[Comments on the New and Great Country Economics] "Effective Investment" Targeted Policy "Two New and One Heavy"
Investment is connected with demand at one end and supply at the other. It is an important variable of consumption and an important content of supply. Expanding effective investment and directing funds to areas where supply and demand benefit together and having a multiplier effect are not only conducive to expanding demand, stimulating economic growth, but also helping to further improve the quality and level of supply, optimize the supply structure, and better meet the needs of consumption upgrades To achieve a good situation in which supply and demand are mutually reinforcing.
In response to the expansion of effective investment, the government work report puts emphasis on supporting the construction of "two new and one important" that not only promotes the consumption and benefits the people's livelihood, but also adjusts the structural growth. New infrastructure construction, new urbanization construction, transportation, water conservancy and other major engineering constructions will closely integrate investment and meet the people’s longing for a better life, and other goals. For us to do "six stability" work, implement " The "six guarantees" mission has an important role.
New infrastructure: tap new growth points
Not long ago, the National Development and Reform Commission clarified the scope. The new infrastructure is guided by new development concepts, driven by technological innovation, based on information networks, and oriented to high-quality development needs. It provides infrastructure for digital transformation, intelligent upgrades, and integrated innovation. system. Specifically, it includes information infrastructure, converged infrastructure, and innovative infrastructure.
The new infrastructure is aimed at these three areas, not only because of the "newness" of emerging industries, but also to explore new growth points. Taking 5G as an example, according to estimates, by 2025, China's investment in 5G network construction will reach 1.2 trillion yuan, creating about 3 million jobs. It is expected that by 2030, direct output and indirect output driven by 5G will be 6.3 Trillion yuan and 10.6 trillion yuan. Statistics show that 5G, artificial intelligence, industrial Internet and other new-generation information technologies have investment multiplier effects of up to 6 times. It is expected that by 2025, the new infrastructure will create an industrial scale of 8.3 trillion yuan for my country's information consumption.
Since the beginning of this year, from the intensive deployment of the central government to the local active response, from the active investment of enterprises to the enthusiasm of the capital market, the new infrastructure has taken the lead. Jiangsu formulated policy opinions on accelerating the promotion of digital new infrastructure to expand information consumption and support the development of 5G networks; Fujian announced key projects for the digital economy in 2020, including 52 digital new infrastructure projects with a total investment of 72.9 billion yuan; Shanghai issued a new infrastructure action plan, The first batch of major projects has invested 270 billion yuan in three years... New planning, new exploration, and new potential driven by new infrastructure will "flower more." In the future, relevant departments, while conducting policy guidance and stabilizing the source of construction funds with fiscal and taxation policies, should open more to social capital, stimulate private investment enthusiasm, and form a diversified new infrastructure investment and financing system.
New urbanization: adapt to the needs and make up for shortcomings
Strengthening the construction of new-type urbanization is conducive to ensuring the basic livelihood needs and effectively increasing the income of urban and rural residents; the investment in livelihood infrastructure will bring continuous investment growth and become an important potential to boost domestic demand. The government work report proposes to strengthen the construction of a new type of urbanization and vigorously improve the county's public facilities and service capabilities to meet the increasing demands of farmers for employment and settlement in the county. New construction started to renovate 39,000 old town communities, support pipe network renovation, and install elevators, etc., and develop various community services such as home care, meals, and cleaning.
All the work of renovating old communities in cities and towns has started in full swing. The Beijing Municipal Housing and Urban-Rural Development Commission, in conjunction with the Municipal Planning and Self-government Committee and the Municipal Finance Bureau, jointly issued the "Working Plan for Comprehensive Renovation of Old Communities in 2020", clarifying that 80 comprehensive remediation projects for old communities will be started during the year, and the comprehensive renovation projects for old communities will be completed. 50, completed fixed asset investment of 1.28 billion yuan; Qinghai Province plans to implement renovation of 472 communities with a total of 50,900 units. As of the end of June, 180 communities have been started with 19,400 units, with an operating rate of 38.11%; Chongqing has requested that it is old The renovation of the community should be synchronized with the improvement of community services, excavate the cultural context and collective wisdom of the community, create a distinctive humanities community, and form a good atmosphere for community construction and governance...
To meet the needs, the common people need to transform what they need. Renovation of old communities is a supply-side structural reform, not only the renovation of hardware facilities, but also the improvement of public services. In addition to the renovation of old communities, the city's development quality and comprehensive carrying capacity can also be improved by making up for shortcomings in transportation infrastructure, information infrastructure, drainage and waterlogging prevention facilities, and other aspects. It is worth noting that accelerating the construction of new-type urbanization is not a blind project. Rather, we should insist on doing our best and doing our best to prevent the appearance of rotten buildings and "half-pulling" projects.
Major project: picking the beam in steady growth
At present, the epidemic situation of New Coronary Pneumonia is spreading globally, the uncertainty of the international market is increasing, and some domestic industries are also facing insufficient demand. When exports and consumption are affected to varying degrees, we need to make more use of investment to stimulate the economy. Among them, the most direct, effective, and reliable investment is in infrastructure construction. Major projects have a strong direct pulling force and can pick up beams in steady growth. According to estimates, every 100 billion yuan investment in major water conservancy projects can drive GDP growth by 0.15 percentage points and create 490,000 new jobs.
On April 30, the first unit of the Datengxia Water Control Project, known as the "Three Gorges Project" on the Pearl River, was put into operation and power generation, and the second phase of the project was advancing non-stop; on May 30, with the last long steel structure member closing, The main structure of the Beijing-Shenzhen High-speed Railway Spark Station (later renamed Beijing Chaoyang Station) was successfully capped, laying the foundation for reaching traffic conditions at the end of the year; on June 17, after 34 hours of continuous operation, the world’s first two-way eight-lane steel shell immersed tunnel ——The first section of immersed pipe in the Shenzhong Passage successfully laid down on the seabed and successfully connected with the artificial island in the west... A major project in the north and south of the country is stepping up construction, which will help accelerate the investment of infrastructure construction.
At present, my country's per capita infrastructure stock is only 20%-30% of that of developed countries. There are many shortcomings in infrastructure areas such as transportation, water conservancy, social and people's livelihood, and investment in related fields still has great room for improvement and potential. In the future, major project construction should focus on the needs of the people, focus on making up for shortcomings, improve the quality and efficiency of development, and avoid repeated construction and waste of resources. In addition, we must give full play to the traction of new generation information technology, promote the integration of new infrastructure and traditional infrastructure, improve the efficiency of resource element allocation, and strive to maximize the effectiveness of infrastructure. (Economic Daily News-China Economic Net Nian Wei)