More Than A Few Days Ago, A Number Of Provinces In China Promulgated The "Supply Board" Specific Plan Of Action For Supply Side Reform.

A few days ago, many provinces in China came out.

Concrete action plan for "short board".

The next 3 to 5 years, Guangdong, Zhejiang, Fujian and other places to complement the soft and hard infrastructure short board investment will be more than trillion yuan.

According to the principle of "barrel effect" in economics, how much water a wooden barrel can hold is determined by its shortest plank. Only the short board can be added to increase the capacity.

Experts pointed out that the "short board" as an important part of the structural reform of the supply side is to make up for short supply, expand effective supply, upgrade industries, improve the quality of supply, and let "cask" sufficient water volume to enhance industrial competitiveness and enterprise vitality, and enhance the overall effectiveness of the national economy.

1, we should not allow "short" to last.

In today's extremely rich material, we still feel inadequate.

Statistics show that there are some industries.

Supply exceeds demand, such as steel, nonferrous metals, cement, textiles,

And other industries oversupply, a large backlog of inventory.

However, there is a shortage of supply in the middle and high end manufacturing (AI, net value, information) industry and service industries, and the resources in medical, health, pension and other service industries are limited. The infrastructure such as urban rail pit, underground pipe corridors, parking places is seriously inadequate, and the rapid growth of outbound consumption and offshore purchase reflects the problem of oversupply of domestic low-end products and the shortage of high-end products.

It is inevitable to develop "long and short board" in different fields, but we can not allow the short board to stagnate.

Song Qinghui, a noted economist, points out that the short board of China's economy is mainly reflected in the industrial economy, and urban management, livelihood security, social governance and environmental construction should not be underestimated.

In the past, we have left a lot of debts in industries and other fields. Some short boards need to be filled up, otherwise it will easily leave hidden trouble for the future economic development.

Experts point out that the structural reform of supply side is to correct the mismatch of supply and demand structure and the distortion of factor allocation, and solve the problem of insufficient effective supply, so as to achieve a new balance between supply and demand at a higher level.

The short board is to expand effective supply, improve the quality and efficiency of supply, and boost total factor productivity.

2 breakthrough to make up for "short" difficulties

Zhong Ying, a researcher at the Institute of contemporary Chinese Studies of the Chinese Academy of Social Sciences, lists the short board of economic development: first, the short board of sustained and healthy economic development, such as the slow adjustment of structural optimization, the lack of new impetus for growth, the low investment demand; two, the short board of infrastructure construction; three, the short board of people's livelihood construction; four, the short board of urban and rural co-ordination development; five, the short board of environmental protection and ecological construction; six, the short board of technological innovation and progress; seven, the short board of talent development; and eight, the short board to prevent and control financial risks.

There are two reasons for the formation of short boards.

"One is caused by the development stage and the limitation of development level. One is caused by obstacles in the system and mechanism.

For example, because our R & D investment is insufficient and human capital accumulation is insufficient, we lack the key high-tech product supply capability. "

Liu Zhibiao, a distinguished professor of Yangtze River scholar at Nanjing University, analyzed.

However, it is not easy to make up for "short".

"How to direct the flow of funds to the short board is a difficult point."

Xu Hongcai, Minister of Economic Research of China International Economic Exchange Center, pointed out that in the interview with our reporter, for example, people's livelihood requires priority in social benefits, which makes the enthusiasm of private capital investment affected.

According to Xu Hongcai analysis, for some large infrastructure projects, government funds are insufficient, and the PPP mode of cooperation between the government and social capital needs to be adopted. However, some government officials are unable to grasp this new investment and financing mode and have a low enthusiasm.

Insufficient investment in the field of high technology is also a big problem.

"Its deficiencies are not only reflected in capital, but also in technology, management and talent input."

Xu Hongcai pointed out that the existence of these short boards restricts the overall function of the economic system.

3 make up the "soft and hard" short board.

At present, the short board should start from two aspects: "soft and hard".

Hard and short boards are embodied in information, data and network infrastructure.

Soft and short boards are at the institutional level, such as whether the institutional environment is conducive to innovation and entrepreneurship, whether it can promote competition, and whether it can reduce paction costs.

Huang Qunhui, director of the Institute of industrial economics of the Chinese Academy of Social Sciences, pointed out.

Huang Qunhui suggested that the short board can be pushed from three levels: industry, region and enterprise.

The industry level is to support new industries (love, net value, information), to resolve excess capacity, to promote China's manufacturing 2025, to integrate Internet with traditional industries, to develop a new batch of new formats, new economy (love, net value, information) and to pform production mode; on the enterprise level, the key task of "13th Five-Year" is to dispose of "zombie enterprises", reduce the cost of entity enterprises, deepen the reform of state-owned enterprises, and improve the innovation and development environment of enterprises; at the regional level, the government promotes the new regional development strategy of "one belt and one road", coordinated development of Beijing, Tianjin and Hebei, the Yangtze River economic belt and the revitalization of old industrial bases in Northeast China.

It is particularly important to make up soft and short boards in terms of institutional mechanisms.

"For the short board that is caused by the failure of the government's institutional mechanisms, we must solve it through reform of the institutional mechanism. For the short board caused by the failure of the market mechanism, we must cultivate the market mechanism and let the market play its role consciously."

Xu Hongcai said.

According to the special report issued by Renmin University of China, the core factor contributing to the short board is the lack of motivation for independent innovation in the whole society.

We should eliminate the institutional constraints of the cooperative mechanism of industry, University and research, and stimulate the enterprisers' innovative spirit and the power of independent innovation of micro entities.

At the same time, China's foreign trade policy should be adjusted to form an external environment to promote China's innovation capability.