Development And Reform Commission: Questions And Suggestions On Encouraging And Guiding The Healthy Development Of Private Investment

1, since the reform and opening up, China's private investment has made considerable progress. What is the purpose and significance of issuing several opinions under the current situation?

A: since the reform and opening up, China's private investment has been growing and growing, and its proportion in the fixed assets investment of the whole society has increased year by year. It has become an important force to promote the development of the national economy, an important pillar of the state's fiscal and tax revenue and the main channel to create social employment.

According to preliminary statistics, from January 2009 to November, private investment accounted for 56.4% of investment in fixed assets in cities and towns.

How to regulate, guide and develop private investment and give full play to its positive role is an important issue facing investment management.

A number of opinions comprehensively implement the policies and measures of the CPC Central Committee and the State Council on encouraging and promoting the development of the non-public sector of the economy. In light of the actual needs of the current international financial crisis, we have systematically put forward policies and measures to encourage and guide the healthy development of private investment in terms of expanding the market access, promoting pformation and upgrading, participating in international competition, creating a good environment, strengthening service guidance and regulating management. It is the first comprehensive policy document specifically directed at the development, management and regulation of private investment since the reform and opening up. The introduction of a number of opinions is an urgent need to tackle the international financial crisis and stabilize the sustainable development of the economy. It is also a long-term policy to uphold and improve the basic economic system in the primary stage of socialism and improve the socialist market economic system.

From the current point of view, the introduction of "a number of opinions" is an important part of enriching and enriching the package of international financial crisis. It is conducive to further stimulate the endogenous driving force and vitality of economic development and consolidate the momentum of economic recovery.

In 2009, in the face of the severe impact of the international financial crisis, the CPC Central Committee and the State Council assessed the situation and responded calmly, and promptly introduced and constantly improved the package plan to deal with crisis and promote development. In the two years, the central government's new investment of 1 trillion and 180 billion yuan was introduced to drive the total investment of 4 trillion. China's economy has been the first to achieve overall recovery in the world.

In this process, government investment has played an irreplaceable role in stabilizing the confidence of the whole society, stimulating investment and stabilizing the economy, and has laid a good foundation for the long-term development of the economy.

However, in the process of market-oriented reform and development, it is far from enough to rely solely on government investment and credit growth to stimulate economic development. In addition to stimulating investment and increasing investment ability, we should pay more attention to the formation of endogenous driving mechanism for economic development.

2010 is the key year to consolidate the good trend of economic recovery. It is also an extremely complex year of economic situation. While maintaining a certain range and intensity of government investment, it is necessary to pay more attention to taking effective measures to fully start the private investment, turn the advantages of private savings into the endogenous impetus and vitality of investment growth, form the endogenous mechanism to promote the sustainable economic development, and promote the stable and rapid economic development.

In the long run, it is an important strategic task to adhere to and perfect the basic economic system of the primary stage of socialism and to perfect the socialist market economic system by introducing a number of opinions and further encouraging and guiding the healthy development of private investment.

The Sixteen Party of the party clearly stated that it must unswervingly consolidate and develop the public ownership economy, and must unswervingly encourage, support and guide the development of the non-public economy.

Encouraging and guiding the healthy development of private investment is conducive to upholding and improving the basic economic system in the primary stage of socialism at the primary stage of socialism with the public ownership as the main body and the diversified ownership economy developing together, and developing the mixed ownership economy based on the modern property rights system, and promoting the equal competition and common development of all kinds of ownership and economy.

Encouraging and guiding the healthy development of private investment is conducive to improving the socialist market economic system, giving full play to the fundamental role of market allocation of resources and establishing a fair competition market environment.

2. What are the difficulties and obstacles in the development of private investment? What policies and measures have been put forward by a number of opinions?

A: during the drafting process of some opinions, we conducted special investigations on the difficulties and obstacles restricting the development of private investment. According to the survey, there are four main problems: first, there are many obstacles to the entry of industries.

Especially in some traditional monopolistic industries and fields, there still exist the problem of "glass door" or "spring door" which restricts the entry of private investment.

Two, the problem of financing has not been fundamentally solved. Under the influence of the international financial crisis, bank credit is more invested in big projects and big enterprises, and the financing difficulty of SMEs is more prominent.

Three, the ability and level of private investment need to be improved.

The pace of investment pformation and upgrading of private enterprises needs to be accelerated, and the innovation capability needs to be improved. The management level of private investment needs to be improved as a whole.

Four, the policy environment of private investment needs to be improved continuously, and the service system needs to be further improved and perfected.

In response to these difficulties and problems, a number of opinions put forward four policy measures.

First, we should further expand the scope and scope of private investment.

We should encourage and guide private capital to enter the fields of basic industries and infrastructure, municipal public utilities and policy oriented housing construction, social undertakings, financial services, commerce and circulation, national defense science and technology industries, etc.

