The recently held symposium of experts and entrepreneurs proposed to better play the role of domestic demand in driving economic growth, and pointed out that multiple measures should be taken to improve residents' income and consumption capacity and release consumption potential.
The author believes that to cope with the triple pressures of shrinking demand, supply shocks, and weakening expectations faced by economic development, it is necessary to attach great importance to stabilizing residents' income and take multiple measures to improve residents' income levels.
The level of residents' income reflects not only the operation of market entities, but also the basic situation of social consumption potential.
In 2021, the per capita disposable income of national residents will be 35,128 yuan, a nominal increase of 9.1% year-on-year, and an average nominal growth of 6.9% in the two years, which is faster than the growth rate of per capita GDP.
From the perspective of income categories, wage income, which accounted for the majority, increased by 9.6% to nearly 20,000 yuan (19,629 yuan), becoming an important driving force for the growth of residents' income.
It is worth noting that the average monthly income of migrant workers reached 4,432 yuan, and the annual income exceeded 53,000 yuan, which led to the growth of rural residents' wage income.
At present, my country's economy is facing new downward pressure, which is transmitted to the social field and may increase the pressure on residents to increase their income.
In this regard, it is necessary to do a good job of policy response and prepare enough time ahead for stabilizing income.
In 2021, the growth rate of net transfer income per capita of urban and rural residents is only 5.8%, which is lower than the growth rate of total income over the same period.
For the fast-growing wage income, it is necessary to pay full attention to possible pressures.
It is urgent to take multiple measures to improve the income level of residents and stabilize income growth.
First, wage income and operating income should be further increased by stabilizing market players.
For existing market entities, we should focus not only on the number of market entities, but also on the activity of market entities.
For incremental market players, the focus is on reducing the cost of innovation and entrepreneurship and encouraging more innovative and entrepreneurial enterprises.
To stabilize market players, it is necessary to accelerate the optimization of the business environment and further promote tax and fee reductions.
In particular, it is necessary to strengthen policy stability to avoid adverse effects on the expectations of market players.
Second, the employment capacity should be further increased.
For example, vigorously support the development of labor-intensive manufacturing industries and service industries with high employment absorption capacity, and continuously expand employment capacity; further improve the policy arrangements related to mass entrepreneurship and innovation, and form an operating mechanism for entrepreneurship to drive employment; comprehensively sort out and remove restrictive Discriminatory employment policies.
At present, the scale of flexible employment in my country is relatively large, and it is necessary to speed up the improvement of policies and institutional arrangements for the protection of employment rights and interests.
Third, further efforts should be made to increase the level of transfer income.
This requires further improving the basic public service system and changing the pattern of low growth rate of transfer income.
After achieving comprehensive poverty alleviation, the focus of the policy is to consolidate and expand the achievements of poverty alleviation, and effectively increase the transfer income of low-income groups.
Fourth, there should be a major breakthrough in the reform of the property rights system, and the level of property income should be significantly improved.
For example, seize the opportunity of agricultural industrialization, speed up the revitalization of rural collective assets, and promote the transformation of rural collective resources into assets, funds into shares, and farmers into shareholders through reforms such as the joint-stock cooperative system, so as to continuously increase the property income of farmers.
In a word, taking multiple measures to keep residents' income growing continuously can not only create important conditions for releasing consumption potential, but also form an important driving force for economic and social development.
In this regard, relevant parties should pay full attention.
Kuang Xianming