce the risk of hidden trouble.
Guarantee that all kinds of factor inputs are rewarded
****** emphasized that the expansion of the middle-income group, the relationship between the realization of the goal of building a moderately prosperous society in all aspects, is the inevitable requirements of the transformation of the mode of adjustment of the structure, and the maintenance of social harmony and stability, the country's long-term stability and security of the inevitable requirements. Expanding the middle-income group, must adhere to the quality and efficiency of development, to maintain macroeconomic stability, for the improvement of people's lives to lay a more solid foundation; must carry forward the spirit of hard work and wealth, to inspire people to create a better life through labor;
must improve the income distribution system, adhere to the distribution of income according to the main body of the distribution of a variety of distribution methods coexisting system, the distribution of distribution according to the distribution of income according to the work of the factors of production, combined, deal with the government, enterprises, the government and the enterprise, and the distribution of the production factors. We must strengthen human capital, increase investment in human capital, focus on improving the quality of education, and build a modern vocational education system;
We must play the role of entrepreneurs, help enterprises resolve difficulties and confusions, and ensure that all kinds of factor inputs are rewarded;
We must strengthen the protection of property rights, improve the modern property rights system, and strengthen the control of state-owned assets and property rights.
It is necessary to strengthen the protection of property rights, improve the modern property rights system, strengthen the protection of state-owned assets ownership, operation rights, corporate property rights, strengthen the protection of property rights of the non-public economy, strengthen the protection of intellectual property rights, and enhance the sense of security of the people's property.
How is the middle-income group defined?
Su Hai Nan, vice president of the Chinese Society of Labor, introduced that there are many definitions of middle-income groups, and the internationally accepted standard is that the income is in the social average income or median income and its vicinity of the interval of the workers.
China attaches great importance to expanding the middle-income group. The Third Plenary Session of the 18th Central Committee proposed to standardize the order of income distribution, improve the institutional mechanism and policy system for regulating and controlling income distribution, increase the incomes of low-income earners, expand the proportion of middle-income earners, and strive to narrow the gap between urban and rural areas, regions, and industries in the distribution of income, so as to gradually form an olive-shaped distribution pattern.
The key to forming an olive-shaped distribution pattern is to allow the middle-income group to continue to expand. China (Hainan) Institute for Reform and Development President Chi Fulin believes that the continued expansion of middle-income groups, is to release the potential for consumption, expanding domestic demand, the construction of the "olive" society is an important foundation. Previously, Chi Fulin proposed that the middle-income group should be doubled as a national strategy, based on the overall program of income distribution reform, the development of special national planning.
In 2013, China issued the "Opinions on Deepening the Reform of the Income Distribution System", one of the important goals is to continue to expand the middle-income group, "olive-shaped" distribution structure gradually formed. This year's government work report also makes it clear that improving the income distribution system, narrowing the income gap, and increasing the proportion of middle-income people.
In recent years, the social income gap has gradually narrowed, the size of the middle-income group continues to expand, but towards the "olive" distribution structure still has room for strength. Su Hai Nan said, expanding the middle-income group focus and difficulty is: on the one hand, to make the low-income group into the middle-income group, on the other hand, to let the existing middle-income workers do not because of a variety of reasons to fall back into the low-income group.