Mid-Year Economic Observation: Accurate and effective, how to stabilize investment?
Xinhua News Agency, Beijing, July 20. Investment growth in the second quarter turned from negative to positive! According to data from the National Development and Reform Commission, the national fixed asset investment in the second quarter increased by 4.8% year-on-year, and the growth rate rebounded by 20.9 percentage points from the first quarter.
Intensify the "two new and one heavy", focus on making up for shortcomings, strengths and weaknesses, and mobilize the enthusiasm of private investment... In the face of the severe test brought by the new crown pneumonia epidemic and the complex and changeable domestic and foreign environment, China is actively expanding effective investment for the economy High-quality development injects sustained momentum.
Growth rate turned positive in the second quarter, and investment rebounded further
An investment of 45.66 billion yuan in the central budget was issued to support the strengthening of public health prevention, control and treatment capabilities, 16.5 billion yuan to support the construction of high-standard farmland, and 520 million yuan was urgently issued in two batches to support flood-damaged projects and post-disaster reconstruction in 8 provinces severely affected areas... …Recently, investment in the central budget has been intensively issued.
"Concentrate efforts on major, difficult and urgent matters. Up to now, the central budget has issued more than 90% of the investment, which has played a positive role in guiding and leading the shortcomings and stabilizing investment." said Yuan Da, a spokesperson for the National Development and Reform Commission.
The overseas epidemic is still spreading, the world economy is struggling to restart, and the recovery of domestic demand is somewhat restricted. Expansion of effective investment will help stimulate domestic demand in the short term and promote the development of upstream and downstream industries; in the long term, it will improve supply, smooth the domestic cycle, and promote sustainable economic and social development.
In early June, the Shanghai-Suhu Railway, a major project for integrated development in the Yangtze River Delta, started. With a total investment of about 38 billion yuan, this railway connects Shanghai, Jiangsu and Zhejiang in series, and connects with Shanghe-Hangzhou Railway in Huzhou, connecting Anhui and becoming an intelligent artery connecting the east and west regions of the Yangtze River Delta.
In the current China, new urbanization and rural revitalization resonate at the same frequency, the country's major regional strategies are being pushed forward, and residents' consumer demand continues to be released...There is a huge investment space around supply enhancement and consumption upgrade.
Data show that in the first half of the year, national fixed asset investment fell by 3.1% year-on-year, but the rate of decline narrowed month by month, and the trend of investment recovery was further manifested.
——The adjustment and optimization of investment structure accelerated. In the first half of the year, investment in high-tech industries increased by 6.3% year-on-year, and investment in the social sector increased by 5.3%, both significantly higher than all investment;
——The number of regions with positive investment growth has steadily increased. In the first half of the year, 22 provinces achieved positive growth, of which 6 provinces achieved growth of more than 5%;
——Investment stamina increased. The planned total investment of newly started projects fell 47.1% from January to February, and quickly rebounded to an increase of 13.5% in the first half of the year.
Accurately focus on "two new and one heavy" to open up development space
The executive meeting of the State Council held on July 8 studied the construction arrangements for 150 major water conservancy projects this year and in the future, focusing on flood control and disaster reduction, optimal allocation of water resources, and water ecological protection and restoration.
"The total project investment is 1.29 trillion yuan, which can drive direct and indirect investment of 6.6 trillion yuan and create an average of 800,000 new jobs per year." said Su Wei, deputy secretary-general of the National Development and Reform Commission.
Strengthen the construction of new types of infrastructure, strengthen the construction of new types of urbanization, and strengthen the construction of major projects... Focus on the "two new and one heavy", stable investment and continuous efforts.
The chaotic building was demolished, the "cobweb" antenna was straightened out, and the "garbage mountain" turned into a leisure square...Looking at the changes in the surrounding environment, the elderly Wang Yanping, who lives in Miansan Community, Guang'an Street, Chang'an District, Shijiazhuang City, Hebei Province, was in a happy mood : "I have lived here for more than 60 years, and my life is getting better and better."
Miansan Community was built in the 1950s and currently has more than 3,700 residents. Since 2018, Shijiazhuang has implemented remediation actions for old communities, and the Miansan community has been rejuvenated.
"Incorporate the most concerned, most direct and realistic demands of residents into the content of the renovation, and strive to renovate the old community into a beautiful community with a clean environment, complete functions, adequate management and protection, and owner satisfaction." said Zhao Jianlin, director of the Shijiazhuang Municipal Housing and Construction Bureau.
Selecting the areas where the masses have a strong response and making efforts to "short-board" people's livelihood can achieve multiple effects such as stabilizing investment, adjusting structure, and benefiting people's livelihood.
County towns are an important space for my country to promote industrialization and urbanization. Recently, the National Development and Reform Commission has introduced measures to speed up the urbanization of county towns by promoting the promotion of public service facilities, upgrading and expansion of environmental sanitation facilities, upgrading and upgrading of municipal public facilities, and improving the quality and efficiency of industrial cultivation facilities. Work to make up for shortcomings.
"Focus on key links such as the country's major strategy,'two new and one heavy' and shortcoming areas, precise fundraising, precise projects, precise policy implementation, and further play the key role of investment." Yuan Da said.
Deepen reform to mobilize the enthusiasm of private investment
Recently, Tencent’s Yangtze River Delta Artificial Intelligence Supercomputing Center and Industrial Base project started in Songjiang District, Shanghai. After being put into use at the end of 2021, the supercomputing center will become the largest in the Yangtze River Delta and the top three artificial intelligence supercomputing hubs in the country.
"The reason for being settled in Songjiang is that in addition to the location advantage that Songjiang is an important part of the G60 Science and Technology Corridor in the Yangtze River Delta, there is also the business environment here." said Dao Feng, vice president of Tencent Cloud. It took 58 days from the signing of the contract on March 31 this year to the delisting of the land and the acquisition of the land certificate on May 27; and three days later, the project obtained the construction permit.
Improving the market-based investment and financing mechanism, creating a good business environment, supporting the equal participation of private enterprises, and better attracting private investment are the keys to maintaining investment stamina.
Statistics show that private investment in the first half of the year fell by 7.3% year-on-year, and the rate of decline narrowed by 2.3 percentage points from January to May. Continuous efforts are needed to mobilize the enthusiasm of private investment.
Active fiscal policies provide financial support for stable investment. As of mid-July, the 3.75 trillion yuan of new local government special bonds approved by the National People's Congress had issued 2.24 trillion yuan and spent 1.9 trillion yuan, all of which were used to make up for shortcomings in major construction.
Yuan Da said that the next step is to speed up the issuance of investment plans within the central budget, insist on "funds follow projects", and promote the implementation of special bond funds to specific projects as soon as possible; supervise and guide localities to strengthen major construction in accordance with the requirements of "elements follow projects" Project land security; strengthen the reserve of major projects and accelerate the progress of project construction. (Xinhua News Agency reporters An Bei, Gong Wen, Yan Qilei)