Xinhua News Agency, Beijing, April 9 Question: To build a more complete market-based allocation system for elements—Interview with the relevant person in charge of the National Development and Reform Commission
Xinhua News Agency reporter An Bei
"Opinions of the Central Committee of the Communist Party of China on Constructing a More Perfect Market-Oriented Allocation System for Factors" was announced on the 9th. This is a major reform plan to implement the spirit of the 19th National Congress of the CPC and the Fourth Plenary Session of the 19th Central Committee of the Communist Party of China.
Why should we promote the market-based allocation of factors? What are the important reform breakthroughs? The reporter interviewed the relevant person in charge of the National Development and Reform Commission.
Make up for the shortcomings of the market system and promote the construction of the factor market system
Question: What is the deep meaning of the central government's publication of a document to build a more complete system of factor-based market allocation?
Answer: The 19th National Congress of the Communist Party of China made the market-oriented allocation of factors one of the two key points of economic system reform. The Fourth Plenary Session of the Nineteenth Central Committee of the Party further emphasized the promotion of the construction of the factor market system to achieve factor price market decisions, independent and orderly flow, and efficient and fair allocation. The promulgation of opinions is of great significance for accelerating the improvement of the socialist market economic system, building a high-standard market system, and promoting high-quality economic development.
Improving the market-oriented allocation of factors is an objective requirement for deepening economic system reform and building a high-standard market system. After more than 40 years of reform and opening up, China ’s commodity market has developed relatively well, and more than 97% of the prices of goods and services are set by the market. Significant progress has also been made in the construction and reform of the factor market, but compared with the market for goods and services, the development of factor markets such as land, labor, capital, technology, and data is relatively lagging behind. The lagging construction of factor market rules has affected the market's decisive role in resource allocation, and has become a prominent shortcoming in the construction of a high-standard market system.
Improving the market-oriented allocation of factors is the fundamental way to resolve economic structural contradictions and promote high-quality development. The distortion of factor allocation is highly conductive and diffusive, resulting in a series of economic structural contradictions and problems. Accelerating market-oriented reform of factors is an important breakthrough for deepening supply-side structural reforms and solving deep-seated contradictions that constrain the overall situation. From the perspective of eliminating invalid supply, it helps to promote the clearing of “zombie enterprises” and release mismatched resources; from the perspective of cultivating new kinetic energy, it helps the flow of production factors from low-quality and low-efficiency areas to high-quality and high-efficiency areas, and supports the development of the real economy. Form an industrial system for collaborative development.
Perfecting the market-oriented allocation of factors is an important guarantee for the vitality of factors to burst out. It is necessary for enterprises to become independent market players to allocate factor resources. On the basis of perfecting government regulation and supervision, we must pay close attention to solving the problems of unclear factor property rights, imperfect market-oriented trading mechanism, and insufficient market development, to form an effective incentive mechanism, improve factor allocation efficiency and total factor productivity, and revitalize the “sleepy” Element resources rely on reform to stimulate the potential of element dormancy and make it a kinetic energy to promote economic development.
Therefore, the issuance of the document will have a long-term and fundamental impact on deepening the reform of the economic system. Under the current situation, it will also have important practical significance for hedging the impact of the epidemic and effectively stimulating the potential and vitality of various factors.
Classified strategy, step by step
Q: What is the overall consideration of the opinion?
A: The factor market is an important part of a modern market system that is unified, open, and orderly. However, in practice, different production factors have different attributes, and the reform progress varies greatly.
To promote the market-based allocation of factors, on the one hand, we must continue to expand the scope of factor-based market allocation and accelerate the development of the factor market; on the other hand, we must classify and implement strategies and build a more complete and step-by-step strategy based on different factor attributes, differences in marketization, and economic and social development needs. The market-based allocation system of factors.
Factors of production are different from attributes of commodities. For example, the factors of labor force are attached to the individual of the worker, and the elements of land naturally have a certain degree of publicity. Therefore, the construction of factor market cannot be completely equal to the construction of commodity market. In the process of promoting the market-based allocation of factors, we must deal with the relationship between the government and the market, insist on giving full play to the decisive role of the market, and better play the role of the government. Decide the scope of factor allocation, improve the rules of the system, and guide various factors to coordinate to the advanced productive forces.
