China New Observation | Many provinces have introduced major measures to stabilize the economy. What are the extraordinary measures?
Zhongxin Finance, June 11 (Reporter Li Jinlei) Beijing "stabilizes the economy 45", Shanghai "rejuvenates the economy 50", Jilin "stabilizes the economy 43", Fujian "stabilizes the economy 48", Zhejiang "stabilizes the economy" 38"...
After the release of the national version of the "33 Measures to Stabilize the Economy", the rallying call and the charge for stabilizing the economy have already sounded, and local governments have also taken action to launch a local version of a package of economic stabilization measures.
A series of extraordinary measures aimed at stabilizing investment and promoting consumption are aimed at stabilizing the overall economic market.
Data map.
Photo by China News Agency reporter Zhang Bin
Multiple provinces set targets for economic stabilization
The executive meeting of the State Council on June 8 emphasized that all localities should earnestly shoulder the responsibility of ensuring the well-being of one side’s people, promote the refinement and implementation of economic stabilization policies with a sense of urgency that cannot wait, and further release the policy effects to ensure reasonable economic growth in the second quarter and stable economic growth. Live in the economy.
From a local perspective, many provinces have clearly put forward goals and roadmaps for stabilizing the economy.
Affected by the epidemic, Jilin's GDP fell by 7.9% year-on-year in the first quarter, making it the only province with negative economic growth in the country in the first quarter.
Jilin launched 43 measures to stabilize the economy this time, and made it clear that this year's economic goal is to stop the decline in the second quarter, rebound in the third quarter, and achieve positive growth throughout the year.
Under the influence of the epidemic, Hainan's GDP increased by 6% year-on-year in the first quarter of this year, far below the annual target of 9%.
This time, Hainan issued the "Hainan Province Action Plan for Extraordinary Stabilization of the Economic Market", which set the goal of "bottoming out in April, rebounding in May, and returning to normal in June" as the goal for the second quarter, and further proposed that the economic growth rate will continue to be at the forefront of the country. annual goals.
Shanghai described the impact of the epidemic with "three unprecedented". The impact of this round of epidemic on Shanghai's economic operation is unprecedented, the difficulties encountered by market players are unprecedented, and the challenges faced by economic recovery and revitalization are also unprecedented.
This time, Shanghai has introduced the "50 Measures to Revitalize the Economy", which is an "addition" through policy efforts in exchange for the acceleration of economic development.
Shanghai hopes that, with the help of policies and the efforts of enterprises themselves, various market players can resume work and production in an orderly manner, restore vitality as soon as possible, and regain vigor and vitality.
The "rush to work" is coming with full speed and steady investment
Observe the economic stabilization measures introduced by various regions, including the implementation of the State Council's "33 measures to stabilize the economy", as well as the province's own incremental measures.
Investment is one of the key measures to stabilize growth.
In terms of stabilizing investment, many places have made full use of their horsepower, and formulated "construction plans" in terms of speeding up water conservancy and transportation.
Among them, Shanghai proposed to support the construction of key infrastructure projects such as major railway passages, rail transit networks, aviation hubs, ports, energy, inland waterways, water conservancy, and underground integrated pipe corridors to accelerate the construction, and promote a number of major industries such as integrated circuits and new energy vehicles. The project is accelerated.
Establish a green channel for the pre-approval of real estate projects, and launch a new batch of market-oriented new commercial housing projects in a timely manner.
Guangdong implements "wall chart operations".
The provincial key projects will make every effort to speed up the construction in accordance with the goal of "over 120% of the investment plan for projects under construction throughout the year, and all new projects planned to be started before the end of the year".
Hainan proposed to increase the province's annual investment growth target from 8% to 10%.
Zhong Zhengsheng, chief economist of Ping An Securities, believes that with the resumption of production, there is also a need to rush to work on orders that had been backlogged under the influence of the epidemic.
After entering June, construction companies will enter the mid-year phased assessment period, superimposed on the high temperature and rain from July to August, which is not conducive to construction, and real estate and infrastructure projects may have a "rush to work" in June.
Funds for investment are also being made available at an accelerated pace.
According to data from the Ministry of Finance, in the first five months of this year, a total of 2.03 trillion yuan of new special bonds have been issued in various regions.
The chief economist of CITIC Securities clearly pointed out that considering the accelerated issuance and use of special bonds, the increased support of financial institutions and the revitalization of stock assets, this year's infrastructure investment may form a high point from the end of the second quarter to the third quarter.
Data map: The scene of the auto show.
Photo by Chen Wen
Do everything possible to promote consumption to ignite "fireworks"
Consumption is the main driving force for economic growth. Therefore, all localities are doing everything possible to stimulate consumption in order to ignite "fireworks".
Boosting automobile and real estate consumption has become an important starting point.
In terms of promoting car consumption, in addition to reducing and exempting purchase tax, many places have also provided real money subsidies to stimulate people to buy cars.
In 2021, auto consumption will account for 34% of the total retail sales of social consumer goods in Jilin Province. Therefore, stabilizing auto consumption is the key to Jilin's stable growth.
Therefore, Jilin uses financial funds to directly subsidize car buyers. The purchase of traditional fuel passenger cars can enjoy a subsidy of 2,000 to 5,000 yuan, and an additional 1,000 yuan for the purchase of new energy vehicles.
Shanghai will increase the quota of 40,000 non-commercial passenger car licenses during the year, and provide a one-time subsidy of 10,000 yuan to individual consumers who replace pure electric vehicles.
Guangdong will give 3,000-10,000 yuan/vehicle subsidy to those who scrap or transfer out old cars with Guangdong license plates under their personal names, and purchase new models of trade-in promotion models in the province and license them in the province.
In terms of stimulating real estate consumption, many places have announced the relaxation of restrictions on purchases and sales, and the reduction of the down payment ratio. A considerable number of cities will also issue housing purchase subsidies. The maximum subsidy in Liangxi District of Wuxi is 10 million yuan to encourage talents to buy houses.
In addition, there are some new tricks. For example, Zhuhai City proposed the housing provident fund policy of "one person buying a house and helping the whole family".
In addition, issuing consumer coupons has become a common choice in many places.
Since the beginning of this year, the growth rate of the total retail sales of social consumer goods represented by duty-free shopping in Hainan has been lower than expected. For this reason, Hainan has stimulated consumption to make up for it. In the near future, an additional 100 million yuan of consumer coupon funds will be arranged, and it is openly welcome everyone to "grab the goods". Red envelope".
In Zhong Zhengsheng's view, from the perspective of high-frequency data, the vehicle freight flow index is gradually returning to the historical level of the same period, and most of the operating rate indicators in May have also recovered.
The "darkest moment" of China's economy is likely to have passed. Looking forward, the vigorous implementation of fiscal policy, the city-specific policy and marginal adjustment of real estate supervision policies, and the implementation of consumption promotion policies with automobiles as the main focus will all support China's economy has bottomed out and stabilized.
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