Financial Crisis Impel Strategic Adjustment Of China'S Economic Structure

Chinese economic experts believe that in the context of the impact of the international financial crisis, in addition to preventing an accelerated economic downturn, China will also focus on accelerating the pformation of the development mode and promoting the strategic adjustment of the economic structure in 2009.

The central economic work conference concluded on the 10 day, on the basis of continuing to emphasize "ensuring growth and promoting domestic demand", further put forward the requirement of "structural adjustment".

If China's economic structure is too dependent on external demand, if it is not adjusted, even if there is no impact of the economic crisis, it will be difficult for the Chinese economy to ensure long-term and stable development.

Guo Shikun, general manager of the research department of China Construction Bank, said that the central economic work conference regards expanding domestic demand as a "fundamental way to maintain steady and rapid economic development". In order to promote economic restructuring, it will play an important role in stabilizing the economic growth in the next two years.

Yu Danhua, director of the foreign trade and Economic Cooperation Bureau in Ningbo, Zhejiang, China's eastern coastal area, feels that the focus of the work this winter is changing from helping enterprises to expand the international market to expanding domestic sales: constantly studying domestic demand, organizing foreign trade enterprises to participate in domestic exhibitions, and inspecting the domestic market in the Midwest. These words with "inside" are full of Yu Danhua's agenda.

Yu Danhua said that Ningbo, relying on foreign trade to find domestic demand, with an export dependence of 85%, is doing its best to speed up the pace of restructuring its economy as it is located in the Oriental power.

In the face of the impact of the international financial crisis, China's pace can not be unpleasant.

The central economic work conference judged the current economic situation facing China: at present, the financial crisis itself has not yet bottomed out, and the impact on the real economy is further deepened, and the serious consequences will be further manifested.

Customs data also show that China's economy, which is characterized by export pulling, is facing difficulties: in November, China's total import and export volume dropped by 9% compared with the same period last year, of which exports were 114 billion 990 million US dollars, down 2.2%.

Because the international economy is still in the downside, chief economist Lu Zheng commissar of Xingye Bank said that the first half of next year may be the real cold winter for China's exports.

In response to the severe foreign trade situation, the central economic work conference changed the past direction of reducing trade surplus, and proposed to maintain steady growth in exports.

In the second half of this year, China has increased the tax rebate rate of most export products in an attempt to help enterprises stabilize export markets.

In order to readjust the economic structure, a series of policies to expand domestic demand have been put forward: from the ten measures taken by the State Council to expand domestic demand to six measures to promote the healthy development of the textile industry.

"The introduction of a series of policies can greatly reduce the burden and cost of enterprises, and accelerate the pformation and upgrading of enterprises, and increase the added value of products," said Wang Mingyu, chairman of the 45 year old Xinle Textile Co., Ltd. in Shaoxing, China Textile City.

Previously, the severe market situation made Wang Mingyu hesitate to buy new equipment and improve product quality.

Now, he is busy holding a high-level meeting of the company to discuss the purchase of new Jacquard machines and increase the development of the domestic market.

The decision of the Chinese government to accelerate the pace of economic restructuring has been responded positively by local governments.

The central economic work conference has just ended. Guangdong, a big economic province, immediately convened a meeting to respond. It clearly stated that "we should ensure growth and adjust the economic structure".

In the next 5 years, Guangdong will invest 2 trillion and 370 billion yuan to carry out the construction of ten new projects in various fields, including pportation, modern industrial construction and energy security.

At the same time, Guangdong province has intensified efforts to promote pformation and upgrading of traditional industries.

On the one hand, relevant documents are issued to encourage processing trade enterprises to pform domestic sales. On the other hand, 28 industrial pfer industrial parks have been set up in the whole province, encouraging enterprises to improve technology and develop brands, extending from the lowest manufacturing efforts to two ends of "smile curve".

More grassroots officials realized that China's rural market is extremely broad.

"We should increase investment in rural infrastructure, build more supermarkets and chain stores, and stimulate rural consumption."

Huang Zhengqiang, Secretary of Yueqing Municipal Committee of Zhejiang Province, said.

In Anhui Province, more and more community vegetable markets, convenience stores and Breakfast shops will appear in cities in the coming year.

The province is also preparing to arrange 8 million yuan to support the construction of dozens of wholesale markets for agricultural products, focusing on the construction and pformation of processing and distribution centers, so as to form a marketing network with low circulation cost and high efficiency.

Experts believe that the central economic work conference has once again defined the direction of the 4 trillion yuan revitalization economic plan for dealing with the crisis, namely, combining growth with insurance, expanding domestic demand and adjusting the structure.

"Structural adjustment" has become an important feature of this round of macroeconomic regulation and control.

The people's Bank of China clearly stated that while providing liquidity support to financial institutions in a timely manner, the people's Bank of China will strive to optimize the credit structure, and guide financial institutions to increase credit support for key projects, small and medium enterprises, technological pformation, merger and reorganization, energy conservation and emission reduction. At the same time, it will continue to restrict loans to the "two high" industries and poor quality enterprises in overcapacity industries, and promote economic structural adjustment and pformation of development mode.

From the information disclosed by the central economic work conference, we can see that implementing structural tax reduction, optimizing the structure of fiscal expenditure, and increasing support for energy conservation, emission reduction, independent innovation, advanced equipment manufacturing, service industries, small and medium enterprises, and major reforms will become an important thrust for China's economic development next year.

Yang Jing: editor in charge