The National Development and Reform Commission interprets that the current trend of economic hotspots rebounding and improving is expected to continue
2024-11-20
How do you view the current economic situation? How effective are macro policies? What new measures have been taken to promote the development and growth of the private economy? On November 19th, at the press conference of the National Development and Reform Commission, Li Chao, Deputy Director and spokesperson of the Policy Research Office of the National Development and Reform Commission, gave an in-depth interpretation of current economic hot topics. The positive factors in economic operation continue to increase. In September, multiple economic indicators in China showed marginal improvement, and in October, major economic indicators further improved. The positive factors in economic operation continue to increase. At the meeting, Li Chao analyzed the current economic situation. From a supply perspective, the agricultural production situation is good, and it is expected that this year's grain output will exceed 1.4 trillion catties for the first time. In October, the added value of manufacturing industries above designated size increased by 5.4% year-on-year, accelerating by 0.2 percentage points compared to the previous month. In October, the service industry production index increased by 6.3% year-on-year, 1.2 percentage points faster than the previous month, which is also the highest growth rate of the service industry production index this year. From the perspective of demand, the policies of "dual" (implementation of major national strategies and construction of security capabilities in key areas) and "two new" (large-scale equipment updates and trade in of consumer goods) continue to exert efforts, continuously releasing consumption potential and driving investment growth. In October, the growth rates of infrastructure investment, manufacturing investment, and total retail sales of consumer goods all accelerated, with exports denominated in RMB increasing by 11.2% year-on-year, an increase of 9.6 percentage points from the previous month. From expectations, the stock market and real estate market transactions are becoming more active. In October, the total transaction volume of newly-built and second-hand houses in China increased by 3.9% year-on-year, achieving growth for the first time after eight consecutive months of decline. The daily average transaction volume of the Shanghai and Shenzhen stock markets reached 1.98 trillion yuan, an increase of nearly 150% compared to the previous period. These data indicate that market confidence has been boosted and business expectations have improved. At the same time, the manufacturing PMI index and the service industry business activity index have returned to the expansion range, indicating that the willingness of enterprises to produce and invest is increasing. With the continuous effectiveness of existing policies, the effective implementation of incremental policies, and the continuous release of policy combination effects, the economic operation in November and December is expected to continue the upward trend since October Li Chao believes that looking ahead to 2025, there are still many favorable conditions and supporting factors for China's economic development. From the perspective of development momentum, further comprehensive deepening of reforms will continue to stimulate the endogenous driving force and innovation vitality of the whole society, and cultivating new quality productive forces will form more new growth points; From the perspective of market space, China's super large scale market has obvious advantages, and there is still a huge market demand that needs to be released; From the perspective of policy support, next year will be the final year of the 14th Five Year Plan, and a series of major strategic tasks, major reform measures, and major engineering projects are being fully implemented and effective. At the same time, we have ample policy space and rich policy reserves. Tools such as precise regulation and countercyclical regulation are constantly improving, and the consistency of macro policy orientation is constantly increasing. The integration and precise implementation of macro policy systems will strongly support the stable and healthy development of the economy Li Chao believes that overall, the basic trend of China's economic recovery and long-term improvement has not changed. The National Development and Reform Commission has strengthened coordination since nearly 300 detailed rules for the implementation of the "two new" policies were issued in various fields. Up to now, the National Development and Reform Commission has promoted nearly 300 detailed rules for the implementation of the "two new" policies in various fields, continued to play a leading role in the funding of ultra long term special treasury bond, and worked hard to stimulate new quality of life, new industrial momentum, and new market vitality with the "two new" policies. "At the meeting, Li Chao introduced the implementation of the" two new "policies from three aspects. Better serve consumer needs. The National Development and Reform Commission has urged all regions to make good use of 150 billion yuan of ultra long-term special treasury bond funds to support consumers' demand for more high-quality, intelligent and environmentally friendly products. In actual operation, the maximum compensation can be 20% for household appliances and 20000 yuan for automobiles. From the data, the "replacement" policy has driven the continuous recovery of home appliance sales, with sales of household appliances and audio-visual equipment increasing by nearly 40% year-on-year in October; Consumers prefer