Securities Times Two Sessions Reporting Group
The GDP growth target is 5.5%, the unemployment rate target is constrained to be within 5.5%, the new combined tax and fee support policy is implemented, and the innovation-driven development strategy is implemented in depth… The government work report has made a three-dimensional economic development. The layout released a positive signal and sparked heated discussions among the delegates.
For the economic work in 2022, “stable” is the basic plan, and “progress” is the key word. The delegates believed that the 5.5% GDP growth target boosted confidence and demonstrated the government’s determination to stabilize the economy. At the same time, the key to stabilizing the overall situation is stabilizing the economy. The premise of stabilizing the economy is stabilizing the market players. Stabilizing the private economy still requires a lot of hard and meticulous work. It is necessary to create a good environment for “releasing water and raising fish, and more water and more fish”. This year’s economic and social development has heavy tasks and challenges, and the science and technology manufacturing industry has to shoulder its responsibilities, forging long plates, making up for shortcomings, breaking through bottlenecks, and ensuring that China’s industrial chain and supply chain are independent and controllable.
Medium-to-high-speed growth target boosts confidence
The GDP growth target of around 5.5% is significantly higher than the forecast of some international institutions such as the International Monetary Fund. It is a medium-to-high-speed growth on a high base.
Zhang Lianqi, a member of the Standing Committee of the National Committee of the Chinese People’s Political Consultative Conference, said that the goal of setting a GDP growth rate of about 5.5% this year is mainly to consider the need to stabilize employment, protect people’s livelihood and prevent risks. It can be expected that by striving for better results in actual work, an increase of more than 5.5% is expected to be achieved.
Tu Guangshao, member of the National Committee of the Chinese People’s Political Consultative Conference and executive director of the Shanghai Advanced Institute of Finance of Shanghai Jiaotong University, said that the economic indicators set in the government work report highlight enthusiasm and stability. Challenging but more confident and grounded. Macro policies emphasize pertinence and effectiveness, and relevant policy measures can provide good support for the achievement of major expected goals.
Anticipation is stable and confident. Li Dongsheng, deputy to the National People’s Congress and founder of TCL, said that the target of 5.5% GDP growth is positive and pragmatic and very challenging, showing the world the resilience and endogenous power of China’s economy and the Chinese people’s ability to achieve the “Centennial Goal”. determination and confidence.
Zhou Hongyi, a member of the National Committee of the Chinese People’s Political Consultative Conference and founder of 360 Group, said that this year’s government work report emphasizes stabilizing the macroeconomic market, deploying a series of policies that will help stabilize growth, pointing out the direction for the development of his industry and greatly enhancing technology companies. development confidence.
To achieve a growth rate of about 5.5% this year, we will have the foundation to expand employment and increase income, and the economy will be able to maintain a reasonable range. In terms of risk prevention, Xi Guohua, member of the National Committee of the Chinese People’s Political Consultative Conference and general manager of CITIC Group, suggested that we should pay attention to internal risks and external risks. External risks are mainly liquidity risks and geopolitical risks.
Stabilizing market players requires hard work
This year’s economic work should put stable growth in a more prominent position, focusing on stabilizing employment, protecting people’s livelihood and preventing risks. Zhang Xiaolian, deputy director of the Economic Committee of the National Committee of the Chinese People’s Political Consultative Conference, said that the key to stabilizing the overall situation is stabilizing the economy, and the premise of stabilizing the economy is stabilizing market players. The private economy is an important new force in my country’s market entities, and a lot of hard work needs to be done to stabilize the private economy. It is necessary to create a market-oriented and law-based international business environment, protect the property rights of enterprises, the right to independent management and the legitimate rights and interests of entrepreneurs in accordance with the law, and stimulate the vitality of private economic development.
Zhang Lianqi said that the government work reports for 2020 and 2021 use “green hills” as a metaphor for market players, releasing a strong signal of stable expectations. In 2022, it is mentioned that “giving charcoal in the snow and bringing vitality”. Support policies for small and micro enterprises and individual industrial and commercial households, the extension of the extension, the expansion of the expansion. Increase the value-added tax credits and refunds, strengthen the policy of super-deduction of R&D expenses for small and medium-sized technology-based enterprises, implement accelerated depreciation of fixed assets, and support scientific and technological innovation and industrial upgrading.