Opinions are based on the commonality of all factors, and clarify the basic principles for the overall deepening of the market-oriented configuration reform of elements, that is, market decisions and orderly flow; sound systems, innovative supervision; problem-oriented, classification and strategy; progress in a steady manner, step by step.
Make use of data to multiply the efficiency of other factors
Q: Why is the data included in the scope of production factors?
Answer: The form of production factors is constantly changing with economic development. Land and labor were important factors of production in the agricultural era. After that, capital became an important factor of production in the industrial era, and it also spawned more factors of production such as technology and management. With the development of the information economy, the information resources represented by big data have evolved into the form of production factors. Data has been integrated with other factors into the process of economic value creation, which has a broad impact on the development of productivity.
The improvement of the attributes of data production factors is related to the long-term economic growth momentum and the future of the country's development. All countries in the world regard the promotion of economic digitization as an important driving force for innovation and development, and make forward-looking layouts in research and development of cutting-edge technologies, open data sharing, privacy and security protection, and personnel training. We must also promote the integrated development of the real economy and the digital economy, accelerate the development of the manufacturing industry towards digitalization, networking, and intelligence, use big data to improve the level of national governance modernization, and improve the ability to perceive, predict, and prevent risks.
According to the importance and timeliness of production factors, the opinion clarifies that the categories of factors are land, labor, capital, technology, and data. Using data as a new type of production factor, give full play to the multiplication effect of data on the efficiency of other factors, cultivate and develop the data element market, and make big data a new kinetic energy to promote high-quality economic development.
Strive for stability, improve the flexibility, coordination and adaptability of factor allocation
Question: What are the breakthroughs in the opinions on different element areas?
Answer: The opinion classification puts forward the direction of reform in five key areas:
In terms of land factors, we will focus on enhancing the flexibility of land management, flexible industrial land use methods, and flexible management of land planning indicators to meet the needs of economic and social development.
In terms of labor factors, we will focus on guiding the rational and smooth flow of labor factors, smooth settlement channels, and smooth job title review channels.
In terms of capital factors, efforts will be made to improve the multi-level capital market system, the basic system of the stock market, and the construction of unified standards for the bond market.
In terms of technical elements, we will focus on stimulating the vitality of technology supply, promoting the transformation of scientific and technological achievements, activating property rights incentives, and activating the vitality of technology transfer agencies and technology managers.
In terms of data elements, we will focus on accelerating the cultivation of the data element market and comprehensively enhancing the value of data elements.
In addition, the opinion proposes to accelerate the reform of the marketization of factor prices and improve the market operation mechanism, and to clarify the government's adjustment and supervision of factor prices and market operations.
Advance by stages, regions and steps
Question: How to promote the implementation of opinions?
Answer: First, establish a working mechanism. The National Development and Reform Commission took the lead in establishing a working mechanism to promote the construction of the factor market system to ensure that all key tasks were implemented.
The second is to grasp the main points of work. Sort out and refine recent reforms that are operational and can be implemented, and promote various reform measures to achieve results as soon as possible.
The third is to deepen basic reforms. Accelerate the transformation of government functions, break administrative monopolies, and greatly reduce the scope of direct government allocation of factors. Deepen the reform of state-owned enterprises and state-owned financial institutions to ensure that enterprises of all types of ownership have equal access to factors through market means such as competition.
The fourth is to focus on the pilot first. Under the premise of maintaining a unified national market, we will carry out pilot demonstrations of the reform of factor-based market allocation, incentivize localities to conduct pioneering and differentiated explorations, and provide institutional innovation experience for improving the factor-based market allocation.
The fifth is continuous tracking guidance. Strengthen follow-up analysis and coordination and guidance, study new situations, summarize new experience, solve new problems, and report major issues to the Party Central Committee and the State Council in a timely manner.