Deepening Economic Restructuring

In May 31st, the State Council agreed with the NDRC's "opinions on deepening the reform of the economic system in 2010" (hereinafter referred to as "opinions").

The contents of the opinions cover eleven aspects of deepening the reform of the economic system: encouraging and supporting the development of the non-public sector of the economy; deepening the reform of state-owned enterprises and monopoly industries; deepening the reform of the prices of resources products and environmental protection fees; deepening the reform of fiscal and taxation systems; deepening the reform of financial system; coordinating the reform of urban and rural areas; deepening the reform of the people's livelihood security system; deepening the reform of the social sector; deepening the reform of the foreign-related economic system; deepening the reform of the administrative system; and actively promoting the pilot project of comprehensive reform.

This has established the key task of reform in 2010.

1. The State Council has asked for "substantial breakthroughs" in the eleven key tasks of deepening the reform of the economic system in 2010.

The State Council requires that all regions and departments should put the reform in a more prominent position, strengthen organizational leadership, and firmly carry out the implementation so as to ensure substantial breakthroughs in the key work of the economic restructuring in 2010.

And stressed that "the development and Reform Commission should strengthen the guidance and comprehensive coordination of the annual reform tasks", "lead the responsible departments to actively promote and jointly formulate the reform plan with the relevant departments, make clear the implementation steps and time limits, and implement the responsibilities of the work."

Two, deepening the structural reform is the fundamental way to speed up the pformation of the mode of economic development and achieve sustainable economic development.

The world economic crisis, which broke out in 2008, is the most serious crisis since World War II. It is not yet known how the world economy will go back to prosperity.

At present, many deep-seated contradictions and outstanding problems still exist in China's economic operation: first, the government led investment growth has become the supporting force of economic development, the private sector's willingness to invest is not strong, the basic role of market allocation resources is hard to give full play to, and the process of structural adjustment is restricted. Secondly, the income gap between urban and rural areas has gradually expanded, and the income gap between urban and rural areas has been gradually expanded. The imperfect public service system with medical, educational, housing and social security as the basic content is an important factor restricting the adjustment of national income distribution pattern, expanding the consumption of residents and even the adjustment and development of the three industrial structure. In addition, the price of resources has not yet been straightened out, and the pressure of resources and environment has not been straightened out, and the pressure of resources and environment has become increasingly prominent, thus affecting the healthy development of the domestic economy. Two.

Therefore, advancing the system reform at present is the fundamental way to speed up the pformation of the economic development mode and realize the sustainable development of the economy. It is the general trend for China's economic restructuring to move towards the "deep water area". This is a major challenge to the new challenges that may arise after the adjustment of the world economic pattern.

Three, objectively speaking, the breakthroughs of the eleven key tasks in deepening the reform of the economic system in 2010 should be different.

Judging from the actual situation, the basis of the original reform level in different fields is different. Combined with the current economic situation, priorities and priorities for all priorities should be different.

"Encouraging and supporting the development of the non-public sector of the economy, further eliminating institutional obstacles that restrict private investment, promoting the withdrawal of state-owned capital from the general competitive areas" and "deepening the reform of state-owned enterprises and monopoly industries" are the most important tasks of the current economic work, and also the first area of reform mentioned in the opinion.

"Deepening the reform of the prices of resources products and environmental charges, deepening fiscal and taxation reform and financial system reform" is an effective price lever and a good external environment for accelerating the pformation of economic development mode from the system and mechanism.

But the central government's different considerations are: the requirement of resource tax and sales price classification structure adjustment is "promulgated"; the charging system of urban sewage, garbage and medical waste should be "fully implemented"; the property tax and water price reform requirements are "steady" or "progressive"; and the Levy of environmental taxes is limited to "research" level.

"Coordinating the reform of urban and rural areas" and "deepening the reform of people's livelihood and social sectors" are both important mechanisms for balancing interests and fundamental support and important links in the pformation of market operation and economic development.

From the reform of the medical and health system and the construction of the national innovation system, we need to "comprehensively promote"; the reform of the urban and rural endowment insurance system, the land management system reform and the household registration system requires continuous "improvement" and "deepening"; the management system of the affordable housing planning and construction requires "establishing and improving"; the unified urban and rural construction land market requires "gradual establishment" and readjustment and optimization, and the national income distribution pattern only requires "research", and the degree of reform has been more clear.

"Deepening foreign economic reform" and "deepening the reform of administrative system" are still limited to the "research" level. "Actively promoting comprehensive comprehensive reform pilot" is more successful reform experience promotion level.

Four, we need to point out that the reform of property tax is on the way and will be progressively promoted.

This "opinion" has increased the requirement of "gradually promoting the reform of property tax", and conveys to the market very clearly the determination of the central government to "resolutely" curb the rapid rise in housing prices this year.

In addition to focusing on the property sector, in addition to reaffirming the promotion of property tax reform, the "opinions" also put forward the need to establish and improve the management system of affordable housing planning and construction, accelerate the construction of low rent housing, public rental housing and affordable housing, and promote the pformation of shanty towns in cities and industrial and mining areas, and put forward a comprehensive policy on promoting the long-term and healthy development of the real estate market.

Judging from the current policy situation, it will be a big probability event that Shanghai first launched the "property tax" regulation policy and then introduced it to other cities with high housing prices.

We can closely follow the principle of "property tax", the way of execution and the control effect on house prices.

We believe that, with the deepening of the reform of the prices of resource products and environmental protection charges, urban utilities such as water supply, heating and gas supply will benefit to a certain extent.

There are also lots of investment opportunities in circular economy, energy saving, waste heat utilization, new air conditioning and clean coal technology related to energy saving and emission reduction.

Correspondingly, we must maintain a certain degree of caution in such sectors as petroleum, petrochemical, coal and real estate.