Zhang Lianqi suggested that it is necessary to strengthen the protection of property rights and intellectual property rights, effectively deal with malicious delinquency of accounts and evasion of debts, and create a good environment for enterprises of various ownerships to compete for development. Accelerate the implementation of policies, promote the spirit of entrepreneurship, boost the confidence of market players, and create a good environment for “releasing water and raising fish, with more water and more fish”.
According to the arrangement of the government work report, the scale of central-level fiscal expenditure this year will be expanded by more than 2 trillion yuan compared with last year, and the implementation of a prudent monetary policy will be stepped up to effectively bring out the key role of investment.
Yang Changchang, a member of the National Committee of the Chinese People’s Political Consultative Conference and chief economist of Shenwan Hongyuan Securities, believes that to achieve growth of about 5.5% this year, we should focus on solving the problem of financial imbalance between the east and west, especially the large regional gap in land fiscal revenue. Rationally plan major projects, strengthen central coordination, regional coordination, optimize the design of special bonds, expand the scope of special bonds, and use more special bond financing opportunities for projects in need. Adjusting the assessment of financial expenditure indicators for people’s livelihood should be linked to the personal experience of the people. For example, when assessing financial expenditure for people’s livelihood, daily expenditures of public institutions should be excluded, and only inclusive welfare expenditures for low-income and poor groups should be retained.
High-quality development requirements are not relaxed
The government work report proposes to further implement the innovation-driven development strategy to consolidate and strengthen the foundation of the real economy. Promote scientific and technological innovation, promote industrial optimization and upgrading, break through supply constraints, and rely on innovation to improve the quality of development.
Li Dongsheng believes that it is the duty of enterprises to promote technological innovation. Under the current situation, we can only take the road of self-reliance and self-improvement in science and technology, and we must break through the key core technologies that are “stuck in the neck”, such as integrated circuits, precision materials, core devices, high-end equipment and other fields. The government work report proposes measures to further support the development of science and technology and manufacturing, which will vigorously promote the development of high-tech manufacturing. The science and technology manufacturing industry should also take responsibility, forging long plates, making up for short plates, breaking through bottlenecks, and ensuring the independent and controllable supply chain of China’s industrial chain.
Yang Yan, deputy to the National People’s Congress, director and senior engineer of the Nickel-Cobalt Research and Design Institute of Jinchuan Group Corporation, said that at present, the country is moving towards the goal of a manufacturing power, a transportation power, and a aerospace power. Based on this, strengthen the construction of the State Key Laboratory of Nickel and Cobalt through optimization and reorganization, overcome the technical difficulties in the development of advanced functional materials such as the comprehensive utilization of nickel and cobalt resources, new energy materials, clean energy and energy storage materials, and nickel-cobalt superalloys, and improve the development of nickel and cobalt in my country. The independent guarantee capability of cobalt metal and strategic materials leads the technological development direction of my country’s nickel-cobalt industry and contributes to high-quality economic development.
Li Zhiqiang, member of the National Committee of the Chinese People’s Political Consultative Conference, deputy secretary of the Party Committee and president of the China Aviation Manufacturing Technology Research Institute of China Aviation Industry Corporation, believes that building a modern aviation vocational education system is of great significance to implementing the national strategy and supporting the high-level development of the country’s high-end manufacturing industry. It is suggested to speed up the construction of a modern aviation vocational education system to support the high-level development of the national high-end manufacturing industry.
The government work report also proposes to strengthen the comprehensive management of the ecological environment and promote the carbon neutralization work in an orderly manner. Chen Xiuyan, member of the National Committee of the Chinese People’s Political Consultative Conference, deputy chief economist of the State Grid Corporation of China and director of the Central China Branch, believes that three aspects should be paid attention to in promoting green and low-carbon development. First, new energy development plans at all levels lack coordination between regions and industries. The second is the mismatch between new energy development and power grid construction. The planned new energy installed capacity of the State Grid operation area reaches 1.3 billion kilowatts, and some areas far exceed the consumption capacity. Third, the support capacity of new energy sources is insufficient. Only about 8% of photovoltaic and wind power can be included in the power balance, especially in winter.
Xi Guohua suggested that the adjustment of the structure should find a good balance between economic growth and the “dual carbon” policy. The implementation of “two-carbon” assessment flexibility adjustment requires the improvement of innovation capabilities. In the case of coal-based, energy conservation and emission reduction, as well as the development of carbon recovery and its derived technologies, are a long-term topic.