The national economic data of the first quarter released recently shows that the growth rate of main indicators is basically stable and the start is generally stable. At present, the world situation is complex and evolving. Domestic epidemics have occurred frequently recently. Some unexpected factors have exceeded expectations, and the economic operation is facing great downward pressure. Adhering to the principle of stability and seeking progress while maintaining stability is the policy guidance for doing a good job in this year's economic work. At the central economic work conference last year, arrangements were made in seven aspects: macro policy, micro policy, structural policy, science and technology policy, reform and opening-up policy, regional policy and social policy. Focus on the word "stability": macro policies stabilize the market Macro policy ranks first among the seven major policies. It is not only an important means to stabilize the economy, but also a "key tool" that China's economy must make good use of in the face of multiple challenges. Fiscal policy and monetary policy are the two major starting points of macro policy. Since the beginning of this year, the fiscal policy has placed "stability" in a prominent position in macro-control, and increased the intensity of fiscal expenditure and countercyclical policies. In Jinan, Shandong Province, the jiluo Road North Extension tunnel crossing the Yellow River under the bridge and tunnel crossing the Yellow River project is under intense construction. Among the local government special bonds issued by Shandong Province this year, about 1 billion yuan of bond funds have been invested in this project. Special debt is an important starting point of fiscal policy this year. Of the 3.65 trillion yuan of new special debt this year, the amount for project construction has been issued; Of the 1.46 trillion yuan quota issued in advance last year, about 1.25 trillion yuan had been issued by the end of March. Financial resources can be used to increase the intensity of security expenditure. This year, the national general public budget expenditure is 26.71 trillion yuan, an increase of more than 2 trillion yuan over the previous year; Central to local transfer payments increased by about 1.5 trillion yuan, with a scale of nearly 9.8 trillion yuan. In the first quarter, the national general public budget expenditure increased by 8.3% year-on-year, with accelerated growth and expenditure, so as to ensure people's livelihood and expenditure in key areas. The Ministry of Finance said that it would stick to the front and speed up the expenditure of financial funds, the issuance and use of special bonds and the release of the central infrastructure investment budget, so as to ensure the early introduction, implementation and effectiveness of policies conducive to activating and increasing power. Give full play to the dual functions of aggregate and monetary policy. Since the beginning of this year, monetary policy has worked hard on the word "stability", focused on the word "progress", enhanced foresight, accuracy and autonomy, and further enhanced its ability to serve the real economy. Maintaining reasonable and sufficient liquidity is equivalent to maintaining the "healthy blood" of macroeconomic operation. At the end of March, China's broad money (M2) increased by 9.7% year-on-year, 0.3 percentage points higher than the same period last year. While the total amount of finance has increased steadily, the credit structure has been continuously optimized. In the first quarter, RMB loans increased by 8.34 trillion yuan, an incremental record. Among them, the loans of enterprises (Institutions) dominated by real economy loans account for more than 80%. Under the precise force of monetary policy, the comprehensive financing cost of enterprises further decreased. On January 20, the quoted market interest rate (LPR) of 1-year and 5-year loans was lowered by 10 and 5 basis points respectively. Since the beginning of this year, the people's Bank of China has guided the continuous decline of market interest rates, driving the enterprise loan interest rate to fall by 0.21 percentage points to 4.4% year-on-year in the first quarter, the lowest since statistics. Recently, various financial instruments have continued to increase their weight, transmitting the signal of steady growth. On April 15, the people's Bank of China announced to reduce the deposit reserve ratio of financial institutions, which will release about 530 billion yuan of long-term funds to further support the development of the real economy and promote the steady decline of comprehensive financing costs. We will increase re loans for agriculture and small expenditure, accelerate the implementation of two carbon reduction tools, and speed up the re loan of 100 billion yuan in the field of transportation and logistics... Recently, structural monetary policy tools such as re loans have made frequent efforts, which is expected to increase the loan of financial institutions by 1 trillion yuan. In addition, the people's Bank of China has stepped up efforts to accelerate the transfer of balance profits to the central government, enhancing the available financial resources. By the middle of April, 600 billion yuan had been turned over, which is equivalent to 600 billion yuan of base currency, which is basically equivalent to the overall standard reduction of 0.25 percentage points. A total of more than 1100 billion yuan of balance profits will be turned over in the whole year. The people's Bank of China said that it will continue to implement a prudent monetary policy, avoid flooding, take into account internal and external balance, stimulate market vitality, support financing in key areas and weak links, and create a suitable monetary and financial environment for high-quality development and supply side structural reform. Implement a "quasi" word: focus on pain points and difficulties to help enterprises rescue Over 150 million market players are the cornerstone of China's economy. The more dynamic the market subject is, the healthier the economic "body" will be. Under the impact of the epidemic, the difficulties faced by market players, especially small, medium-sized and micro enterprises and individual industrial and commercial households, have intensified. In the first quarter, the development index of small and medium-sized enterprises declined, and the indexes of industry, construction, transportation, postal storage, wholesale and retail, accommodation and catering were below the boom threshold of 100. The greater the pressure, the more we should focus on the "urgent difficulties and expectations" of the market subjects. A tax rebate of nearly 3 million yuan was recently refunded to Shanghai Huiduo Hotel Management Co., Ltd. "This has reduced the financial pressure of enterprises all at once." Yalan, general manager of the company, said. The combined tax support policy is being implemented all over the country. It is expected that the scale of tax rebate and reduction in the whole year will reach about 2.5 trillion yuan. From April 1 to 15, 420.2 billion yuan of tax withheld and refunded has been refunded to the accounts of 527000 taxpayers. Focus on the financing problems of enterprises. At the end of March, the balance of Pratt & Whitney small and micro loans and the number of credit households increased by 24.6% and 42.9% respectively year-on-year, and the loan demand of small and micro enterprises was further released. From tax reduction and fee reduction to