Reposted from: Securities Daily
Our reporter Guo Jichuan
On January 11, the National Industry and Information Technology Work Conference was held in Beijing, and 13 key tasks were deployed for the work in 2023. Among them, “promoting the steady growth of the industrial economy with all efforts” was placed at the top of the economic work in 2023, emphasizing the stability Focus on key industries, encourage major industrial provinces to take the initiative to stabilize bulk consumption such as automobiles, support enterprises to increase equipment updates and technological transformation, and deepen cooperation in industry and finance.
Liu Yushu, director of the Beijing Shugui Science and Technology Center, told a reporter from the Securities Daily that promoting the steady growth of the industrial economy will inject boosters into the engine of regional economic development on the one hand, and on the other hand will further accelerate the speed of my country’s industrial digital transformation and upgrading.
China’s industrial economy is generally stable and improving
According to the latest data from the Ministry of Industry and Information Technology, China’s industrial economy is currently stabilizing and improving. It is estimated that the added value of industries above designated size will increase by 3.6% year-on-year in 2022, of which the added value of manufacturing will increase by about 3.1%; the added value of manufacturing will account for GDP. 28%, an increase of 0.5 percentage points over 2021. It is estimated that the production and sales of new energy vehicles will exceed 6.5 million in 2022, and the export of complete vehicles will hit a record high.
Liu Yushu introduced that the prices of bulk commodities related to the iron and steel industry chain have rebounded to varying degrees recently, indicating that the market is expected to increase economic growth in 2023. Judging from the published data on transportation and logistics, the smoothness of logistics is recovering rapidly, which means that the industrial Manufacturing is gaining momentum.
Judging from the measures of “full efforts to promote the steady growth of the industrial economy”, the Ministry of Industry and Information Technology proposed to stabilize key industries and formulate work plans for stable growth according to the characteristics of different industries. Encourage major industrial provinces to take the initiative to take the lead, support the central and western regions to actively undertake industrial transfers, and support the northeast region to achieve new breakthroughs in the revitalization of manufacturing. Stabilize bulk consumption such as automobiles, implement the “three products” campaign for consumer goods, deepen the construction of demonstration cities for information consumption, and expand the supply of household products and daily necessities suitable for the elderly. Support enterprises to increase equipment renewal and technological transformation, and do a good job in service guarantee for key foreign-funded projects in the manufacturing industry. Deepen industry-finance cooperation, give full play to the leading role of investment funds, and guide social capital to increase investment in manufacturing, etc.
Chen Jianwei, an associate professor at the National Academy of Opening-up at the University of International Business and Economics, told a reporter from the Securities Daily that the introduction of relevant policies has sent a clear signal to the society, emphasizing the stabilization of key industries, including traditional competitive industries and strategic emerging industries. It has a pivotal position and role in creating independent and controllable chains, creating new advantages in international competition, and driving the development of small and medium-sized enterprises.
Bo Wenxi, Chief Economist of IPG China, told the Securities Daily reporter: “Promoting the steady growth of the industrial economy also requires the support and promotion of comprehensive and multi-angle policies such as industrial policies, fiscal and taxation policies, credit and import and export, and consumption support. Doing a good job in the service guarantee of key foreign-funded projects in the manufacturing industry is expected to smooth the logistics channels for domestic and foreign trade, effectively reduce the transportation costs of industrial enterprises in foreign trade and improve logistics efficiency.”
Improve the industry-finance cooperation platform and improve the industry-finance cooperation mechanism
The Ministry of Industry and Information Technology has repeatedly proposed in 2022 to improve the industry-finance cooperation platform, improve the industry-finance cooperation mechanism, and further improve the overall coordination and work guidance of industry-finance cooperation.
At the press conference on “promoting green, low-carbon and circular development of industry” held by the Ministry of Industry and Information Technology in September 2022, Weng Qiwen, deputy director of the Finance Department of the Ministry of Industry and Information Technology and a first-level inspector, said that the Ministry of Industry and Information Technology has strengthened coordination and cooperation with relevant financial departments. Information sharing, policy coordination, government procurement, performance orientation, due diligence and exemption, etc. strengthen industry-finance cooperation to support the effect of industrial green development. Cooperate with a number of financial institutions to set up special loans for the manufacturing industry, formulate oriented plans for technological transformation and upgrading of industrial enterprises, and take industrial green development as a key support area.
held in November 2022Financial StreetAt the forum, Weng Qiwen introduced that since the national industry-finance cooperation platform was officially launched in February 2021, a total of 160,000 companies have entered the database, and more than 1,300 financial institutions on the platform have helped companies raise nearly 350 billion yuan. In addition, the platform, as the main channel to support the implementation of the People’s Bank of China’s technological innovation re-lending policy tool, has supported more than 3,000 enterprises and raised more than 160 billion yuan.
Wang Dongwei, chairman of Zhongtai Capital Investment Management Co., Ltd., told reporters that to promote the steady growth of the industrial economy, on the one hand, it is necessary to activate the production and R&D momentum of enterprises, and on the other hand, it is necessary to guide social capital to increase investment in manufacturing. Through the construction of an industry-finance cooperation platform, funds can be invested in high-quality industrial development projects, which not only brings investment confidence to capital, but also attracts capital to enterprises.
Wang Dongwei said: “Industrial Internet is an emerging industry that integrates the new generation of information technology and advanced manufacturing technology. The process of the economy is gradual and requires continuous investment from enterprises, and deepening industry-finance cooperation will help consolidate the foundation of digital transformation for enterprises.”
Liu Yushu added that there is still a lot of room for improvement in the digital transformation of small and medium-sized manufacturing industries. Some of these specialized and new enterprises have great potential for development and are also high-quality investment targets in the eyes of financial capital.
(Edit Yuan Yuan)
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