The hottest series of measures to stabilize growth

2022-09-21
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A series of steady growth measures escort China's slow and stable economic growth

a series of steady growth measures escort China's slow and stable economic growth

China Construction machinery information

Guide: the executive meeting of the State Council on the 12th identified eight policies and measures to promote the steady growth of foreign trade. Previously, the national development and Reform Commission approved a number of airport and hydropower construction projects, urban rail transit project construction planning, regional highway engineering projects and sewage treatment projects, with an investment of more than 1 trillion yuan. How

the executive meeting of the State Council on the 12th identified eight policies and measures to promote the steady growth of foreign trade. Previously, the national development and Reform Commission approved a number of airport and hydropower construction projects, urban rail transit project construction planning, regional highway engineering projects and sewage treatment projects, with an investment of more than 1 trillion yuan. How to view the current economic situation and a series of measures to stabilize growth? Fan Jianping, director of the Economic Forecasting Department of the National Information Center, said that "slowing down and stabilizing" was not easy

when talking about the macroeconomic regulation and control situation in the past eight months, Fan Jianping evaluated it with "slowing down and stabilizing". He believes that the current major economic indicators and the removal of residues in the oil tank are within the expected control range, and this achievement has not come easily. Since October last year, fine-tuning and pre adjustment and other measures to stabilize growth have contributed greatly

"after nine consecutive quarters of decline, China's economy grew by 7.6% in the second quarter, and is expected to reach 7.6% - 7.8% in the third quarter and 7.7% - 7.8% in the whole year." He said

according to Fan Jianping, the relevant departments had a premonition about the changes in the domestic and international environment this year when formulating annual goals, and also took a series of measures to prevent these adverse factors. At the same time, since the fourth quarter of last year, China has continuously strengthened its pre adjustment and fine-tuning policies

"since the beginning of this year, in order to promote investment, relevant departments have accelerated the approval of investment projects. At the same time, the implementation of funds for projects under construction has also done a lot of work for hardened steel ball HBS or cemented carbide ball HBW. These measures have played a counter cyclical role in the economic downturn."

he said that infrastructure investment fell by 2.7% in the first quarter of this year, and with the introduction of pre adjustment and fine-tuning policies, infrastructure investment increased by 4.4% in the first half of this year. "If the real estate investment falls and the infrastructure investment (falling trend) does not reverse, then the economic growth rate (in the first half of the year) will slip out of our expected target range"

he said that investment projects have inertia in the implementation, and the amount of investment was small at the beginning of construction. In the second year, the amount of investment will increase significantly, and the pulling effect on the economy will be further reflected

the employment and consumption situation remained stable

in Fan Jianping's view, there were two good phenomena in China's economic and social development in the first half of this year, namely, employment and residents' consumption remained basically stable. "This has a lot to do with the country's stable employment and the introduction of relevant income distribution measures"

until it reached the limit on the right hand side of the instrument, he said that in October last year, it increased by 22.35.1 compared with the previous year. (1) since January, the state has issued a package of policies to support small and medium-sized enterprises in finance and finance, reducing and exempting many taxes and fees, especially canceling some administrative charges. For the difficulties of small and medium-sized enterprises, the state has also taken a series of countermeasures. These measures have played a positive role in stabilizing employment, and there has been no large-scale return of migrant workers

in the case of economic downturn, residents' consumption has not been greatly affected. In January, affected by the decline in prices, the total nominal retail consumption was lower than last year. However, excluding price factors, the actual growth rate of total retail sales increased by 0.1 percentage points year-on-year, and the actual purchasing power was flat or slightly recovered

"in the case of sluggish car sales and sluggish consumption of household appliances, furniture and decoration, consumption can remain stable, which is the role of the policy of expanding consumption"

the state has raised the pension standard for retirees, and some places have also raised the minimum wage standard in succession. Since last year, the actual growth rate of urban and rural residents' income has slightly exceeded the growth rate of GDP, and the "12th Five Year Plan" has put forward the goal of synchronizing the growth rate of urban and rural residents' income with economic growth

"it is the steady increase in income that leads to the relatively stable trend of consumption, which is an important factor supporting the economy within the expected range." He emphasized

don't blindly pursue double-digit growth

for some bearish remarks about China's economy at home and abroad, Fan Jianping said that compared with the effect of the previous round of economic stimulus plan, "some people feel that (the current economic growth rate) is not satisfying. The last time the economy quickly rebounded in a V-shape, this time it seems that we haven't seen the rebound momentum of economic growth, or that the policy effect is not so obvious."

"but I think this may be a new macro-control effect of the full combination of 'steady growth' and 'structural adjustment' in this round." He said

he believes that in the short term, compared with the high-speed growth in the past period, China's economic growth may run at a relatively low level for a period of time. However, this period of time is a good time to make positive progress in structural adjustment and mode transformation

he said that if the current economic growth rate can be stabilized, at the same time, there are no major problems in employment, people's consumption is relatively stable, and the income growth rate will exceed the GDP growth rate, the quality of economic growth will be better. "At this stage, blindly pursuing economic growth to return to double-digit growth as soon as possible is not the best choice for our macro-control."

pay more attention to benefiting people's livelihood and adjusting structure

"this macro-control is significantly different from the last 'maintaining growth'." Fan Jianping said. The last round of "maintaining growth" implemented active fiscal and monetary policies. This time, macro-control should not only stabilize growth, but also prevent house prices from rebounding, which is difficult to operate. We should grasp the strength and combine steady growth with structural adjustment

"we should not eliminate backward production capacity just because of 'steady growth'. We should make good use of this opportunity and use the market forcing mechanism to eliminate some backward production capacity."

At the same time, the state has combined the current policies and measures to stabilize growth with long-term economic growth points and adopted a series of measures to expand domestic demand. When arranging investment projects, we should pay more attention to promoting consumption, benefiting people's livelihood and environmental protection

he said that compared with investment, consumption is China's weakness. The previous investment projects served more production and less consumption. Among the investment projects approved this time, more than 20 rail projects serve the travel of ordinary people. Among them, intercity rail transit project is an important means to develop urban agglomerations and metropolitan areas. The project itself can be profitable and also serve the travel of people. As for the subsidy policy for energy-saving household appliances issued by the state, it is also to promote the consumption of energy-saving products, which can not only expand domestic demand, but also benefit people's livelihood and save energy

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