China's multi-regional economic "full firepower"

Original title: (Economic Observation) China's multi-regional economic "full firepower"

　　China News Agency, Beijing, January 4th (Reporter Li Xiaoyu) At the beginning of 2023, many places in China have introduced policies to stabilize the economy, expand investment, boost consumption, and promote overall economic improvement.

　　On January 3, Henan announced the "Notice on Printing and Distributing Policies and Measures to Vigorously Boost Market Confidence and Promote Economic Stability and Improvement", requiring "a mental state of not waiting for others and a pragmatic and hard-working work style" to promote the overall improvement of economic operation.

　　These policies and measures include launching about 100 major projects at the level of 10 billion yuan (RMB, the same below) in the four major areas of industrial transformation and infrastructure; focusing on high-quality development of the manufacturing industry, modern service industry, modern comprehensive transportation system, In 10 major areas such as new infrastructure, sort out about 10,000 major projects, establish a task ledger, and implement promotion responsibilities, and strive to complete an investment of more than 2 trillion yuan in 2023.

　　On the same day, Anhui held the promotion meeting for the province's investment and key projects in the first quarter.

Wang Qingxian, governor of Anhui Province, said that the sense of urgency of "fighting" and "grabbing" should be enhanced to ensure the realization of the annual investment growth target.

　　Sichuan also held on-site promotion activities for major projects in the first quarter on the same day.

Huang Qiang, governor of Sichuan Province, said that it is necessary to further focus on real project investment, highlight "fast" progress, and promote more physical workloads for projects that have already started.

　　In order to promote investment, some provinces have also introduced "dry goods" incentives.

For example, Shandong recently launched the "Policy List of "Steady and Improvement, Progress and Quality Improvement" in 2023 (the first batch)", which clearly defines the growth rate of industrial added value above designated size and investment growth rate of industrial technological transformation above designated size for different groups in 2023 The city that ranks first will give a one-time reward of up to 5 million yuan.

　　In addition to speeding up the start of projects, many places have also provided "real money" to promote consumption recovery.

Previously, affected by the epidemic and other factors, China's consumption growth will be slow in 2022, and the recovery process will be significantly slower than investment and foreign trade.

　　Henan proposes to continue the car purchase subsidy policy until the end of March 2023, and provide consumers with a subsidy of 5% of the purchase price for newly purchased cars in the province, with a maximum of 10,000 yuan per car; optimize the identification standards for second homes, and encourage group buying of commercial houses. Encourage all localities to support the housing purchase and settlement of talents and the reasonable housing consumption needs of urban and rural residents by issuing house purchase vouchers, house purchase subsidies, and deed tax subsidies.

　　Shandong this year plans to focus on key areas such as automobiles, home appliances, and catering, and hold more than 200 large-scale promotional activities; encourage cities to reward consumption-oriented innovation models, creative activities, and companies that have made outstanding contributions to the growth of the consumer market. A certain subsidy will be given to consumer exhibitions with a square meter or more.

　　The Economic Work Conference of the Guangdong Provincial Party Committee also made it clear that it is necessary to fully release the potential of domestic demand, give priority to the recovery and expansion of consumption, and comprehensively implement policies to expand consumption.

　　With the intensive introduction of a number of policies, many research institutions predict that China's economy will improve significantly in 2023.

　　Goldman Sachs Research predicts that in 2023, China may usher in a strong rebound in consumption, stronger core inflation and a gradual return to normal cyclical policies.

It is expected that China's GDP growth rate will accelerate to 4.5% in 2023.

　　CICC also believes that China's economy is expected to pick up in 2023, among which, the development of the new economy may be even more eye-catching.

If the impact of the epidemic is significantly reduced, the endogenous momentum of the economy will accelerate recovery, and the economy is expected to achieve a higher level of growth.

　　Analysts said that against the background of the gloomy world economic outlook this year, the accelerated recovery of China's economy will help the global economy avoid a recession.

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