Breaking The Glass Door Of Private Capital To Usher In The Private Economy

In May 22nd, the NDRC revealed that the implementation of the new 36 rules will be introduced one after another, and private capital is expected to usher in the policy of "warm spring".

Brilliant view

Policy formulation should start with small aspects, and the implementation of opinions is too broad to be operational.

Why do private capital think there is a "glass door"? Because now many private capital wants to enter, but can not find regulators, even if found the regulatory side can not find a workable plan.

Lu political commissar (chief economist of Industrial Bank)

Some people feel that there are some areas where private capital strength is too weak and the ability to resist risks is weak. But can ten people and twenty people gather their strength together? Can they afford it now? The problem of private capital investment channels is now solved, rather than what areas are not suitable for private capital.

Huang Weijian (chief economist of Industrial Bank)

The characteristics of China's private capital are small diversification, so it is not suitable to enter these large projects of railway pportation, and state-owned capital is more concentrated, relying on public efficiency, they do better.

Lv Zhigang (chief economist of Industrial Bank)

In May 2010, the State Council issued several opinions on encouraging and guiding the healthy development of private investment ("new 36 articles").

In May 22, 2012, the responsible person of the national development and Reform Commission said that following the Ministry of Railways and the Ministry of health, the implementation details of the "new 36 articles" will be introduced densely, and a number of implementation rules will be formulated in 5 and June.

What are the effects of the rules on how to encourage the development of private capital? What kind of effect will the economy have on the economy? How do people in the industry see these rules? In this period, "the concept of wealth", the reporter invited Huang Weijian, chief economist of the Industrial Bank of Wenzhou, chairman of the private capital investment service center of Wenzhou, and Lv Zhigang, President of the capital hawk (Hongkong), to explore the "glass door" phenomenon faced by private capital.

Private capital is more concerned about "how to do".

Can such a detailed regulation be able to crack the "glass door" and "spring door" faced by private capital?

Lu commissar: in recent years, there are many policies about private investment, but not many of them are actually implemented.

We even see that no matter what department's views are lacking in new ideas.

In fact, private capital is not concerned with "how to say", but is more concerned about "how to do it".

Policy formulation should start with small aspects, and the implementation of opinions is too broad to be operational.

Why do private capital feel that there is a "glass door" or "spring door"? Because now when many private capital wants to enter, they can not find regulators. Even if they find the regulatory authorities, they will not find an operable solution.

Therefore, the policy will be refined to a certain project, such as the introduction of policies allowing private capital to enter the railway field. We should specify which railways allow private capital to enter, the proportion of private capital entering the largest proportion, and which departments should be sought.

Huang Weijian: the "new 36 item" has been promulgated for more than two years. Until now, the rules have been promulgated, and the rules have been promulgated too slowly.

Nowadays, there are many private capital, hard investment, and small and medium-sized enterprises, and financing is difficult. To solve these more than 2 dilemmas, we need more investment channels to guide private capital to the real economy.

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There are a lot of private capital, which can not find a good investment industry, there are many private enterprises, many good areas can not get in.

What is the "glass door" and "spring door", but in fact we think it is a wall, the door can at least go around and the wall will not enter.

After the introduction of the rules, the key lies in how to put it into practice and how to really allow private capital to enter more open areas.

Lv Zhigang: it remains to be seen, because the current rules are not clear, and the economic downturn is not good enough.

In fact, I think the best regulation is to act in accordance with economic laws and let private capital be fully marketed.

Reducing administrative approval is urgent.

How can we really break away from the "glass doors" of private capital and let the private economy usher in the spring?

Lu political commissar: in the absence of finding a more appropriate solution to the problem of private capital, the most urgent thing to do is to reduce administrative examination and approval.

Why do private capital investment require administrative examination and approval? What behaviors the law has stipulated are illegal. As long as they do not violate the existing laws, they do not need too much supervision. However, unlike state-owned enterprises, private capital is invested by state-owned enterprises, and the government is obliged to supervise them, but private capital is also responsible for losses.

The overcapacity of some industries needs to be adjusted.

The market has a relatively good regulatory mechanism. If private capital wants to enter, it can be seen from one side that this industry is profitable.

The government can put forward the requirements of environmental protection, but it should not be entered, can make money after entering, without much consideration from the administrative department.

Huang Weijian: like my answer to the last question, the central government's policy is very good, but how to land and how to follow up?

In Wenzhou, a large amount of capital can not be invested. If we continue to do business and clothing, it is impossible for many people to enter the financial field. But the small loan companies do not do much, and the other financial areas are not open.

Therefore, in order to really break the "glass door" and promote the development of private economy, I think the key is to implement all the rules.

Lv Zhigang: according to the economic laws, it can't always be spring. Nature has spring, summer, autumn and winter, and the same is true in the economic field.

At present, my suggestion is to stay calm and wait for the economic environment to turn better.

Private capital is not an enemy.

Some people think that some areas are not suitable for private capital to enter. What is your view?

Lu commissar: private capital is not "enemy". Why is it not suitable for private capital to enter? Even from the perspective of national security, it is unfair to deny private capital.

In fact, the administrative approval process does not need to identify areas where private capital is not suitable for entry.

Huang Weijian: I think after decades of development of Chinese private enterprises, many private capital and private enterprises already have enough ability. They only need the guidance of the government, so they can invest flexibly. What's wrong with this?

Some people feel that there are some areas where private capital strength is too weak and the ability to resist risks is weak. But can ten people and twenty people gather their strength together? Can they afford it now? Private investment is basically nowhere. The problem of investment channels is to be solved, rather than what areas are not suitable for private capital access.

Lv Zhigang: I personally think that the characteristics of China's private capital are scattered, so it is not suitable to enter these large projects of railway pportation, and state-owned capital is more concentrated, relying on public efficiency, they do better.