China'S Economy Is Fully Capable Of Achieving "Double High" Development

The national development and Reform Commission held a press conference to announce the macroeconomic situation.

Yan Pengcheng, director of the Political Research Office of the national development and Reform Commission, responded to the hot issues in the current economic operation.

Yan Pengcheng said that in the first half of this year, China's economy grew by 6.9% over the same period last year. This result is better than expected, and it is hard won. It has laid a solid foundation for achieving the goal of economic development in the whole year and achieving better results.

Yan Pengcheng said: at present, China's economic structure is constantly adjusting and optimizing, and the development of kinetic energy is being orderly pformed. China's economy is fully capable and qualified to continue the current steady and favorable development trend and achieve "double high" development.

"We will continue to push forward the supply side structural reform in accordance with the established arrangements, adhere to the problem orientation, and strive to optimize the economic structure, promote the pformation of the old and new kinetic energy, and strive to maintain the economic operation in a reasonable range."

He said.

Reporters learned that in the first half of this year, China's economic growth, employment, price, balance of payments and other major indicators are better than expected.

For example, economic growth was 6.9%, urban employment increased by 7 million 350 thousand, CPI rose 1.4%, PPI rose from 6.9% in January to 5.5% in June, imports and exports amounted to 13 trillion and 140 billion yuan, an increase of 19.6%, and imports and exports of services continued to grow. At the end of the month, foreign exchange reserves stood at $30568 billion, increasing for 5 months.

Other indicators and related leading indicators have also improved, and the matching degree between indicators has increased significantly. Domestic and foreign institutions and experts have raised their expectations for China's economic growth.

The world of 2017 released by the United Nations Conference on Trade and development in June

"China is still one of the most popular investment destinations in the world," he said.

According to Yan Pengcheng analysis, the motive force of China's economic growth mainly comes from four aspects.

First, consumption has become the main driving force for economic growth.

In the past 3 years, the contribution rate of final consumption expenditure to economic growth was 48.8%, 59.7% and 64.6%, respectively, 1.9, 18.1 and 22.4 percentage points higher than the contribution rate of investment.

In the first half of the year, consumption contributed 63.4% to economic growth, 30.7 percentage points higher than investment.

Two, the leading role of innovation is increasingly prominent, and the new kinetic energy is accelerating growth.

In the first half of this year, China's high-tech industry and equipment manufacturing industry added value increased by 13.1% and 11.5% respectively, up 6.2 and 4.6 percentage points respectively.

New industries, new formats, new models and new products have springing up and growing vigorously, which will inject new strong impetus to the sustained and healthy development of China's economy.

Three is

Structural reform effect gradually released, market supply and demand relations improved significantly.

With the promotion of production capacity, a large number of zombie enterprises have gradually withdrawn, making room for the development of other quality enterprises in the industry, not only optimizing the allocation of industrial resources and the layout of productive forces, but also improving the supply and demand structure of the industry, and improving the business and market expectations of enterprises.

Four is the continuous optimization of enterprise development environment, effectively stimulating the vitality of the micro body.

In the first half of this year, 2 million 910 thousand new businesses were registered nationwide, and the openness of services and manufacturing sectors continued to improve. China remained one of the most popular investment destinations in the world.

Yan Pengcheng said that in the first half of the year, we have made positive progress and achievements in capacity production.

First of all, iron and steel aspects, resolutely eliminate backward production capacity, strictly control the new capacity, and investigate and deal with some local illegal construction of iron and steel smelting projects.

Meanwhile, as of the end of 6, the "land bar" will be cleared according to the plan and will be inspector.

In the first half of the year, the coal industry withdrew from coal production capacity of 1.11 million tons and completed 74% of the annual target volume, which effectively promoted the healthy development of the coal industry.

"With the promotion of production capacity, a large number of zombie enterprises have gradually withdrawn, making room for the development of other quality enterprises in the industry, not only optimizing the allocation of resources and productivity of the industry, but also promoting the improvement of the supply and demand structure of the industry."

Yan Pengcheng said.

He stressed that the effect of supply side structural reform is gradually being released, and the market supply and demand relationship has improved significantly.

For the current coal price rise in the society is due to the problem of tight supply of coal caused by the production capacity, Yan Pengcheng said, first of all, the capacity to go mainly to inefficient inefficient production capacity, this part of the withdrawal of production capacity, the impact on the actual output of coal is small.

Secondly, the coal supply is tight and price fluctuates. The reason is comprehensive.

For example, the economic recovery has led to the rapid growth of coal consumption, such as coal, steel, chemical and other major coal consumption products; the impact of water resources, the sustained and large negative growth of hydropower, led to an increase in the consumption of electric coal; and the price fluctuation brought about by the large withdrawal of coal production capacity.

He said that in order to co-ordinate the work of capacity and steady supply, promote market supply and demand balance, and prevent abnormal fluctuations in prices, the NDRC will work with relevant departments to focus on the following key tasks: first, speed up the release of high-quality production capacity.

The two is to increase the capacity coordination protection.

The three is to promote the development of clean energy.

The four is to promote the performance of medium and long term contracts.

Five is to establish and improve the corporate social responsibility reserve system.

Six, we should actively guide market expectations.

Talking about entrepreneurship innovation is becoming an important engine of China's economic growth.

The executive meeting of the State Council just passed the relevant documents. It is clear that we should strengthen the implementation of the innovation driven development strategy and further promote the in-depth development of public entrepreneurship and innovation.

To this end, the NDRC will provide more policy support for entrepreneurship and innovation, and implement four "further" initiatives:

Further easing market access.

Aiming at increasing the convenience of entrepreneurship and innovation, we should relax the entry threshold of Internet Education and other industries, optimize and simplify related government procedures, and better stimulate the entrepreneurial potential and enthusiasm of various market players.

We should further intensify policy support.

With the aim of relieving the difficulties and pain points of entrepreneurship and innovation, we must vigorously promote the construction of the "double innovation" demonstration base, vigorously break down the bottlenecks of relevant systems, and provide greater room for entrepreneurship and innovation.

Further optimize the entrepreneurial innovation ecosystem.

We should carry out inclusive and prudential supervision to avoid using old methods to control new formats and provide a more inclusive development environment for entrepreneurial innovation.

Further standardize the order of market competition.

We should implement a more strict system of intellectual property protection, break down trade barriers and regional restrictions, strengthen the guiding role of social credit, and create a more equitable market competition environment for the development of start-ups.

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