The Politburo meeting of the CPC Central Committee held on April 30 pointed out that it is necessary to make good use of the window period with less pressure to stabilize growth, promote economic stability and improvement, concentrate on deepening supply-side structural reforms, and open up the domestic cycle, domestic and international cooperation Circulation block points provide continuous impetus for my country's economic development during the "14th Five-Year Plan" period.
Breaking through the blocking points is crucial to building a new development pattern.
Where are the blocking points in building a new development pattern?
Just in the modern circulation system.
Tighten the main line of supply-side structural reform, pay attention to demand-side management, link production, distribution, circulation, and consumption, and form a higher-level dynamic balance of demand-driven supply and supply-created demand. Only in this way can the overall national economic system be improved. efficacy.
If production, distribution, exchange, and consumption cannot be connected, a dynamic balance cannot be formed; without the support of a modern circulation system, the overall efficiency of the entire national economy cannot be improved.
During the epidemic, the first to resume work and production is the investment enterprise, then the business, the market, and then the school. The order depends on the circulation restrictions.
Most people cannot move, and it is difficult for consumption to go up.
If the problems of modern circulation, including business flow, logistics, capital flow, information flow and human flow, are not solved, the great cycle of the national economy cannot be realized smoothly.
There are multiple links in the domestic circulation.
Due to technical reasons, the competitiveness of products is not strong, and they are often "stucked"; due to "excessive" production, prices fluctuate drastically, and "high yield without increasing income" dampens the enthusiasm of producers.
The proportion of middle-income groups is relatively small, low-income groups cannot form effective demand, and the contradiction between efficiency and fair distribution greatly hinders the economic cycle.
The circulation link has high cost and low efficiency, and the cost is significantly higher than that of other developing countries and higher than that of developed countries.
The regulations on overloading vehicles, the standard requirements for trucks entering urban areas, and the definition of transportation of fresh and live agricultural products are different from place to place, and various fines increase the cost.
Shipping, railway transportation and road transportation have different standards, which require transshipment and must be repacked and packaged, which also increases costs.
Consumption is the "ballast stone" of economic development and the end of the entire cycle. However, the current savings rate is too high and the consumption rate is too low. Once a large proportion of savings is not effectively converted into effective investment, it will inevitably hinder the economic cycle.
The blocking points of the international circulation are more complicated.
As an importer, my country mainly needs advanced international technology and its products. Whether developed countries are willing to export is very variable. Facts have proved that there are more and more "stuck necks".
In terms of exports, after my country became an upper-middle-income developing country, many developed countries blocked my country’s net exports, and there was basically no room for further expansion of corresponding product exports. This model of economic exchanges still has great uncertainty.
The key to breaking through the double-loop blocking point depends on institutional innovation.
In view of the blockage of the domestic big cycle, it is necessary to increase R&D investment and R&D support, firmly grasp independent intellectual property rights, and reduce the dependence on foreign imported chips, controllers and other core technologies.
Through measures such as the integration of urban and rural elements, the capitalization of rural land will be realized, the income of low-income groups will be increased, and the scale of middle-income groups will be expanded.
Reduce circulation costs, lower high-speed tolls, establish national unified standards in terms of transportation conditions, logistics vehicle load, and fresh product standards, eliminate regional differences and reduce logistics costs.
The key to stimulating household consumption is to reduce residents’ uncertainty about future expenditures and reduce precautionary savings.
This involves deepening reforms in housing, medical care, education, and pensions.
Deepen institutional openness, promote higher levels and higher standards of trade and investment liberalization and facilitation, implement the experience that can be replicated and promoted in free trade pilot zones in more regions, reshape international cooperation and new competitive advantages, and provide in-depth participation The international economic cycle creates conditions.
(Zhang Quanlin)