China New Observation｜To stabilize the economy, why are these 6 major economic provinces leading the way?

　　China News Service, August 19 (Chief Financial Reporter Li Jinlei) At the most difficult point in the current economic stabilization, the major economic provinces have been entrusted with important tasks.

The economic province has been asked many times to take the lead

　　On August 16, the symposium of the main responsible persons of the government of the major economic provinces required that

　　Recently, major economic provinces have been asked to play the leading role many times.

　　The meeting of the Political Bureau of the Central Committee held on July 28 proposed that the major economic provinces should bravely take the lead, and the qualified provinces should strive to achieve the expected goals of economic and social development.

　　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.

　　China's economic growth target for 2022 is about 5.5%, but under the shock of exceeding expectations, the economy grew by 2.5% in the first half of the year. Among them, in June, the negative growth of major economic indicators in the first two months was reversed. Although the economy continued to recover in July. , but there are still small fluctuations.

　　In the process of stabilizing the economy, the major economic province as the "protagonist" naturally has greater ability and greater responsibility.

Why these 6 economic provinces?

　　The six provinces participating in the August 16 meeting are Guangdong, Jiangsu, Shandong, Zhejiang, Henan, and Sichuan.

Why are they?

Data map: Guangdong Humen Bridge.

Photo by China News Agency Fayue Road Construction

　　Zhao Xijun, co-director of the China Institute of Capital Markets at Renmin University of China, told Chinanews.com's "China New Observation" column that whether it is economic scale and proportion, employment absorption, or financial contribution, the six major economic provinces have played an important role in China's economic development. effect is very large.

Especially in the face of internal and external pressures, in order to stabilize the economy and make the economy perform better in the second half of the year, the economic provinces have more resources and stronger capabilities to do this.

　　Numerous figures revealed at the symposium can illustrate the importance of the six major economic provinces - the

　　Chinanews.com's "China New Observation" column noted that in terms of total GDP in 2021, the top six provinces are Guangdong, Jiangsu, Shandong, Zhejiang, Henan, and Sichuan.

Among them, Guangdong's GDP exceeds 12 trillion yuan, Jiangsu's GDP exceeds 11 trillion yuan, Shandong's GDP exceeds 8 trillion yuan, Zhejiang's GDP exceeds 7 trillion yuan, and Henan and Sichuan's GDP exceeds 5 trillion yuan.

　　From the perspective of fiscal revenue in the first half of 2022, Guangdong ranks first with 673 billion yuan, Zhejiang ranks second with 498.4 billion yuan, Jiangsu ranks third with 463.9 billion yuan, Shandong ranks fourth with 395 billion yuan, Sichuan (247.9 billion yuan) and Henan (236.2 billion yuan) ranked seventh and eighth respectively.

　　Bai Jingming, a researcher at the Chinese Academy of Fiscal Sciences, told Chinanews.com's "China New Observation" column that these six major economic provinces are generally two major sectors, one is the four coastal provinces, and Guangdong, Jiangsu, Shandong, and Zhejiang are relatively developed economies. , the proportion of high-tech industries is relatively high, and the basic conditions for economic development are good, there is more room for manoeuvre, and the family is solid. Coupled with the support of the national unified large market, it is expected that the four coastal provinces will not have any problem in completing the task of financial turnover, thus ensuring that the whole country Stable financial resources and central government expenditures at the same level will achieve regional financial balance, ensure basic people's livelihood, wages, and operations, and achieve a national game of chess.

　　Bai Jingming said that the other sector is Henan and Sichuan. Among them, Henan is a major grain-producing province and plays an important role in agricultural stability.

These two provinces have the advantage of being a latecomer and have developed rapidly in the past two years.

The six provinces have large economies and a total population of nearly 600 million, accounting for more than 40% of the national population. The proportion of the labor force is also relatively high. Therefore, the development of these provinces plays an important role in ensuring employment and people's livelihood across the country.

How do the 6 major economic provinces choose the backbone?

　　In fact, a number of major economic provinces have recently expressed their willingness to act proactively, take the lead, and put forward new requirements.

For example, Guangdong stated 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.

　　Zhejiang proposed to ensure a 6% GDP growth in the second half of the year.

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.

　　How exactly does it work?

Chinanews.com's "China New Observation" column noted that in the

　　Zhao Xijun believes that it is very important for these major economic provinces to implement a series of policies and measures issued by the central government as soon as possible.

At the same time, it is necessary to speed up the promotion of related investment projects, and to form more physical workload in the third quarter, that is, to increase investment in investment and promote it faster, which will become an important support for stabilizing the economy in the second half of the year.

In addition, it is necessary to give more support to market entities, increase the efforts to help enterprises, stabilize employment and income, so as to further expand consumption and make consumption better in the second half of the year. To promote consumption, we must seize the two important factors of real estate and automobiles. consumer sector.

Actively expanding effective investment and vigorously promoting consumption have become the driving force for economic stability in the province.

　　In terms of investment expansion, Guangdong requires that the construction of major projects should be the top priority of stabilizing investment.

Zhejiang's recent requirements have continued to set off a boom 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.

　　In terms of promoting consumption, Jiangsu recently launched "23 measures to promote consumption".

Sichuan recently issued an opinion, requesting to promote the recovery of consumption as a top priority.

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.

　　Bai Jingming pointed out that to give full play to the enthusiasm of the central and local governments, the policy toolbox should be used well, the policies that should be introduced should be introduced in a timely manner, and the policies that have already been introduced should be implemented well.

Moreover, the existing policy space should be used enough. For example, the current local special debt balance has not yet reached the debt limit, and the debt limit space must be revitalized in accordance with the law.

In other words, do not engage in "flooding irrigation", and at the same time make good use of the policies that have been issued, enhance the timeliness of policy implementation, and make good use of structural policies.

(Finish)