(Economic Observation) Why did the Central Economic Work Conference propose to set "traffic lights" for capital?
China News Service, Beijing, December 10 (Wang Enbo and Cao Nianrun) The Central Economic Work Conference was held in Beijing from December 8th to 10th.
The meeting pointed out that it is necessary to set "traffic lights" for capital, strengthen effective supervision of capital in accordance with the law, and prevent the brutal growth of capital.
Experts interviewed by a reporter from China News Agency said that this move is not just focusing on the "red light stop", but is intended to supervise capital in accordance with the law through a combination of dredging and blocking, and to promote the formation of a competitive and orderly market system.
The meeting stated that it is necessary to correctly understand and grasp the characteristics and behavioral laws of capital.
The socialist market economy is a great creation. There will inevitably be various forms of capital in the socialist market economy. It is necessary to give play to the positive role of capital as a production factor while effectively controlling its negative role.
How to understand the "dual nature" of capital?
Zhang Chenying, a member of the expert group of the State Council’s Anti-Monopoly Committee and director of the Competition Law Research Center of Tsinghua University Law School, believes that the positive role of capital is to play its attributes as a production factor and work with other factors to promote the development of social productivity, which is conducive to innovation and conducive to Promoting high-quality economic development is conducive to improving the well-being of the people.
On the contrary, failure to exert the above-mentioned effects, or even hindrance or counteraction, is its negative effect.
Take the Internet platform economy as an example. As an important part of advanced productivity, it plays an active role in optimizing resource allocation, promoting scientific and technological progress, facilitating people's lives, and participating in international cooperation and competition.
However, Su Jian, director of the National Economic Research Center of Peking University, also pointed out that there are phenomena such as monopoly and unfair competition in the Internet platform economy, which is a prominent manifestation of the negative effect of capital.
Su Jian cited, for example, that some Internet platform companies use their capital advantages to squeeze their competitors and harm consumers' interests "because of others' actions."
In addition, the platform has a large amount of user data, which also has data security and personal privacy protection issues.
In response to the above phenomenon, strengthening anti-monopoly and anti-unfair competition has become an important normalization task of the Chinese government for some time.
In particular, in view of the barbarous growth and disorderly expansion of some platform companies, the relevant parties have increased anti-monopoly supervision and investigated and dealt with the monopoly and unfair competition behaviors of relevant platform companies in accordance with the law to prevent the disorderly expansion of capital from seeing initial results, and the market is fair and competitive. Steadily improving.
However, Chen Daofu, deputy director of the Institute of Finance of the Development Research Center of the State Council, reminded that China is currently experiencing insufficient investment motivation and disorderly expansion of capital. Therefore, it is necessary to encourage capital to actively seek market opportunities, give full play to the entrepreneurial spirit, and increase investment. , It is necessary to prevent the brutal expansion of capital, avoid monopoly and improper integration of industry and finance.
At the same time, in the disorderly expansion of regulated capital, some worries have emerged in the market, which need to be corrected.
In this context, the interviewed experts pointed out that the Central Economic Conference's proposal to set a "traffic light" for capital means that under the framework of laws and regulations, the boundary between legality and illegality will be distinguished, and supervision and effective supervision will be carried out in accordance with the law.
In the words of Political Commissar Lu, chief economist of Industrial Bank and chief economist of Huafu Securities, this move helps to distinguish which areas are prohibited from entering and which areas are to encourage capital to spread their fist.
“Clarifying the rules in advance will help release the market’s vitality. By publishing the rules in advance, you don’t have to worry about accidents.”
"The effectiveness of supervision is reflected in: objective, fair, just, accurate, and timely." Regarding how the "traffic light" works, Zhang Chenying stated that the legal rules must first be clarified and clear and detailed through various guidelines, interpretations, and exemplary cases. To reform the rules, improve the transparency of legal rules, encourage capital to operate in compliance with regulations, and prevent problems before they happen. "In terms of corporate illegal costs, regulatory costs, and social costs, prevention is far better than ex post punishment."
Zhang Chenying further pointed out that secondly, we must supervise in accordance with the law and fair supervision, and adhere to the equal emphasis on development and regulation; thirdly, judge in accordance with the law, abide by the substantive and procedural rules, and punish illegal acts in accordance with the law, and treat them equally, combine special prevention with general prevention, and prevent gradual failure. Form a joint force of the whole society, improve the efficiency of production factors, and ultimately promote innovation and high-quality economic development to serve the people.
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