China's Economic Growth In The Three Fields Of L Growth

In the new normal period, the government's role in economic development is also the focus of attention.

The authoritative side pointed out that the structural reform of supply side is by no means a return to the old path of the planned economy, but rather to give full play to the decisive role of the market in the allocation of resources, and further improve the market mechanism and rectify the distortion of the allocation of factors that have been too much reliance on administrative allocation resources.

The topic of China's economic weakness continues unabated.

Whether or not we can settle down and stabilize in the new year has always been the most conjecture.

Among many different points of view, "authoritative people" voted for the L economy.

In the beginning, the think-tank believes that such an important judgment can be regarded as a "reassurance" for the central and local governments, as well as a "Relaxation" of growth pressure.

On the one hand, the Central Committee of the Communist Party of China correctly understands and accepts the current objective situation and concentrates on the idea of reforming the long term interests, which is conducive to China to get rid of the current development anxiety. On the other hand, the formulation of the "supply side + structural + reform" formula has pointed out the direction for development.

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At present, the main contradictions and problems have been put forward by authoritative figures, namely, "four down one liter", that is, the decline in economic growth, the decline in industrial prices, the decline in profits of entities, the decline in revenue growth and the rising probability of economic risks.

The "four drop" is an important reference index in China's economy. It can reflect the main problems. The frequent occurrence of events such as the stock market earthquake since last year also reflects the cumulative economic risks. Economists such as Huang Yiping and Liu Shijin have suggested that one of the major policy objectives of this year is to guard against risks.

In the "window period" of reform, the authorities also put forward five key tasks: grasping capacity, eliminating inventory, deleveraging, reducing costs and making up short boards.

In fact, these tasks correspond to the main concerns of the central government.

For example,

If this structural contradiction is not solved, the price of industrial products will continue to decline, and the efficiency of enterprises will not be promoted, and economic growth will be difficult to sustain. For example, if the real estate does not return to normal state, the last "boots" will not fall, and the Chinese economy will not be able to smoothly explore the bottom.

It is worth noting that L is bottomed out.

From the "13th Five-Year plan" and the goal of a well-off society in an all-round way, the economic growth rate of not less than 6.5% is the bottom.

As a whole, supply side structural reform has more emphasis on overall and coordination than in the past.

Chi Fulin, Dean of China (Hainan) reform and Development Research Institute, believes that the lag of supply side causes the contradiction between supply and demand at present. The supply can not only keep up with the trend of demand upgrading, but also satisfy the ability to create new consumption and create new driving force for economic development. Therefore, it is urgent to improve the adaptability and flexibility of supply structure through reform.

In many package policies, the reform of state-owned enterprises, fiscal and taxation systems and financial systems has been mentioned in an important position.

The eleventh meeting of the central financial and economic leading group once classified these three items as the important content of "reform policies to be realistic", and at the same time, they believed that they had a significant role in promoting economic growth.

In the Journal of the people's daily, authoritative figures clearly pointed out that we should adhere to a proactive fiscal policy and a prudent monetary policy, but the focus and intensity should be adjusted.

These three items also play a key role in the specific war of annihilation.

The article points out that in order to reduce institutional paction costs, reduce tax burden and reduce capital costs, we must reduce administrative examination and approval, reform fiscal and taxation, and finance system. We must reform fiscal, financial, investment and financing systems in order to solve the problem of where money comes from and where to invest.

We must unswervingly reduce excess capacity and let the "zombies" live in peace and secure valuable physical resources, credit resources and market space, and point out that some places have to support loans and subsidies to some inefficient enterprises.