Two, we should encourage and guide the reorganization of private capital and participate in the reform of state-owned enterprises.

Through participation, holding, asset acquisition and other ways, it will take part in the restructuring and reorganization of state-owned enterprises.

Support qualified private enterprises to become bigger and stronger through joint reorganization.

Three is to promote private enterprises to strengthen their own innovation and pformation and upgrading.

Support private enterprises to participate in major national science and technology projects and technical tackling problems, and help private enterprises to establish engineering technology research centers and technology development centers, and continuously improve their technological level and R & D capability.

Encourage private enterprises to increase the development of new products, develop strategic emerging industries, and actively participate in international competition.

Four, we should establish and improve the private investment service system, strengthen services and guidance, and create a favorable environment for private investment.

To clean up and modify regulations and policies that are not conducive to the development of private investment, to clean up and integrate administrative examination and approval matters involving private investment management, and to support private enterprises' products and services into government procurement catalogues.

While opening up market access, we should conscientiously strengthen supervision.

3, compared with the relevant policies and measures promulgated by the State Council to encourage and promote the development of private investment, what aspects have some breakthroughs in certain opinions?

A: for a long time, the CPC Central Committee and the State Council have attached great importance to encouraging and guiding private investment and promoting the development of non-public sectors of the economy.

In order to solve the problem of restricting the development of private investment, such as the constraints of traditional ideas, market access and financing difficulties, and the insufficient protection of legitimate rights and interests, governments at all levels and relevant departments have done a lot of work in policy formulation and practical work.

In 2005, the State Council issued a number of opinions on encouraging and supporting the development of the private sector and other non-public sectors of the economy (Guo Fa [2005]3), which comprehensively and systematically put forward 36 policy provisions to promote the development of the non-public sector of the economy. It is commonly known as the "36 non-public sectors of the economy" and played a very positive role in promoting the development of private investment.

However, for various reasons, some policies and measures in the "36 aspects of the non-public sector" have not yet been put into place.

In terms of market access, "36 non-public sectors" clearly stipulate that industries and fields that allow foreign investment to enter the country also allow domestic non-public capital to enter. However, according to the survey of relevant parties, 62 sectors of the more than 80 sectors of the whole society are allowed to enter foreign capital, and only 41 people are allowed to enter private capital.

The proportion of private investment in traditional monopoly industries and fields is very low. According to statistics, 13.6% of the electricity and thermal production and supply industries account for 12.3% of the total education, accounting for 11.8% of the health, social security and social welfare industries, accounting for 9.6% of the financial industry, accounting for 7.8% of the information pmission, computer services and software industry, accounting for 7.5% of the pportation, warehousing and postal services, accounting for 6.6% of the management in water conservancy, environment and public facilities, accounting for 5.9% of the public management and social organizations.

To this end, a number of opinions will break down and dismantle the phenomenon of "glass doors" and "spring doors" in the development of private investment. In light of the difficulties in access to the above industries and fields, we will further clarify and refine the policies and regulations for relaxing market access in documents such as the 36 article of non-public sectors, and put forward a series of policies and measures to encourage private capital to enter relevant industries and fields, including specific scope, way and policy guarantee, and strive to enhance operability and enhance the execution power of documents.

First, we have defined the general requirements for further widening the scope of private investment access.

We should thoroughly implement the 36 item of the "non-public economy", deepen the reform and opening up of the traditional monopoly industries and fields, standardize the setting of investment access threshold, clearly define the scope of government investment, further adjust the layout and structure of the state-owned economy, and take the private social undertakings as an important supplement to the development of social public utilities, encourage and guide private capital to enter industries and areas where laws and regulations do not explicitly prohibit access, and create a broader market for private capital.

The two is to clarify the specific industries and fields that encourage and guide private capital to enter.

We should encourage and guide private capital to enter the fields of pportation, telecommunications, energy infrastructure, municipal public utilities, national defense science and technology industry and affordable housing construction, and set up financial institutions, invest in trade and circulation industry, and participate in the development of culture, education, sports, medical and social welfare undertakings.

Three, we put forward specific ways and ways to encourage private investment.

It mainly includes tendering, contracting, leasing, pfer of property rights or management rights, participation in reorganization and restructuring, etc.

Four, we have put forward measures to encourage private investment to enter the country by promoting the system reform, improving the charging compensation mechanism, implementing government subsidies and government procurement, giving credit support and land protection.

4, to adapt to the objective needs of economic restructuring and the development of economic globalization, what measures and requirements have been put forward by some opinions to the development of private investment?

A: from the absolute point of view, China's private investment has made considerable progress, but from the perspective of investment structure, there is still much room for improvement in private investment.

