Macroeconomic: Supply Side Reform Or Next Year's Protagonist

The central economic work conference has come. Which sectors should be paid attention? The micro signal of the people's Daily commentary on the people's Daily's public address published Ren Zhongping's comments last night, revealing that "adhering to innovation, development, coordinated development, green development, open development and sharing development is a profound change that has a bearing on the overall development of our country.

In December 18th, the central economic work conference, which is being held in Beijing, will integrate the "five development ideas" into a pragmatic measure for the coming year.

In the two tier market, the market uncertainty was eliminated after the Federal Reserve raised interest rate boots yesterday morning, the global stock market rose and A shares rose 1.81%.

Three big

All recovered 20 day moving average.

Shanghai index breaks through the 3400-3550 interval shock platform.

Market analysts pointed out that yesterday, although the two cities rose, but mainly boosted by real estate, whether the spread of hot spots in the market and the entry of OTC funds will be the key to the continuation of the market.

Operation, continue to absorb resources, finance, layout of the market in the coming year.

Recently, the economic policy released by the Central Committee has shown that the traditional five considerations have turned into four considerations: "steady growth, structural adjustment, people's livelihood and risk prevention". Structural reform is emphasized as the emphasis.

All signals point to one direction: demand management will become a supporting role next year, and supply side reform will become the leading role, because only supply side reform can "improve the quality and efficiency of the supply system" and "improve investment effectiveness". Pure demand management may only increase ineffective investment.

Specifically, the core of the supply side reform includes three points: first, to inventory.

The two is to go to capacity.

The three is major reform of state-owned enterprises, finance, taxation, finance and social security, especially social security reform.

From the leaders of the BRICs countries to the UN Development Summit and the Paris Conference on climate change, from the leaders of the group of twenty to the APEC conference and the Johannesburg summit of the China Africa Cooperation Forum, the whole world is looking for new opportunities for development and new impetus for change.

"Insist on

Development, coordinated development, green development, open development and shared development are profound changes that are related to the overall development of our country.

In December 18th, the central economic work conference, which is being held in Beijing, will integrate the "five development ideas" into a pragmatic measure for the coming year.

In December 14th, the Political Bureau of the CPC Central Committee held a meeting to stress the key point of economic and social development in 2016 and fight the war of annihilation.

With regard to real estate, the conference has laid a solid foundation for the steady development of real estate from various aspects such as inventory, supply side reform, innovation drive, enterprise burden reduction, population registration reform and urbanization.

We should actively and steadily promote the survival of the fittest of enterprises, and achieve market clearing through mergers and reorganization, bankruptcy and liquidation.

To help enterprises reduce costs, including reducing

The enterprise tax burden, social insurance fee, financial cost, electricity price, logistics cost and so on, set out a set of "combination boxing".

We should expand effective supply, maintain effective investment and focus on short board.

We must guard against and defuse financial risks and firmly defend the bottom line of systemic and regional financial risks.