Correctly
understand and grasp the characteristics and behavioral laws of capital
The Central Economic Work Conference emphasized that it is necessary to correctly understand and grasp the characteristics and behavioral laws of capital.
This year's government work report proposes to promote the common development of the economy of various ownerships.
Adhere to and improve the basic socialist economic system, adhere to the "two unswerving".
Support and guide the healthy development of capital norms.
In this regard, the deputies participating in the National People's Congress and the National People's Congress have expressed that the positive role of capital as a factor of production should be better played, and its negative role should be effectively controlled at the same time, the improvement of regulations should be accelerated, the simultaneous promotion of dredging and governance should be promoted, and the disorderly expansion of capital should be prevented.
Promote optimal allocation of capital factors
Capital is one of the most basic and active elements in a market economy.
There are bound to be various forms of capital in the socialist market economy, and the positive role of capital as a factor of production must be brought into play.
The combination of capital and other production factors can continuously improve the level of social productivity, provide the society with various production and daily necessities and services, and promote social development and people's well-being.
Several deputies believe that the capital market should further play its role in resource allocation, promote the optimal allocation of capital factors, support the national development strategy, and guide more capital to invest in green transformation, specialization, specialization, and other fields.
"The capital market plays an important role in promoting scientific and technological innovation, industrial transformation and high-quality economic development by playing a risk-sharing and benefit-sharing mechanism. In 2021, the market value of emerging industries represented by information technology, biomedicine, communications, and electrical equipment in my country will be It accounts for about 23%, an increase of 7 percentage points compared with 2018, and has cultivated a large number of new technology companies." Yang Changchang, member of the National Committee of the Chinese People's Political Consultative Conference and chief economist of Shenwan Hongyuan Securities, said that the capital market should further enhance its pivotal role in resource allocation , increase support for the drive of scientific and technological innovation, serve the national strategy, and serve the construction of a modern economic system.
"The capital market is very helpful to our company's development and growth." Hong Jie, deputy to the National People's Congress and chairman and president of 3trees Coatings Co., Ltd., said that 3trees' revenue in 2020 increased by about 3.21 times, the compound growth rate of revenue is 43.24%; the net profit attributable to the parent company in 2020 has increased by 2.75 times compared with the beginning of listing, and the compound growth rate is 39.12%.
The establishment of the Beijing Stock Exchange last year was a major breakthrough in China's capital market reform.
Xi Guohua, member of the National Committee of the Chinese People's Political Consultative Conference, deputy secretary of the Party Committee, vice chairman and general manager of CITIC Group, believes that the Beijing Stock Exchange should be built into the main front for serving innovative small and medium-sized enterprises, and suggested: First, optimize the subscription model and promote full prepayment The second is to innovate the trading mechanism and take multiple measures to increase the trading activity of the Beijing Stock Exchange; the third is to introduce incremental funds to create conditions to attract all kinds of institutional investors; the fourth is to identify public companies and solve the problems of the Beijing Stock Exchange and new companies. Three board legal application issues.
Actively set "traffic lights" for capital
The representative members said that while the positive role of capital should be brought into play, the negative role of capital must also be effectively controlled.
In recent years, under the background of my country's rapid economic development, some platform economies have taken advantage of weak capital supervision and avoided supervision, resulting in disorderly expansion.
"Some social capital takes advantage of the state's vigorous promotion of reform and innovation, encourages the development of new formats, new models, and new industries, hypes cutting-edge concepts and operating models, and grows savagely through the advantageous resources at their disposal. This kind of 'one-sided prosperity' cannot stand. The test will harm the healthy and sustainable development of the industry." said Jiang Haoran, member of the National Committee of the Chinese People's Political Consultative Conference and chairman of Hengyin Financial Technology Co., Ltd.
"There is a certain contradiction between the profit-seeking nature of capital and the long-term cycle of drug research and development. Once innovative research and development is curbed, it is not conducive to the healthy development of drug research and development." said Li Yan, deputy to the National People's Congress and president of Qilu Pharmaceutical Group.
Feng Yidong, member of the National Committee of the Chinese People's Political Consultative Conference and chairman of Zhongtai Financial International Co., Ltd., said that the layout of capital in the industry should be adjusted by market-oriented mechanisms and legal means.