According to statistics, the investment fields are mainly concentrated in the downstream industries such as wholesale and retail, accommodation and catering, residential services and other services and manufacturing industries. At the same time, a large number of high-energy consumption, high pollution, low technology and low level production capacity are mainly concentrated in the private economy.

The task of changing the way of development of private enterprises is heavier and more urgent. It can be said that without the healthy development of private investment, it is difficult to achieve the goal of changing the mode of economic development and optimizing the industrial structure.

Encouraging and promoting economic restructuring of private investment is a new development opportunity for private economy and an important strategic task for ensuring the sustainable development of private economy.

To this end, a number of opinions put forward that one is to optimize the organizational structure of private enterprises.

We should guide and encourage private enterprises to carry out cross regional and cross industry mergers and acquisitions through the combination of property market and private capital, and encourage and guide private enterprises to participate in the restructuring and reorganization of state-owned enterprises through participation, holding and asset acquisition.

The two is to promote technological innovation and application of private enterprises.

We should encourage private enterprises to increase R & D investment, improve their capability of independent innovation, master core technologies, and accelerate the implementation of incentive policies to facilitate the pformation of scientific and technological achievements, so as to facilitate the pfer and purchase of advanced technology by private enterprises.

The three is to strengthen the adjustment of product structure of private enterprises.

Encourage private enterprises to increase the intensity of new product development, achieve product upgrading, and develop new product development and development costs to enjoy relevant tax preferences.

Four, we should encourage and guide private enterprises to develop strategic emerging industries.

It is widely used in information technology and other high and new technologies to pform and upgrade traditional industries, vigorously develop circular economy and green economy, and invest in new industries with potential for development.

At the same time, encouraging and guiding private enterprises to actively participate in international competition is an important aspect to promote the development of private investment.

With the development of economic globalization and the development and expansion of private enterprises' strength, private investment has made great progress in actively participating in international competition.

According to statistics, the proportion of private enterprises and operating revenue in the top 500 Chinese enterprises has increased from 13.8% and 5.6% in 2003 to 20.8% and 9.2% in 2009 respectively.

HUAWEI, ZTE, Lenovo, Wanxiang and other private enterprises have become multinational enterprises with independent intellectual property rights, independent brands and strong international competitiveness. Private enterprises' vision and ability to carry out pnational operation and global allocation of resources are becoming increasingly apparent. A considerable number of private enterprises have become the conditions for becoming internationally competitive enterprises.

To meet the requirements of this development, several opinions put forward that we should support private enterprises in carrying out international operations, developing strategic resources and establishing international sales networks in R & D, production and marketing, and supporting private enterprises to exploit their own brands, independent intellectual property rights and self marketing, to develop international markets, to speed up the cultivation of pnational enterprises and internationally famous brands, and to support the formation of consortium among private enterprises, between private enterprises and state-owned enterprises, to give full play to their respective advantages and jointly carry out various forms of overseas investment.

In March 2010, Geely formally signed a contract with the Ford Motor Company of the United States for $1 billion 800 million to buy Volvo's Ford car. The acquisition of full equity, the acquisition of full brand and the acquisition of the whole system for Volvo car company were typical cases of overseas mergers and acquisitions of private enterprises, and made a solid step for "Geely" to move from "domestic famous brand" to "international brand", and raised the strategy of "going out" of private enterprises to a new height.

At the same time, a number of opinions clearly require the improvement of overseas investment promotion and guarantee system, and actively carry out "economic diplomacy".

5, there is a saying in society that "grass roots economy needs grassroots finance". How do you comment on that? What are the provisions of some opinions?

A: the issue of private investment and financing is a global problem. It is still prevalent in different countries around the world. It has been difficult to solve effectively for a long time. This problem also exists in China, which is more prominent under the impact of the international financial crisis.

According to the survey, although the state has taken a series of measures to solve the problem of private investment and financing, it has achieved considerable results. However, the problem of private investment is still outstanding. It is mainly manifested in the following aspects: direct financing is very difficult, bank credit is still the main financing channel; in bank credit, the new loans of banks are mainly concentrated in the relatively large scale enterprises in small and medium-sized enterprises.

In 2009, the central economic work conference proposed that we should "establish and improve the financial services system for small enterprises" and "solve the financing difficulties of small enterprises".

At present, there are two ways to solve the difficulty of financing private investment, especially the financing difficulties of small enterprises. First, we should improve the existing financial policies and increase the credit proportion of large and medium-sized banks to private investment.

In response, the people's Bank of China and the Banking Regulatory Commission have issued a number of guiding opinions and policies and measures to encourage and guide bank financial institutions to further improve the guiding opinions of financial services for small and medium-sized enterprises, formulate specialized performance appraisal and reward and punishment mechanisms, continuously innovate SME credit products, and guide commercial banks to grant loans to small and medium-sized enterprises.

Two, we should increase the number of financial institutions and vigorously develop various financial services franchisees for SMEs.

