China New Observation | "33 Strategies to Stabilize the Economy", sound the charge!

  Zhongxin Finance, May 24 (Reporter Li Jinlei) No one cares about the economy?

Only focus on epidemic prevention and ignore the economy?

As it turns out, these are serious misreadings.

  The State Council launched the "33 Measures to Stabilize the Economy", which quickly refreshed the circle of friends on the 23rd.

  Regarding the current economic situation, the executive meeting of the State Council held a few days ago summed it up in one sentence:

the current downward pressure on the economy continues to increase, and many market players are very difficult.

  Therefore, the meeting further deployed a package of measures to stabilize the economy, made efforts to push the economy back to normal track, and ensured that it operates within a reasonable range, and decided to implement 33 measures in 6 areas.

  Looking at the press release of the conference, key words such as "increase", "expand", "new construction", "hurry up" and so on, 9 figures with "100 million yuan" as the unit are exciting——

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More than 140 billion yuan in tax rebates have been added, and the total annual tax rebate has reached 2.64 trillion yuan.

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  "The

three social security premium policies will be extended to the end of the year and will be extended to other industries in extreme poverty. It is estimated that 320 billion yuan will be deferred this year.

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"The

re-guarantee cooperation business of the National Financing Guarantee Fund has increased by more than 1 trillion yuan."

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The 90 billion yuan commercial truck loan issued by the central automobile enterprise requires the bank-enterprise linkage to postpone the repayment of the principal and interest for half a year."

"Increase 150 billion yuan in civil aviation emergency loans and support the aviation industry to issue 200 billion yuan of bonds."

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Relax car purchase restrictions, and reduce the purchase tax of some passenger cars by 60 billion yuan in stages.

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Support the issuance of 300 billion yuan of railway construction bonds.

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This is actually sounding the charge of stabilizing the economy.

" Li Jin, a researcher at the State-owned Economic Center of Jilin University, believes that the government has fully realized the seriousness of the economy and is working hard to take measures to make the economy from regional and episodic come out of the hiatus.

The next actions of various localities and departments may exceed our expectations.

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This fully reflects the country's determination to support stable growth

, and it is very necessary to promote the economy to stabilize and recover as soon as possible during the critical period of the current economic climb." Wen Bin, chief researcher of China Minsheng Bank, commented.

  What are more specific heavy measures?

Look at them one by one.

Count the RMB.

(Data map) Photo by Ai Qinglong

Increase tax rebate by more than 140 billion yuan

  In terms of finance and related policies, the existing and incremental tax rebates have been implemented in more industries, with

an increase of more than 140 billion yuan in tax rebates, and the total annual tax rebate is 2.64 trillion yuan.

Three social security premium policies, including deferred pension payments for micro, small and medium-sized enterprises, individual industrial and commercial households, and five destitute industries, will be extended to the end of the year, and will be extended to other destitute industries. It is estimated that 320 billion yuan will be deferred this year.

  Expand unemployment insurance training subsidies for job retention to all insured enterprises in difficulties.

For small, medium and micro enterprises that recruit college graduates, support will be increased such as job expansion subsidies.

All localities should increase support for small and micro enterprises and individual industrial and commercial households in water, electricity, and rent.

This year, the special bonds will basically be in place by the end of August, and the scope of support will be extended to new infrastructure.

The re-guarantee cooperation business of the National Financing Guarantee Fund increased by more than 1 trillion yuan.

  Zhongxin Finance noticed that it was originally expected that the annual tax rebate, tax reduction and fee reduction would be about 2.5 trillion yuan this year, but this time it was directly increased by more than 140 billion yuan.

Originally, the three social security premium policies, including deferred payment of pensions, were only aimed at five industries: catering, retail, tourism, civil aviation, and road, water, and rail transportation.

  In Wen Bin's view, tax rebates and deferment of fees have been significantly increased, which will help reduce the burden on market players and reflect the further efforts of fiscal policy to bail out difficult areas.

Deferred principal and interest payments on these loans during the year

  In terms of financial policies, the amount and ratio of support tools for inclusive small and micro loans this year will be doubled.

For loans to small and medium-sized enterprises and individual industrial and commercial households, truck loans, and consumer loans for personal housing loans in temporary distress, banks will be supported to postpone repayment of principal and interest within the year;

the 90 billion yuan commercial truck loans issued by central automobile enterprises should be linked to banks and enterprises to postpone principal repayment for half a year. Pay interest.

The commercial bill acceptance period was shortened from 1 year to 6 months.

Promote the legal and compliant domestic and overseas listing of platform companies.

  Wen Bin told the "China New Observation" column of Chinanews.com that this is mainly due to the recent rebound of the epidemic, which has caused the above-mentioned groups to face greater pressure on employment and income. Delayed repayment will help ease the financial pressure of these groups, reflecting the continued financial development. The real economy has given way to profits, and the relief efforts for the needy groups have been increased.

