GDP grew by more than 6%, showing confidence and stability

  ■ Editorial

  Follow the National "Two Sessions" series of comments No. 3

  In the first year of the "14th Five-Year Plan", the GDP growth target was set to "6% or more", indicating that development is still an important proposition and setting the benchmark "speed" for economic growth in the next five years.

  On March 5, Premier Li Keqiang of the State Council stated in his government work report that the main expected goals for development this year are: GDP growth of more than 6%; more than 11 million new jobs in urban areas, and an urban surveyed unemployment rate of 5.5%. About; consumer prices rose by about 3%.

  Affected by the new crown pneumonia epidemic, the 2020 government work report did not propose a specific target for GDP growth. Why did the GDP growth target be reset this year?

This is first of all appropriate adjustments based on the economic recovery.

  In 2020, in the context of uncertain factors such as the new crown epidemic and the overall intensification of the strategic game of major powers, it is a pragmatic consideration not to propose a GDP growth target.

But for the whole of 2020, China's economy still achieved 2.3% growth, making it the only country with positive growth among major economies.

In the first two months of this year, my country's economy continued to maintain the momentum of rapid recovery.

The state of economic operations for more than a year shows that China is capable of coordinating epidemic prevention and economic development.

  The absence of GDP growth last year is a pragmatic judgment and changes with time. The resetting of the expected GDP growth target this year is also based on pragmatic judgment.

In the process of achieving the V-shaped reversal of the economy, we have also accumulated a wealth of experience in resolving uncertain risks, which has provided confidence and confidence for resetting the GDP growth target.

  Setting the GDP growth target at more than 6% shows not only confidence but also stability.

The year-on-year growth rate of China's economy was 2.3%. Taking into account the low economic base last year, as long as the economy runs normally this year, the economic growth rate will rebound substantially.

In fact, international organizations generally predict that China's economic growth rate will reach over 8% this year.

  If you indulge in statistically high growth, there may be two negative effects.

On the one hand, it is sticking to the current growth model, easing the pace of deepening reforms and accelerating technological innovation to build a new development pattern, which has delayed the progress of high-quality development.

On the other hand, it may lead to irrational allocation of factor resources, and funds that should be used for innovation and strategic industries are spent elsewhere.

  Therefore, setting an expected growth target of "over 6%" is also a reminder and a guide: the proposition of pursuing industrial upgrading and pursuing a new development pattern cannot be changed.

  In the GDP growth target set this year, there are two more words worth noting, that is, 6% "above".

In fact, this is once again delineating the range of reasonable economic operation.

In other words, 6% can be regarded as the lower limit. As long as the economic growth rate is above 6%, there will be no drastic adjustments in monetary and fiscal policies.

This helps stabilize market expectations and maintain policy continuity and stability.

  If you compare horizontally, you can find the importance of maintaining the continuity and stability of the policy.

Right now, the world's major economies have adopted unlimited stimulus policies in response to the epidemic and economic downturn.

The currency oversupply has already had various effects, such as the recent surge in commodity prices.

By clarifying the reasonable range of economic operation once again to clarify the predictability of policies, it will help China to maintain the initiative and initiative in the face of new uncertainties.

  We should also see that setting GDP growth targets this year is of special significance.

This year is the first year of the "14th Five-Year Plan". When setting economic targets for this year, we must not only consider this year's situation, but also make overall plans and predict the development of the next few years.

This is also an "additional function" of the economic target in the first year of each five-year plan.

  Setting the GDP growth target in this first year shows that development is still an important proposition. At the same time, it also sets a benchmark "speed" for economic growth during the "14th Five-Year Plan" period.

Since it is "speed", it is a dynamically adjusted indicator. Sometimes it can be faster or slower according to the actual situation, but the most critical role of setting "speed" is to emphasize the need to maintain the stability of growth and policies. The cohesiveness.

  What needs to be emphasized is that the newly set GDP growth target has different connotations from the past.

The new GDP growth target is more pragmatic and oriented, rather than rigidly pursuing speed.

Moreover, in the government work report, this goal is listed together with other expected goals.

Behind the expected GDP growth target are the livelihood-related indicators such as new urban employment and urban surveyed unemployment rate.

This shows that the purpose of GDP growth is to create conditions for achieving people's livelihood targets.

  In short, change with time, do not indulge in statistically high growth, strive to maintain policy continuity, set a benchmark rate for steady growth in the next few years, and target people’s well-being. These are the GDP set this year. The inner "language" of the growth target.