financial support; From the introduction of a series of policies to promote the smooth development of the logistics industry, focus on a series of difficulties in the development of the financial sector and the recovery of the logistics industry. All localities have introduced more targeted rescue measures according to local conditions: Shenzhen has issued "30 measures" and Hunan has issued "36 measures"; Based on the introduction of "40" measures, Jiangsu has put forward "22" with greater efforts Since March 1 this year, the regulations of the people's Republic of China on the administration of market subject registration have been implemented to accelerate the standardization of national registration business and reduce the institutional transaction costs of market subjects. According to Liu Junhai, a professor at the Law School of Renmin University of China, focusing on relaxing market access, continuously optimizing the business environment and improving modern market supervision will further stimulate market vitality and social creativity. The reporter learned that all localities and departments are stepping up research on more targeted policies around the "urgent need" and "Hope" of market subjects. Only by eliminating the pain points and difficulties and improving the development environment can market players tide over the difficulties and "green mountains always exist". Focus on a "smooth" word: open up the blocking point and make accurate force The effective demand is insufficient, the endogenous power of investment is not strong, the purchase area of real estate land decreases, the "neck sticking" problem in some industries is prominent, and the spread of the epidemic has seriously affected the smooth flow of people and logistics in some provinces Some of these are long-standing "weaknesses" and some are recent difficulties. We must rely on the "acupoint" precise force of structural policies in order to open up supply and demand, connect domestic and foreign countries, and unblock the upstream and downstream of the industrial chain supply chain. —— We will continue to deepen supply side structural reform. On the one hand, encourage enterprises to apply advanced technology and speed up the research and industrialization of key core technologies; On the one hand, we should strengthen technological transformation and equipment upgrading, better meet the needs of investment and consumption upgrading, and promote the upgrading of traditional industries. Various policies are being implemented and effective. In the first quarter, the national investment in high-tech industry increased by 27% year-on-year, of which the investment in high-tech manufacturing and high-tech service industry increased by 32.7% and 14.5% respectively. —— Enhance the core competitiveness of the manufacturing industry. In March, small, medium-sized and micro enterprises in the manufacturing industry delayed the payment of taxes and fees by 256.7 billion yuan, basically covering all tax declaration households of small, medium-sized and micro enterprises in the manufacturing industry; Increase financial support for small and medium-sized enterprises and broaden the financing channels of "specialized and special new" enterprises; National "little giant" enterprises are ready to cultivate more than 3000 more... Since this year, in the face of new economic downward pressure, relevant departments and local governments have worked together to solve the practical difficulties faced by manufacturing enterprises from the two aspects of relief and excellence. —— Accelerate the formation of a safe and efficient logistics network with internal and external connectivity. In view of the current epidemic situation and poor logistics, the national teleconference on ensuring smooth logistics and promoting the stability of the industrial chain supply chain clearly requires that the working and living conditions of logistics employees should be improved and financial support such as delayed repayment of loans should be given, sufficient national unified passes should be issued and used, the nucleic acid test results should be mutually recognized within 48 hours, and the closed-loop management of "pick and go and chase" should be implemented, and the passage should not be restricted on the grounds of waiting for the nucleic acid results. Tackle key problems one by one and solve outstanding problems in key areas. Strive to stabilize the industrial chain and supply chain. —— Promote a virtuous circle and healthy development of the real estate industry. The real estate industry has a large scale, long chain and wide coverage, which plays an important role in the national economy. Adhering to the principle of "housing without speculation", stabilizing land prices, house prices and expectations are the focus of the current real estate policy. In the first quarter, the investment in real estate development increased by 0.7% year-on-year, the sales area of commercial housing decreased by 13.8%, and the sales decreased by 22.7%. Supply growth slowed and demand expectations weakened. In response to new situations and challenges, all localities have made corresponding adjustments due to urban implementation policies to support the demand for the first rigid house purchase, reasonable improvement and rental housing. Banks in more than 100 cities cut mortgage interest rates independently; Some cities will raise the upper limit of housing provident fund loans for families with two or three children who buy their first house. Highlight a "new" word: Science and technology policy to enhance "hard power" On April 16, the return module of Shenzhou 13 manned spacecraft successfully landed at the Dongfeng landing site, and the three astronauts who had been on mission for half a year successfully exited the module. This year, China will also complete the on orbit construction of the space station and plan to carry out six missions. Scientific and technological innovation plays a strategic supporting and leading role in national economic and social development. Under the changing situation of a century, scientific and technological innovation is not only the "key variable", but also the "maximum increment" of high-quality development. Scientific and technological innovation is a systematic project, which requires both a breakthrough in some aspects and an improvement in all aspects; We should not only pay attention to scientific research institutes, but also ignore the main body of market innovation. Since the beginning of this year, all departments have made a "combination fist" to promote the solid implementation of science and technology policies—— Implement the three-year action plan for the reform of the scientific and technological system, and formulate and implement the ten-year plan for basic research; Strengthen the national strategic scientific and technological force; Strengthen the main position of enterprise innovation; Improve and optimize the ecology of scientific and technological innovation; Continue to carry out international scientific and technological cooperation A number of policy packages have been issued one after another—— Increase the proportion of R & D expenses plus deduction of science and technology-based small and medium-sized enterprises from 75% to 100%; The retention, deduction and refund of value-added tax have been significantly increased; For the annual taxable income of small and micro enterprises ranging from 1 million yuan to 3 million yuan, the enterprise income tax will be halved Recently held