Lift restrictions on movement from low-risk areas

  In terms of stabilizing the industrial chain and supply chain, optimize the policy of resumption of work and production, and improve the services for "white list" enterprises.

Ensure the smooth flow of freight,

cancel the restrictions on passage from areas with low risk of the epidemic, and cancel the regulations and charges for unreasonable limits.

Passengers and freight drivers waiting for nucleic acid testing in different places enjoy the same free policy.

Increase the civil aviation emergency loan by 150 billion yuan, and support the aviation industry to issue 200 billion yuan of bonds.

Orderly increase domestic and international passenger flights, and formulate measures to facilitate personnel exchanges between foreign companies.

  Wen Bin believes that the negative impact of the rebound of the epidemic on the economy has already appeared. In April, the negative growth of production and consumption in my country must be controlled as soon as possible, the resumption of work and production must be accelerated, and production, transportation, sales and other links should be smoothed, so that the industrial chain supply chain operate in an orderly manner.

In particular, the meeting proposed to cancel the restrictions on access from low-risk areas of the epidemic, and to cancel the unreasonable restrictions and charges, which reflects the country's re-clearance that "one size fits all" and other unreasonable restrictions are not allowed. It is expected to play a positive role in smooth logistics and transportation. .

Phased reduction of 60 billion yuan in purchase tax for some passenger cars

  In terms of promoting consumption and effective investment, the

restrictions on car purchases were relaxed, and the

purchase tax for some passenger cars was reduced by 60 billion yuan in stages.

City-by-city policies support rigid and improved housing needs.

Optimize approval, start a new batch of water conservancy projects, especially large-scale water diversion irrigation, transportation, renovation of old communities, underground integrated pipe gallery and other projects, and guide banks to provide large-scale long-term loans.

Start a new round of rural road construction and renovation.

Support the issuance of 300 billion yuan of railway construction bonds.

Intensify efforts to provide cash-for-work.

  Wen Bin said that at present, my country's domestic demand is relatively weak, consumption is obviously insufficient, and investment growth has declined. We must seize the growth points to boost consumption and investment as soon as possible.

Automobile and real estate consumption are the "double pillars" that drive the growth of domestic demand in my country. The meeting proposed to reduce the purchase tax of some passenger vehicles by 60 billion yuan in stages, which will help boost automobile consumption. The quotation dropped by 15 basis points. Recently, various cities have introduced measures to stabilize the real estate, which will help support rigid and improved housing demand and promote the healthy and stable operation of the real estate market.

Data map: A scene of Ningbo port.

Photo by Shen Yingjun

Another batch of energy projects such as hydropower, coal and electricity will be started

  In terms of ensuring energy security, we will implement local coal production responsibilities, adjust the policy for coal mines to increase production capacity, and speed up the procedures for ensuring coal supply.

Another batch of energy projects such as hydropower, coal and electricity will be started.

  Wen Bin analyzed that since last year, international commodity prices have risen rapidly. This year's Ukraine crisis has further pushed up the prices of energy and other commodities, which has also created imported inflationary pressures on my country.

The policy of ensuring supply and stabilizing prices implemented by my country has played a positive role. The measures deployed at the meeting are a further manifestation of the policy of ensuring supply and stabilizing prices. This will help ensure sufficient energy supply in my country, while reasonably controlling related costs and supporting economic stabilization and recovery.

Do a good job in unemployment insurance, subsistence allowances and assistance to the needy

  In terms of ensuring basic people's livelihood, we will do a good job in unemployment insurance, subsistence allowances, and assistance to those in need.

The linkage mechanism for linking social assistance and security standards to price increases shall be activated in a timely manner as appropriate.

  Wen Bin believes that this year is not only faced with the employment problem of a large number of graduates, but also during the epidemic period, enterprises have stopped production, the service industry has suspended offline operations, and the unemployment rate has risen significantly. This will not only reduce the source of residents' income, but also dampen confidence and expectations. Demand is sluggish.

The meeting proposed the timely activation of the linkage mechanism between social assistance and security standards and price increases as appropriate, which will help protect the basic livelihood of the groups in difficulty, and is very important for reversing expectations, boosting confidence, and stabilizing the overall economic market.

  "This meeting is very timely and necessary, and the measures are well-targeted and comprehensive. It reflects the country's firm confidence in supporting stable growth and the courage to deal with difficulties decisively. It helps to form a synergy of macro policies and ensure that the economy operates within a reasonable range." Bin said.

  Li Jin believes that China's economy is resilient and has a lot of room for maneuver. If the package of policy measures continues this time, if the economy can return to a normal track and ensure that it operates within a reasonable range, the policy "shock bomb" does not need to be taken out.

(Finish)

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