China News Service, August 5th (Chief Financial Reporter Li Jinlei) "Economic provinces must bravely take the lead, and qualified provinces must strive to achieve the expected goals of economic and social development." The recently held Politburo meeting put forward clear requirements.

  The train runs fast, thanks to the locomotive belt.

The big economic provinces acted in response to the order, set goals one after another, came up with practical measures, and went all out to stabilize the economy.

Many places expressed their positions "bravely take the lead"

  With great power comes great responsibility.

We are currently at a critical point in economic recovery.

As the main force for stabilizing the economy, large economic provinces naturally have high hopes.

  From the perspective of total GDP in 2021, the top ten provinces are Guangdong, Jiangsu, Shandong, Zhejiang, Henan, Sichuan, Hubei, Fujian, Hunan, and Shanghai.

  Among them, Fujian, Shanghai, Jiangsu, Zhejiang, and Guangdong, the five southeastern coastal provinces and cities, account for more than 1/3 of the country's economic volume, account for nearly 40% of fiscal revenue, and contribute nearly 80% of the local government's net transfer to the central government.

  The Economic Symposium on the Economic Situation of the Main Leaders of the Governments of the Southeast Coastal Provinces held on July 7 proposed that the five provinces and cities along the southeast coast should continue to provoke national development and economic stabilization, and play a major role in safeguarding the country's financial resources.

The major economic provinces naturally do their part, and have expressed their "brave leadership".

Guangdong, the largest economic province, recently stated that it will seize the critical period of the third quarter, do everything possible to keep the economy operating within a reasonable range, bravely take the lead, strive to achieve the best results, and make Guangdong’s efforts and Guangdong’s contribution to stabilizing the national economic market.

Jiangsu also recently emphasized that it should strengthen its responsibility and act proactively, and effectively provoke the backbone of national development and economic stability.

  Shandong has also stated recently that it will take the responsibility of a major economic province, efficiently coordinate epidemic prevention and control and economic and social development, and continue to consolidate the good trend of stable economic operation and improvement in quality.

Fujian has recently emphasized that it will dare to do good, take the lead, focus on promoting high-quality development, and strive to complete the annual goals and tasks.

Data map: Guangdong Humen Bridge.

Photo by China News Agency Fayue Road Construction

Anchor growth targets for the second half of the year

  China's economic growth target for 2022 is around 5.5%, but due to factors such as the epidemic, China's economy grew by 4.8% in the first quarter and 2.5% in the first half of the year.

Regarding the economic work in the second half of the year, the Politburo meeting of the Central Committee proposed to maintain the economic operation within a reasonable range and strive to achieve the best results.

  Several major economic provinces have also anchored their economic growth targets for the second half of the year.

  Zhejiang recently stated that in the first half of the year, the province's economic operation showed an "N" trend, with a GDP growth of 2.5%; in the second half of the year, Zhejiang should ensure a 6% GDP growth.

Sichuan proposes to "fight for the economy", and requires to do all the work in the second half of the year in the spirit of "fight"

, sprint to complete the annual goals and tasks, and strive to increase the province's GDP by about 1 percentage point higher than the national total.

Data in the first half of the year showed that Sichuan's GDP growth rate was 2.8%, 0.3 percentage points higher than the national rate.

  Guangdong requires that it will go all out to promote a good economic growth in the third quarter and strive to achieve the economic development goals for the whole year.

Hubei has made it clear that it must focus on making efforts to overcome difficulties, go all out to sprint in the third quarter, win the second half of the year, and strive to complete the annual goals and tasks.

  Zhang Lianqi, member of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference and vice-chairman of the China Taxation Society, told Chinanews.com's "China New Observation" column that it is a great challenge to achieve the expected economic and social development goals this year, and we must concentrate on our own affairs.

It is mainly reflected in the fact that the major economic provinces shoulder heavy responsibilities and take the lead, and the qualified provinces should strive to achieve the expected goals of economic and social development. This shows that the role of the "leading geese" is very important, and it has the role of "ballast stone" for the economic cycle.

The construction of major projects has become an important starting point

  Actively expanding effective investment is an important support for stabilizing the economy.

Accelerating the construction of major projects is a major deployment that benefits both the current and the long-term.

The major economic provinces have made moves one after another and launched a package of economic stabilization measures to try to stabilize economic growth.

Among them, the construction of major projects has become an important starting point for stabilizing the economy.

  The Zhejiang provincial government recently held the 11th plenary meeting, calling for a continuous upsurge in major project construction.

It is necessary to firmly establish the concept of "projects are kings" and "project development as heroes", and

spare no effort to promote the construction of a number of major projects that lay a foundation and benefit the long-term.

  Shandong has always regarded the construction of major projects as the main front for stabilizing economic operation and converting old and new kinetic energy.

In 2022, Shandong will innovatively implement the "Three Ten Big Tens" action plans, dynamically adjust provincial key projects, and adjust and optimize a total of 15,300 provincial, municipal and county key projects in the library.

  Guangdong requires that the construction of major projects should be the top priority of stabilizing investment, give full play to the role of the provincial special class for parallel approval of major projects, coordinate and solve outstanding problems that restrict project construction, formulate project start plans one by one, and make good use of special debt. Capital and national policy financial tools, further activate private investment, speed up the construction of projects under construction, and form a physical workload as soon as possible.

  Wen Bin, chief economist of Minsheng Bank, told Chinanews.com's "China New Observation" column that infrastructure construction will remain the key to steady growth in the second half of the year.

The boom in the construction industry in July was mainly related to the acceleration of infrastructure investment.

After the issuance of new special bonds in June, they must be used up by the end of August, so the speed of infrastructure investment has accelerated in various places.

Do everything possible to promote the recovery of consumption

Consumption is the main driving force for economic growth, and major economic provinces continue to exert their efforts in stimulating consumption, in order to promote the continuous heating of "fireworks".

  Sichuan has recently issued an opinion, calling for promoting the recovery of consumption as a top priority, comprehensively cleaning up policies and measures to curb consumption, introducing new stimulus policies for key industries, and accelerating consumption recovery and potential release.

Encourage qualified places to issue consumer coupons in areas with a large leverage, and focus on boosting large-scale consumption such as automobiles and home appliances.

  Hubei requires that bulk consumption such as automobiles and housing be stabilized, traditional consumption such as food, clothing, housing, travel, and travel should be promoted, and the space for online and offline consumption should be expanded.

  Jiangsu recently launched a campaign to promote consumption of green energy-saving home appliances, providing 200 million financial subsidies to provide 10% government subsidies for 10 types of green and energy-saving home appliances.

  Experts predict that with the further improvement of the epidemic prevention and control situation and the effective implementation of various consumption promotion policies, consumption is expected to continue to recover in the second half of the year.

(Finish)