Zhongxin Finance, April 29 (Reporter Li Jinlei) At a critical moment when stabilizing growth, stabilizing employment, and stabilizing prices facing new challenges, the Central Committee held a meeting.

  The Political Bureau of the CPC Central Committee held a meeting on April 29 to analyze and study the current economic situation and economic work.

The meeting made arrangements for the next step of economic work, releasing many important signals.

  "This is an extremely critical meeting held at a critical period. It clearly responded to the concerns of all parties in the market and society, and put forward ideas and countermeasures to solve the complex situation encountered in economic development. It is of great significance and will help stabilize market expectations." Dong Yu, executive vice president of the China Development Planning Institute of Tsinghua University, told the "China New Observation" column of Chinanews.com.

Data map.

Photo by China News Agency reporter Zhang Bin

The epidemic must be prevented, the economy must be stabilized, and development must be safe

  The meeting emphasized that the

epidemic must be prevented, the economy must be stabilized, and development must be safe, which is a clear requirement of the Party Central Committee.

  The epidemic must be prevented, the economy must be stabilized, and development must be safe. This is a new formulation.

In Dong Yu's view, this actually draws three bottom lines.

  Dong Yu believes that the current virus mutation and spread have new characteristics. The meeting put forward clear requirements for the relationship between the epidemic, the economy and development, emphasizing the efficient coordination of epidemic prevention and control and economic and social development. "Efficient" means more timely and targeted. , more effective, which is actually a clear starting point for grasping the basic starting point of epidemic prevention and control.

  Liang Wannian, head of the expert group of the National Health Commission's Leading Group for Epidemic Response and Disposal, pointed out that "dynamic clearing", economic development, and normal production and life are synergistic, not antagonistic.

The Chinese government has always made balancing this relationship an important goal during the entire anti-epidemic process.

Strive to achieve the expected goals of economic and social development throughout the year

  The meeting called

for intensifying the adjustment of macro policies, solidly stabilizing the economy, striving to achieve the expected goals of economic and social development throughout the year, and keeping the economy operating within a reasonable range.

  In 2022, China's economy is expected to grow by about 5.5%, but the economic growth rate in the first quarter was only 4.8%. Therefore, the market is very concerned about whether the full-year target will be achieved.

  "The meeting sent a signal, don't shake the confidence in the growth of the whole year because of the short-term impact in the first quarter, and work hard to achieve the established goal," Dong Yu said. Of course, when the goal was set, it was said to be achieved. The annual growth target will require hard work, and it will definitely be even harder now.

Therefore, the macro policy must first be strengthened, and the second must be enhanced in precision, pertinence and effectiveness.

  Yang Chang, head of the policy group and chief analyst of the Zhongtai Securities Research Institute, believes that adhering to the annual economic development goal is of great significance, which is conducive to giving full play to the expected management role of economic goals, and fully mobilizing the enthusiasm and enthusiasm of various departments and localities for economic development. Proactive, especially when the epidemic is under control, speed up the speed and pace of resumption of work and production, and make efforts to achieve economic and social goals.

Hong Kong-Zhuhai-Macao Bridge.

Photo by Zhu Zehui

Grasp the advance and redundancy of the policy under the target orientation

  The meeting called

for speeding up the implementation of established policies, implementing policies such as tax rebates, tax reductions and fee reductions, and making good use of various monetary policy tools.

It is necessary to quickly plan incremental policy tools, increase the intensity of camera control, and grasp the advance and redundancy of policy-oriented policies.

  How to understand lead and redundancy?

In Dong Yu's view, the most important thing is to grasp the timing and intensity of the policy introduction.

The implementation of the existing policies should be accelerated, and the incremental policies should be fully prepared, but it does not mean that they should be introduced in a hurry, but should be controlled according to the camera.

  Dong Yu pointed out that although there are many challenges now and the toolbox is sufficient, in order to achieve long-term goals and annual goals, policy efforts should be moderately advanced, but it does not mean that all medium and long-term tasks should be lifted at once. To do it right now, we must grasp the amount in advance, and we must not take out all the tools in order to deal with some difficulties. We must consider the effects of overlapping policies, which may cancel each other. Therefore, we must strengthen synergy, and key policies are at key points. It's better to work on it, not the more policies the better.

