The Politburo sets the tone for China's economy: how to deal with "stability and change"?


The Politburo sets the tone for China's economy: how to deal with

Original title: the Politburo sets the tone for China's economy: how to deal with "stability and change"?

(economic observation) the Politburo sets the tone for China's economy: how to deal with "stability and change"?

China News Agency, Beijing, Beijing, July (reporter Zhou Rui) although the first half of China's economy maintained a stable overall, but the external environment has undergone significant changes, and some new challenges are also beginning to appear.

The 31 session of the Political Bureau of the Central Committee of the CPC clearly pointed out that the current economy has changed steadily. Based on this judgment, the conference decided to seize the main contradiction and deploy a series of targeted measures to solve it.

More than ten "stable" words outline the whole year of Chinese economy.

In the first half of 2018, China's gross domestic product (GDP) grew by 6.8% year-on-year and remained between 6.7% and 6.9% for 12 consecutive quarters.

Considering the continuous optimization of the economic structure, the prevention and solution of the financial risk, the improvement of the ecological environment, the sense of happiness, the sense of happiness and security of the people, the Political Bureau meeting on the same day adjusted the Chinese economy in the first half of the year with two "stable" words: overall stability, stable and good.

But at the same time, the meeting's adjustment and adjustment to the current economy is "steady and changing". On the one hand, the word "change" stems from some new problems and new challenges, and on the other hand, it is related to the obvious changes in the external environment.

In the face of the "change" situation, the meeting put forward the goal of "stability". In the official information disclosed on that day, the conference used more than ten "stable" words to outline the tasks of China's economic work in the second half of the year. On the whole, we must stick to the general keynote and keep the overall economic and social stability. Specifically, we should "do well in steady employment, stable finance, stable foreign trade, stable foreign investment, stable investment and steady anticipation".

Clarify fiscal and monetary policies and make clear the focus of supply side reform.

In the above-mentioned deployment, the work of "steady anticipation" has been launched at the conference.

The focus on how fiscal and monetary policy should be carried out in the near future has been the focus of attention. The meeting revealed that the policy will be forward-looking, flexible and effective. Among them, fiscal policy should play a greater role in expanding domestic demand and structural adjustment. Monetary policy should keep good supply gate and maintain a reasonable and abundant liquidity.

In view of the reform targets, such as "three to one drop and one supplement", the meeting also clearly pointed out that it should be the key task of deepening the structural reform of the supply side at present.

In the case of "steady change" in the economy, increasing the strength of "short board" in the field of infrastructure can not only stabilize the investment, but also lay the foundation for the transformation and upgrading of the economy. The measures to reduce costs for enterprises and promote rural revitalization strategy can also make China's economic growth more dynamic.

Resolutely de leveraging and resolutely curb house prices

Although the economic work is stable in the second half of the year, the pace of deleveraging will not stagnate.

The meeting clearly demanded that we should firmly do a good job in deleveraging, grasp the dynamics and rhythm, and coordinate the timing of various policies. Through mechanism innovation, we can improve the capability and will of financial services in the real economy.

In addition to emphasizing the importance of monetary policy, the determination of official deleveraging is also reflected in the strict control of the property market.

The conference calls for a resolve to solve the real estate market problem, to maintain the balance of supply and demand, to guide the expectation reasonably, to regulate the market order and to resolutely curb the rise of the house price. Accelerate the establishment of a long-term mechanism to promote the steady and healthy development of the real estate market.

Reform continues to be the key to tackle tough problems.

Since 2018, China has continued to introduce major reform initiatives. Not long ago, the official release of the new "negative list" of foreign investment in 22 fields, including finance, transportation, trade and trade, professional services, manufacturing, infrastructure, energy, resources, agriculture and so on, greatly relaxed market access.

The Politburo meeting on that day clearly pointed out that in the future, we should continue to study and introduce a number of major reform measures that will be effective. We need to implement major initiatives to expand openness and broaden market access.

This shows that facing the economic situation of "stable and changing", facing the requirements of steady foreign investment, steady investment and steady expectation, the reform will still be the key to the hard work of China's official hard work. (finish)

Editor in responsibility: Huo Yuang


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