Stabilize the upward trend of manufacturing investment
Xiong Li
In the May economic data released by the National Bureau of Statistics, the "two-year average growth rate of manufacturing investment from negative to positive" attracted attention.
Data show that from January to May, manufacturing investment increased by 20.4% year-on-year, 5.0 percentage points higher than all investment; the two-year average growth rate was 0.6%, while from January to April it fell by 0.4%.
This shows that, as China's economy stabilizes and strengthens, manufacturing investment is accelerating to stabilize.
High-tech manufacturing investment has provided support for the growth of manufacturing investment.
In May, the added value of the high-tech manufacturing industry increased by 17.5% year-on-year, and the two-year average growth rate was 13.1%. The two-year average growth rate was 1.5 percentage points higher than that in April, which continued to drive industrial production.
From January to May, the two-year average growth of investment in high-tech industries was 13.2%, which was also significantly faster than the growth of total investment.
From the perspective of local conditions, industrial investment such as high-tech manufacturing is becoming the focus of investment.
my country's economy started from the real economy, and it also depends on the real economy to move towards the future.
To develop the real economy, we must do a good job in manufacturing.
Since the reform and opening up, my country’s manufacturing industry has made great achievements, but the situation of big but not strong and all but not good has not been fundamentally changed. Basic capabilities are still weak, key core technologies are restricted by others, and the proportion of manufacturing in GDP has fallen prematurely. , Too fast, weakened my country's economic anti-risk ability and international competitiveness.
To stabilize the manufacturing industry, it is necessary to stabilize investment in the manufacturing industry.
In recent years, the overall growth rate of investment in my country's manufacturing industry has shown a weak trend, which is the result of a combination of many factors.
From the perspective of investment model, under the new development format and new organizational model, some companies prefer small batches, individualization and strong R&D, and develop in the direction of light assets. After the efficiency is improved, they no longer simply pursue the intensity of investment; from the perspective of investment quality The conversion of the old and new kinetic energy of the manufacturing industry itself requires a process. The sudden new crown pneumonia epidemic has severely impacted both ends of supply and demand. The liquidity of manufacturing enterprises is tight, and investment capacity and investment confidence are all affected.
At present, as China's economy continues to recover, factors conducive to the recovery of manufacturing investment are accumulating and increasing, and companies' expectations of the market have also maintained a good level.
However, it must be noted that the average growth rate of 0.6% in manufacturing investment in two years is still relatively low. There are still many external uncertain and unstable factors. The uneven growth of industries and enterprises is still prominent. The rise in commodity prices is still relatively low. The influence of mid- and downstream industries has increased, and further measures must be taken to stabilize the recovery of manufacturing investment.
Continue to provide financing support for the upgrading and development of the manufacturing industry.
The particularity of manufacturing production determines its large demand for medium- and long-term funds. It is necessary to focus on increasing independent and controllable medium- and long-term credit support for advanced manufacturing, strategic emerging industries, and industrial chain supply chains, increasing technological innovation loans, and promoting Equity investment and bond financing are tilted towards manufacturing.
We will implement fiscal, taxation and financial policies, and earnestly benefit manufacturing companies from the red envelopes of tax reduction and fee reduction.
Promote the recovery of private investment as soon as possible.
More than 80% of manufacturing investment is private investment. When private investment is good, manufacturing investment can go up. The two are closely related.
From January to May this year, private investment increased by 18.1% year-on-year; the two-year average growth rate was 3.7%, an increase of 0.8 percentage points from January to April.
Among them, private investment in manufacturing increased by 22.0%.
It is necessary to actively expand the investment space of private enterprises, give better play to the role of private and small and medium-sized enterprises in manufacturing investment, encourage enterprises to increase investment in technological transformation, use advanced and applicable technologies to upgrade traditional industries, and promote major innovative technologies and product applications, and basic industrial capabilities. Upgrade and growth of new kinetic energy to increase labor productivity.
The most urgent task is to follow the requirements of the Party Central Committee and the State Council, attach great importance to the adverse effects of rising commodity prices, continue to strengthen market regulation, ease the cost pressure of manufacturing enterprises, and enhance business investment confidence.
Xiong Li