Macro policy from these points

  The meeting demanded that

all efforts should be made to expand domestic demand, play the key role of effective investment, strengthen land, energy, environmental assessment and other guarantees, and comprehensively strengthen infrastructure construction.

It is necessary to give full play to the leading role of consumption in the economic cycle.

  In addition, it is also required to stabilize market players and implement a package of relief and assistance policies for industries, small, medium and micro enterprises and individual industrial and commercial households severely affected by the epidemic.

Do a good job in securing supply and prices of energy resources, stabilizing and expanding employment, and ensuring smooth transportation and logistics.

  In particular, the comprehensive strengthening of infrastructure has been placed in a prominent position.

The 11th meeting of the Central Finance and Economics Committee held on April 26 also emphasized that infrastructure construction should be comprehensively strengthened.

  Dong Yu pointed out that these tasks are the main focus of macroeconomic policies in the short term. In response to the prominent difficulties and problems encountered at present, they are also aimed at the problems that market entities and the masses have reported relatively, reflecting the bottom line and guarding the bottom line.

Infrastructure has a long-term impact, but it also plays a key role in mobilizing the whole body at present, which can play a positive role in stabilizing the current national economic situation and stabilizing market expectations.

Data map.

Photo by China News Service reporter Li Jinlei

Support local governments to improve real estate policies based on local realities

  Regarding real estate, the meeting emphasized that it

is necessary to adhere to the positioning that houses are for living, not for speculation, support localities to improve real estate policies based on local conditions, support rigid and improved housing needs, optimize the supervision of pre-sale funds for commercial housing, and promote the real estate market. stable and healthy development.

  Dong Yu believes that "housing and not speculating" is still the premise. Next, on the basis of city-specific policies, localities will be given more autonomy and more flexibility in regulation.

  Yang Chang said that judging from the economic data in the first three months, the overall real estate market is weak, including the performance of the sales side, completion side, construction side, start-up side, and land acquisition side. Setting the tone of "starting to improve the real estate policy" is conducive to releasing the initiative and enthusiasm of various places and accelerating the realization of a virtuous circle of the real estate market.

  Zhang Dawei, chief analyst of Centaline Real Estate, analyzed that if there are reservations in the previous places, then after the heavy meeting, more cities will issue policies to stabilize the property market, and the intensity will be stronger.

Data map.

Photo by China News Agency reporter Wei Liang

Keep capital markets running smoothly

  The capital market has fluctuated recently.

The meeting called

for responding to market concerns in a timely manner, steadily advancing the reform of the stock issuance registration system, actively introducing long-term investors, and maintaining the stable operation of the capital market.

  According to the 2022 government work report, the stock issuance registration system will be fully implemented.

The meeting emphasized "steady progress".

  Dong Yu believes that all reforms in the capital market are aimed at improving the mechanism in the long run, not to make the capital market fluctuate too much in the short term.

  On April 29, the Shanghai Stock Exchange Index regained the 3,000-point mark, and the ChiNext Index regained the 2,300-point mark.

As of the close, the Shanghai Composite Index closed up 2.41% at 3047.06 points; the Shenzhen Component Index closed up 3.69% at 11021.44 points; the ChiNext Index closed up 4.11% at 2319.14 points.

More than 4,500 stocks in the two cities rose, and more than 200 stocks rose by the daily limit. The stocks in the real estate, new retail concept, cross-border e-commerce, e-commerce concept and other sectors set the limit.

Introduce specific measures to support the healthy development of the platform economy

  The meeting called

for promoting the healthy development of the platform economy, completing the special rectification of the platform economy, implementing normalized supervision, and introducing specific measures to support the standardized and healthy development of the platform economy.

  Dong Yu pointed out that under the circumstance that the phased tasks of special rectification have basically achieved the original goals, the next step will focus more on normalized and comprehensive supervision, in order to achieve healthy development of the platform on the basis of norms.

That is to say, under the premise of setting up capital "traffic lights", we will continue to support the development of the platform economy, as long as it is a regulated and healthy service, we will continue to support it.

  Wang Sheng, chief strategist of Shenwan Hongyuan, believes that the word "support" is particularly important, which clarifies the central government's attitude, indicating that the policies to guide the regulated and healthy development of the platform economy will be further clarified, and the rectification work of large platform companies is expected to be completed faster.

For the capital market, this important information is also expected to give domestic and foreign investors a "reassurance".