China News Service, Beijing, March 6, Title: Five "top leaders" of economic departments explain China's development confidence
China News Service reporter Xia Bin
The economic-themed press conference of the Second Session of the 14th National People's Congress was held on the afternoon of the 6th.
The "top leaders" of China's five major economic departments, including the National Development and Reform Commission, the Ministry of Finance, the Ministry of Commerce, the People's Bank of China, and the China Securities Regulatory Commission, appeared on the same stage.
The importance of this press conference can be felt from the atmosphere when domestic and foreign media were waiting.
Two hours before the start of the press conference, domestic and foreign media already lined up in a queue of more than 30 meters outside the press conference.
One hour before the start of the press conference, in order to warm up reports in advance, some media were busy sending video materials back to the rear base camp.
Even a simple introduction to the venue has become an eye-catching "appetizer".
The camera shutter sounded, and the five heads of economic departments took the stage together to explain China's development confidence in the question and answer room.
On March 6, the second session of the 14th National People's Congress held a press conference in Beijing. Director of the National Development and Reform Commission Zheng Shajie, Minister of Finance Lan Fo'an, Minister of Commerce Wang Wentao, Governor of the People's Bank of China Pan Gongsheng, China Securities Wu Qing, chairman of the Supervision and Administration Commission, answered questions from Chinese and foreign reporters on issues related to development and reform, fiscal budget, business, financial securities and other issues.
The picture shows reporters raising their hands to ask questions.
Photo by China News Service reporter He Penglai
The confidence lies in the fact that the favorable conditions outweigh the unfavorable factors.
Zheng Shajie, director of the National Development and Reform Commission, said that China's economic recovery will be further consolidated and strengthened in 2024.
Whether looking at the short or long cycle of economic development, there is strong support.
The foundation for development is more solid, macro policies continue to be strengthened, development in various regions is more positive and promising, and positive factors continue to accumulate... Zheng Shanjie details the favorable factors for China's development.
He also emphasized that even if there are still difficulties and challenges in achieving the expected goals, they are all problems in progress and can be solved in development.
The confidence lies in firmly holding the bottom line of risk.
Regarding the local debt issue that is of concern to the outside world, Finance Minister Lan Fo'an responded that the payment of principal and interest of local government statutory debts is effectively guaranteed, and the scale of implicit debts has gradually declined; the government has made positive progress in repaying corporate accounts arrears, and the number of local financing platforms has increased. reduce.
At present, China's local government debt risks are generally controllable.
Lan Foan said that the Ministry of Finance will work with relevant parties to continuously improve local government debt management, accelerate the establishment of a government debt management mechanism that is compatible with high-quality development, and gradually resolve local government debt risks in high-quality development.
The confidence lies in the continued release of domestic demand.
Minister of Commerce Wang Wentao cited a set of data to confirm the steady recovery of China's consumer market: last year, consumption contributed 82.5% to China's economic growth, and the total retail sales of consumer goods reached 47.1 trillion yuan, a year-on-year increase of 7.2%.
The Ministry of Commerce has designated 2024 as the "Year of Consumption Promotion".
Wang Wentao revealed that this year's promotion of consumption will focus on two major focuses: first, promoting the replacement of old consumer goods such as automobiles, home appliances, home decoration, kitchen and bathroom, and second, boosting service consumption.
On March 6, the second session of the 14th National People's Congress held a press conference in Beijing. Director of the National Development and Reform Commission Zheng Shajie, Minister of Finance Lan Fo'an, Minister of Commerce Wang Wentao, Governor of the People's Bank of China Pan Gongsheng, China Securities Wu Qing, chairman of the Supervision and Administration Commission, answered questions from Chinese and foreign reporters on issues related to development and reform, fiscal budget, business, financial securities and other issues.
The picture shows Chinese and foreign reporters interviewing at the scene.
Photo by China News Service reporter He Penglai
The confidence also lies in the increasing factors that stabilize the financial market.
Pan Gongsheng, Governor of the People's Bank of China, gave a signal: The current average deposit reserve ratio of China's banking industry is 7%, and there is still room for subsequent RRR cuts.
He judged that this year the monetary policies of major economies are expected to shift, China's economic fundamentals continue to rebound and improve, and foreign exchange market participants become more mature. The combined effect of these factors will objectively help enhance the operating space of China's monetary policy and is conducive to Balance cross-border capital flows and maintain the basic stability of the RMB exchange rate.
This year’s government work report proposes to enhance the inherent stability of the capital market.
Wu Qing, chairman of the China Securities Regulatory Commission, faced reporters for the first time after taking office and made a strong statement, "Once the market seriously deviates from fundamentals and encounters extreme situations such as irrational violent fluctuations, liquidity depletion, market panic, and serious lack of confidence, we will take decisive action when it is time to do so. Correcting market failures.”
He also said that in order to improve the quality of listed companies and allow investors to obtain better returns, they will "do all they can to keep counterfeiters out of the capital market."
Lasting for nearly two and a half hours, this blockbuster press conference answered in detail 17 hot issues about China's economy.
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