The shortage of financial institutions and the lack of single structure, especially the serious shortage of small and medium-sized financial institutions, are the main reasons leading to the difficulties of private investment financing. In the long run, they do not meet the requirements of sustainable economic development.

Therefore, vigorously developing and developing small and medium-sized financial institutions in line with the idea of "financial products size, financial services sub object, and financial institutions at different levels" is the fundamental way and long-term solution to solve the financing difficulties of SMEs, that is to say, "grassroots economy needs grassroots finance".

At the same time, we need to emphasize that "grassroots finance needs a grass-roots economy" to relax the restrictions on financial institutions.

6, according to your introduction,

A: at present, there are some areas for improvement in the development environment and quality of private investment, including the lack of smooth channels for policy and information guidance, lagging behind in the construction of market service system, insufficient protection of legitimate rights and interests, and further policy and administrative obstacles. Financial and financial support fails to fully reflect fair treatment. Private investment has a relatively weak sense of normative integrity and sense of social responsibility.

The existence of these problems restricts the promotion of private investment ability and level, and affects the enthusiasm of private investment.

In order to eliminate these abuses effectively, a number of opinions have made specific provisions in three aspects.

First, improve management and implement the fair treatment of private investment and other investors.

Clearing and modifying regulations and policies that are not conducive to the development of private investment.

We should increase financial and financial support. When arranging all kinds of government funds, we should treat all kinds of investment entities including private investment equally, increase the financing support for private investment, innovate and flexibly apply various financial instruments, constantly improve the financing guarantee system of private investment, improve the venture capital mechanism and develop equity investment funds.

We should comprehensively clean up and integrate administrative examination and approval matters involving private investment management, simplify links and improve efficiency.

Two is to strengthen service guidance and create a good investment environment.

We should strengthen statistics, monitoring and analysis of private investment, rationally guide private investment, strengthen investment information platform construction, and timely release information to the public on national industrial policies, development and construction plans, market access standards and industry dynamics at home and abroad, so as to guide private investors to correctly judge the situation and reduce blind investment.

A private investment service system combining government services with socialization and market-oriented services should be established and improved.

We should actively foster and develop intermediary organizations providing legal, policy, consultative, financial, financial, technological, managerial and market information services for private investment.

Three is to strengthen the standard guidance and improve the overall quality of private enterprises.

While relaxing market access, the government must strengthen supervision over private investment, regulate private investment behavior, strengthen self regulatory capacity building, and improve the level of meticulous management.

A number of opinions stipulate that private investment entities should be guided to carry out investment and construction procedures in accordance with the law, establish standardized property rights, financial and employment systems, guide private enterprises to assume corresponding social responsibilities, establish integrity awareness and sense of responsibility, create favorable public opinion atmosphere conducive to healthy development of private investment, and actively publicize outstanding private entrepreneurs' conscientious social responsibility and advanced deeds of participating in public welfare undertakings.

7, all sectors of society are very concerned about whether or not some opinions can be truly implemented. Can you talk about some considerations in this regard?

Answer: whether or not some opinions can be truly implemented is indeed the focus of attention of relevant parties, especially private entrepreneurs. It is also a key issue we are trying to solve in the drafting process.

According to the survey, at present, in terms of legal regulations and policy requirements, the scope of access to private investment and relevant measures are basically clear, and the main problem is at the operational level.

To this end, a number of opinions are focused on implementation. The policy measures adopted by the CPC Central Committee and the State Council to encourage and promote private investment are further defined and refined. Efforts are made to implement the policies and measures in two ways.

In order to facilitate the implementation of various departments and localities, the policies and measures put forward by a number of opinions should be as clear as possible, detailed, detailed and coherent, so as to maximize the operability of the documents, and strive for the use of all localities and departments.

From the overall and macro level, a number of opinions have clearly defined the scope and scope of government investment, put forward specific requirements for the layout and structural adjustment of state-owned economy, made arrangements for pushing forward the reform in related fields, and delineated broad development space from the periphery for private investment.

From the micro level, a number of opinions have refined the types and scope of specific projects and projects that encourage and support private capital to enter industries and fields, have clearly defined the specific channels and ways for private capital to enter relevant industries and fields, and put forward supporting policies and measures to break away all kinds of invisible obstacles, which has provided a way and guarantee for the development of private investment.

The two is to invite relevant departments and local governments to further formulate the implementation plan.

It is difficult for a number of opinions to make very detailed provisions for every field and every industry. Among them, there are macroscopically guiding policies and measures, which should be further refined and decomposed in combination with specific conditions in related fields, and more targeted measures should be put forward.

Therefore, a number of opinions finally require that all localities and departments should formulate specific implementation measures according to the requirements of the 36 articles of the "non-public economy" and the present opinions, so as to implement relevant policies and measures as soon as possible.