Government departments can guide capital investment through the negative list, avoid the negative effects caused by excessive capital expansion, and continue to strengthen anti-monopoly and anti-unfair competition.
"In the past year, government departments have made a series of major decisions and deployments around anti-monopoly and preventing the disorderly expansion of capital, and achieved remarkable results. In the future, we can further strengthen the supervision of the platform economy at the legislative, judicial, and law enforcement levels." Member of the National Committee of the Chinese People's Political Consultative Conference, Ma Jun, deputy dean of Henan Luoyang Institute of Technology, suggested that, first, promote the healthy development of the platform economy from the legislative level.
Incorporate data control capabilities into market status determination, improve the application of the principle of necessary facilities in the anti-monopoly law, and strengthen the formulation of laws and regulations such as privacy protection, anti-unfair competition, and consumer rights protection.
Second, we must normalize and refine supervision.
The "sports-style supervision" should be shifted to clarifying the bottom line in advance and adjusting in a timely manner during the event, so as to effectively prevent the occurrence of competition damage, and build a comprehensive and sustainable supervision system structure that fully guarantees the vitality of market competition.
The third is to innovate the way of supervision.
By moving the gate forward and preventing in advance, the maximum limit is to reduce the generation of negative externalities, guide market entities to operate in compliance, and create a business environment and ecosystem with the rule of law and orderly competition.
Multiple ownership economies go in the same direction
The Central Economic Work Conference emphasized that it is necessary to support and guide the healthy development of capital norms, adhere to and improve the basic socialist economic system, unswervingly consolidate and develop the public economy, and unswervingly encourage, support, and guide the development of the non-public economy.
This year's government work report made relevant arrangements.
Zhu Tao, a member of the National Committee of the Chinese People's Political Consultative Conference and chief scientific officer of CanSino Biological Co., Ltd., believes that this has given private entrepreneurs a "reassuring pill".
"It is very exciting and more confident, so that we can focus on innovation and entrepreneurship, and operate and develop with peace of mind." Committee member Zhu Tao said that as an innovative entrepreneur of a private vaccine company, he attaches great importance to the country's equal protection of enterprise property rights and independent management rights in accordance with the law. and the legitimate rights and interests of entrepreneurs, creating a good environment for the development of various ownership enterprises.
Representative Hong Jie said that my country's economic development was not easy last year, but he still gave targeted and tangible policy support to private enterprises, especially to support scientific and technological innovation.
"In terms of super deduction of R&D expenses, 3TREES has accumulated a total of 62.62 million yuan of deductions for super deduction of R&D expenses in the past two years. Various 'real money' preferential policies give us a great sense of gain." Representative Hong Jie said, Many policies in the government work report support the non-public economy, especially small and medium-sized enterprises, which are more positive than expected.
"How to support and guide the regulated and healthy development of capital is the key to giving full play to the role of capital, supporting the real economy, and stabilizing market players." Liao Hongyu, deputy to the National People's Congress, secretary of the HNA Innovation Party Committee and chairman of the board, believes that it is necessary to find out the characteristics and behavior of capital. , to clarify the red line, bottom line and high-voltage line of capital behavior.
"Due to the characteristics of public ownership, the state-owned economy can reduce the blindness of the market and has unique advantages in technological innovation and green development. As my country's economy enters a stage of high-quality development, these advantages of the state-owned economy will become more obvious." Ma Committee member Jun suggested to give full play to the leading and regulating role of the public ownership economy, adhere to the direction of making state-owned enterprises better, stronger and bigger, and developing and expanding the new rural collective economy. an important way to expand.
At the same time, it can guide private capital to enter fields that are in line with the direction of socialism with Chinese characteristics and meet the needs of high-quality economic development.
Representative Liao Hongyu said that the public ownership economy shoulders a major mission and can form a positive and upward force with various types of capital.
Supervision should be further strengthened and innovated to better maintain market fairness, justice and efficiency.
In addition, we must be wary of the disorderly expansion of capital and crowding out people's livelihood, and we must also allow capital to support the non-public economy in an orderly manner and go in the same direction as the public economy.
Ma Chunyang He Langsha Zhou Lin Tan Haojun Li Zijiao