Original Title: Meeting of the Political Bureau of the CPC Central Committee: Coordinating and Doing a Good Job of Macroeconomic Policy Linkage for the Year and Next Years
Every reporter Li Keyu Every editor Chen Xu
On July 30, the Political Bureau of the CPC Central Committee held a meeting to analyze and study the current economic situation and plan economic work in the second half of the year.
After China’s economy achieved a year-on-year growth of 12.7% in the first half of this year, and the total GDP exceeded the 50 trillion yuan mark, how will the current Politburo meeting judge the current economic performance? Regarding the focus of economic operation in the second half of the year, what important measures will this meeting arrange?
The “Daily Economic News” reporter noted that the Politburo meeting proposed that to do a good job of economic work in the second half of the year, we must adhere to the general tone of the work of seeking progress while maintaining stability, fully, accurately and comprehensively implement the new development concept, and deepen the supply-side structural reforms. , To accelerate the construction of a new development pattern and promote high-quality development.
Maintain the continuity, stability and sustainability of macro policy
“Economy continues to recover in a stable manner, while stability is improving.” This is an important conclusion made by this Politburo meeting on my country’s economic situation this year.
While affirming the results, the meeting also made a full assessment and judgment on some unfavorable factors in the current economic situation. The meeting pointed out that the current global epidemic is still evolving, the external environment is becoming more complex and severe, and the domestic economic recovery is still unstable and uneven.
Yang Chang, chief economist of the Institute of Public Policy and Governance at Shanghai University of Finance and Economics, analyzed to the reporter of “Daily Economic News” that “instability” means that economic restoration still faces certain pressures, and various policies still require discretion.
The “imbalance” is reflected in the imbalance between industry and service, the imbalance between investment and consumption, the imbalance within investment, the imbalance between mandatory consumption and optional consumption, and the imbalance between regions. How to resolve the imbalance, or how to avoid the further expansion of the imbalance, may still be the focus of policy efforts.
It is worth noting that this Politburo meeting emphasized that we must do a good job in the cross-cycle adjustment of macro policies, maintain the continuity, stability, and sustainability of macro policies, make overall plans for the convergence of macro policies in the next two years, and maintain economic operations within a reasonable range. .
Li Qilin, director of Hongta Securities Research Institute, analyzed to the reporter of “Daily Economic News” that this meeting clearly emphasized the need to do a good job in the cross-cycle adjustment of macroeconomic policies. Periodic adjustment, to deal with the cyclical risks that may occur, is in the same line. At present, this may mainly refer to the future downward pressure in areas such as exports, as well as credit risks in economic operations. To this end, this meeting not only mentioned inter-cyclical adjustments, but also emphasized the need to prevent and defuse risks in key areas, and implement a fiscal and financial risk handling mechanism under the responsibility of local party and government leaders.
Accelerate the development of rental housing and implement supporting policies such as land use and taxation
In terms of the key tasks to be promoted in the future, the Politburo meeting required to tap the potential of the domestic market, support the accelerated development of new energy vehicles, accelerate the integration of the county’s rural e-commerce system and express logistics distribution system, and accelerate the implementation of the “14th Five-Year Plan”. Plan the construction of major engineering projects and guide enterprises to increase investment in technological transformation.
In addition, the meeting also emphasized the need to strengthen technological innovation and the resilience of the industrial chain supply chain, strengthen basic research, promote applied research, carry out special actions to strengthen the chain, speed up the solution of the “stuck neck” problem, and develop specialized and new small and medium-sized enterprises. It is necessary to increase reform efforts to further stimulate the vitality of market players. Adhere to a high-level opening up, and unswervingly promote the high-quality development of the “Belt and Road” joint construction.
It is worth noting that the meeting proposed that we must coordinate and orderly do a good job in carbon peaking and carbon neutrality, and issue a carbon peaking action plan before 2030 as soon as possible, adhere to a national chess game, correct the campaign-style “carbon reduction”, and establish first After breaking through, resolutely curb the blind development of the “two highs” project.
Comparing the statement of “Orderly advance carbon peaking and carbon neutralization” in the Politburo meeting on April 30, it can be found that the content of carbon peaking and carbon neutrality has increased significantly in this meeting.
Not only that, the meeting also emphasized the need to “correct the campaign to reduce carbon.” Zhao Wei, chief economist of Kaiyuan Securities, analyzed the reporter of “Daily Economic News”. This may mean that some places have completed tasks for short-term surprises too quickly. “Carbon reduction” behavior. This behavior can easily lead to conflicts between commodity supply and demand, and the resulting high raw material costs will affect the production and operation of enterprises.
The Politburo meeting clearly mentioned once again that “it is necessary to adhere to the positioning that houses are used for living, not for speculation”, and mentioned that the development of rental housing should be accelerated, and supporting policies such as land use and taxation should be implemented.
Yan Yuejin, research director of the Think Tank Center of the E-House Research Institute, analyzed this to reporters. A big highlight of the meeting was to propose support for land use and taxation to better develop rental housing. Accordingly, follow-up can pay attention to changes in the land market and taxation field. For example, in the future, there will be various types of land guarantees in terms of dual centralized land supply, especially in the process of high-priced land acquisition by real estate companies. It is necessary to better understand content such as self-sustainment and construction of affordable rental housing. At the same time, it is necessary to understand taxation support, especially when real estate enterprises participate in the reform of the leasing market, they will enjoy tax reductions to truly activate the vitality of market entities and better participate in the development of the leasing market.
(Edit: Wen Jing)
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