What signals are released by the intensive start of major projects

  Our reporter Gu Yang

  At the beginning of the new year, many places have made efforts to stabilize investment, and a number of major projects have entered an intensive start period.

  On January 4, the first working day of the new year, 64 major projects in Shanghai started intensively, covering integrated circuits, biomedicine, artificial intelligence, online new economy, aerospace and rental housing, sewage treatment and other fields, with a total investment of over 2,700 Billion

  On the same day, the first batch of 209 major projects of more than 100 million yuan in Zhengzhou, Henan Province started at the same time. The projects are closely linked to the ecological protection and high-quality development of the Yellow River Basin, industrial transformation and upgrading, new infrastructure, social people's livelihood and other key areas, with a total investment of 138.11 billion yuan.

  The reporter combed through the data and found that in addition to Shanghai and Zhengzhou, Xianyang in Shaanxi, Jingzhou in Hubei, Yibin in Sichuan, Changsha in Hunan, and Zhongshan in Guangdong all ushered in the intensive start of major projects.

  "These major projects include not only projects to make up for shortcomings in the field of infrastructure, but also strong and weak projects in the field of industrial development, forging long-board projects, as well as projects for people's livelihood development and ecological environmental protection. They reflect the new requirements for building a new development pattern and conform to the people. The people's new needs for a better life." said Wu Yaping, director of the Institutional Policy Office of the Investment Institute of China Macroeconomic Research Institute.

  Special bonds drive effective investment

  Under the new crown pneumonia epidemic, the Chinese economy has shown sufficient resilience due to major projects.

Since 2020, under the guidance of the new development concept, a number of major projects and major projects have been implemented in various regions, and initial results have been achieved.

  Taking Shanghai as an example, two-thirds of the 64 major projects that were started this time were signed at the Shanghai Major Industry Concentration Signing Ceremony on March 31, 2020, and they were signed and landed that year.

In the context of accelerating the construction of a new development pattern, these major projects are the first to "start", which is expected to inject strong momentum into Shanghai's "14th Five-Year Plan" high-quality start.

  In fact, major projects are the "accelerators" of economic development, and speeding up the construction of major projects and expanding high-quality investment has always been one of the keys to steady growth in various regions.

In this process, special bonds have played an active guiding role.

  According to reports, in response to changes in the external environment and the impact of the new crown pneumonia epidemic, my country’s new local government special bonds will be 3.75 trillion yuan in 2020, an increase of 1.6 trillion yuan from 2019. At the same time, the special bonds can be used as project capital. The proportion of gold is focused on supporting the construction of the "two new and one heavy" construction that not only promotes consumption and benefits the people's livelihood, but also adjusts the structure to increase stamina, as well as the construction of local public health and epidemic prevention systems.

  "From the actual effect, the special bond issuance has driven the increase of effective investment in various regions, supported the needs of making up for shortcomings and expanding domestic demand, and has played a positive role in maintaining the smooth operation of the industrial chain supply chain, and coordinating the prevention and control of the epidemic and the economic and social development. Promotion." Wu Yaping said.

  Wu Yaping said, judging from the recent major projects started in various places, the previous policy orientation has basically continued.

2021 is the first year of the "14th Five-Year Plan". Stable Investment will focus more on optimizing the investment structure, and put more emphasis on making up for shortcomings, strengths and weaknesses, and benefiting the people's livelihood. This will also be in the construction of major projects in various regions. Be reflected.

  Focus on tapping emerging consumption potential

  "Under the requirements of building a new development pattern, this year my country will focus on improving the quality of the supply system, effectively strengthening demand-side management, firmly grasping the strategic basis of expanding domestic demand, and accelerating the cultivation of a complete domestic demand system." Ning Jizhe, deputy director of the National Development and Reform Commission He said in an exclusive interview with a reporter from Economic Daily.

In fact, the above deployment points out the direction for expanding effective investment and speeding up the construction of major projects in 2021.

  According to reports, in terms of improving the quality of the supply system, my country will start with the construction of an innovation system, focusing on the creation of an independent and secure industrial chain supply chain, key core technology research, the development of national strategic emerging industrial clusters, food security, modern seed industry improvement, and black soil A number of major projects have been initiated in areas such as protection to solve a number of "stuck neck" problems as soon as possible.

  "For example, the industrial chain, as one of the policy keywords in 2021, has been mentioned in the work deployment of various ministries and commissions such as the National Development and Reform Commission, the Ministry of Industry and Information Technology, and the Ministry of Science and Technology. The deep integration of the industry and the creation of a new industrial chain will become an important focus for stable investment this year." Wu Yaping said.

  In terms of practically strengthening demand-side management, my country will focus on tapping emerging consumption potential, expanding effective investment around the “two new and one heavy”, systematically deploying new infrastructure, comprehensively promoting the transformation of old urban communities, and accelerating the Sichuan-Tibet railway and new land-sea corridors in the west. The construction of transportation projects, the implementation of the backbone of the national water network, and the acceleration of the construction of 150 major water conservancy projects including major water diversion and diversion across rivers and regions.

  "In 2021, a series of targeted measures will be launched focusing on new consumption, regional consumption center construction, rural consumption, consumption supply and other directions. For example, in terms of tapping the potential of emerging consumption, the "Implementation Plan for Accelerating the Cultivation of New Consumption "Wait." Ning Jizhe said.

  Deep reform to stimulate the vitality of private investment

  The construction of major projects is connected with economic development at one end and people's livelihood guarantee at the other. It is an important starting point for adjusting the structure to promote transformation and lay the foundation to increase stamina.

Meng Wei, a spokesperson for the National Development and Reform Commission, said that in 2021, we will continue to promote the implementation of key tasks for replenishing shortcomings and stabilizing investment. The investment in the project has continuously deepened related reforms and stimulated the vitality of private investment.

  As my country's economic operation gradually returns to normal, some temporary relief policies will be withdrawn safely, and investment policies will be adjusted accordingly. Will the implementation of major projects be affected?

In this regard, Ning Jizhe said that the investment within the central budget and local special construction bonds will remain generally stable. On this basis, the special bond projects will be actively carried out and work hard to form more physical workloads.

  Wu Yaping suggested that under the premise of maintaining the continuity, stability and sustainability of macroeconomic policies, it is necessary to promote the innovation of major project investment and financing models, promote the formation of a joint force between the government and the market, and make good use of relevant national PPPs, government special bonds, corporate bonds, In the field of infrastructure, real estate investment trust funds (REITs) and other policy tools continue to improve the investment and financing systems and mechanisms, promote the diversification of investment and financing methods, and accelerate the implementation of major projects.

  “The process of implementing major projects is also a process of further expanding investment development space, which will help promote the steady growth of investment and the optimization and adjustment of its own structure. In the future, it is necessary to give full play to the key role of investment in optimizing the supply structure. To be a strong engine and hard support, it will help my country's economy to achieve higher quality development." Wu Yaping said.