energy-saving products, and preliminary statistics show that sales of first level energy-efficient household appliances account for as much as 90% in the "trade in" campaign. Assist in the transformation and upgrading of industries. The equipment update policy focuses on seven key areas including industry, agriculture, construction, education, transportation, cultural tourism, and healthcare. Relevant departments have allocated 150 billion yuan of ultra long term special treasury bond funds to projects directly, and issued 112 standards in energy consumption, pollutant emissions, etc., to support enterprises to carry out process upgrading, digital empowerment, and green transformation, and promote the development of industries from "new" to "green". Support the economic recovery and improvement. The "two new" policies are jointly implemented from both the supply and demand sides. On the one hand, supporting enterprises to enhance their product iteration and upgrading capabilities through "updates" and better meet consumer demands. On the other hand, supporting residents to increase consumption through "upgrading" and driving enterprise investment and production expansion, thereby promoting a virtuous cycle of mutual promotion between investment and consumption. In the first 10 months, the national investment in equipment and tools procurement increased by 16.1% year-on-year, contributing more than 60% to investment growth. Next, in the process of promoting the "two new" work, the National Development and Reform Commission will continue to strengthen the supervision of the entire funding chain and promote the rapid formation of physical workloads for projects; Continuously optimize the consumer market environment and strictly investigate behaviors such as "raising prices before discounts" and "false discounts" in accordance with the law; Continuously carry out recycling and reuse work, and carry out special inspections on illegal dismantling of waste electrical and electronic appliances. Multiple measures continue to promote the development of the private economy. Since the beginning of this year, the National Development and Reform Commission and relevant parties have taken multiple measures to continuously promote the development of the private economy. Li Chao introduced from two aspects. On the one hand, it is to continuously improve legal policies. Accelerate the legislative process of the Law on the Promotion of Private Economy and solicit opinions publicly, promote various localities and departments to focus on private investment, fair access, financing support and other policy measures to support the development of private economy. On the other hand, it is to promote the resolution of problem demands. Establish a regular communication and problem-solving mechanism between the national, provincial, municipal, and county levels and private enterprises. The main responsible officials of the National Development and Reform Commission presided over six symposiums for private entrepreneurs, fully listening to the opinions and suggestions of private enterprises. As of the end of October, the National Development and Reform Commission has received 1234 problem demands from private enterprises through various channels, of which 696 have been resolved, and has coordinated and solved some practical problems. From statistical data and relevant situations, the positive factors for the development of the private economy continue to increase Li Chao made a specific analysis: from the perspective of investment, in the first 10 months, private investment in the manufacturing industry increased by 11.4% year-on-year, 2.1 percentage points higher than the growth rate of all manufacturing investment, maintaining a good growth momentum; From the perspective of foreign trade, in the first 10 months, the import and export of private enterprises denominated in RMB increased by 9.3% year-on-year; From the perspective of market vitality, the potential for market consumption is accelerating, and the growth of online retail with a high proportion of private economy is significantly accelerating. Creating a favorable development environment requires continuous and unremitting efforts. Li Chao stated that more practical measures will be taken to provide greater support for private enterprises to participate in major national project construction, improve the policy and system of financing support for private enterprises, and actively create a social atmosphere that cares about and supports the development of the private economy. At the same time, we will continue to fully utilize the normalized communication and exchange mechanism of private enterprises, help solve development problems, and strive to make private enterprises feel and benefit. In addition, the National Development and Reform Commission, together with relevant parties, recently launched the seventh batch of investigations and clean-up of violations of the negative list of market access, and publicly reported 10 typical cases. The problems involved in these cases have been corrected in a timely manner. Next, the National Development and Reform Commission will continue to collect and report cases that violate the negative list of market access as an important task in implementing the market access system and breaking down market access barriers. It will identify, rectify, and report local violations of the market access system, accelerate the cracking of various market access "glass doors," "revolving doors," and "spring doors," and create a more fair and transparent access environment in accordance with laws and regulations. (New Society)
Edit：Yao jue Responsible editor：Xie Tunan
Source：People's Daily
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