(Observation at the two sessions) Li Keqiang explained China's "scale policy" and delivered four signals
China News Agency, Beijing, May 28 (Reporter Li Xiaoyu, Wang Enbo) The third session of the 13th National People's Congress closed on the 28th. After the meeting, Chinese Premier Li Keqiang met with Chinese and foreign reporters to explain in detail the “scale policy” of the Chinese economy in response to the impact of the epidemic.
What is the scale?
In order to hedge the downward pressure on the economy, the Chinese government ’s work report this year hit a series of “combined punches”, including a fiscal deficit of 1 trillion yuan (RMB, the same below) and the issue of 1 trillion yuan of special anti-epidemic bonds; The newly reduced burden of enterprises exceeded 2.5 trillion yuan; the local government's special bonds were 3.75 trillion yuan, an increase of 1.6 trillion yuan over last year; the central budget's investment arrangement was 600 billion yuan.
Li Keqiang said that the funds raised by this large-scale policy are divided into two parts: one part is the increase of deficits and the issuance of special anti-epidemic government bonds, totaling 2 trillion yuan; the other part is the reduction and exemption of social insurance premiums, the use of unemployment insurance balances, and promotion State-owned commercial banks make profits, and natural monopolistic enterprises lower their prices to reduce their operating costs. This part of the fund is about twice the size of the newly added deficit and special anti-epidemic government bonds.
On May 28, Premier Li Keqiang attended the press conference and answered questions from Chinese and foreign reporters in the Great Hall of the People in Beijing. Xinhua News Agency reporter Chen Yehua
Is it enough?
In the context of the unprecedented impact of the epidemic on China's economic and social development, is the scale policy launched this time sufficient?
In this regard, Li Keqiang said that according to previous experience and the current situation, this policy "should be strong."
He emphasized that China did not engage in flood irrigation in the past, and it still does. However, special policies are required during special periods, that is, "draining and raising fish".
"Without enough water, the fish cannot live. But if it overflows, it will form bubbles, and some people will arbitrage from it, and the fish will not be raised, and some people will touch the fish in muddy water." Li Keqiang said, while stabilizing the economy, we must " Avoid lifting your feet and raising the dust to confuse future generations. "
He said that if there are major changes in the economy or other areas, "we still have policy space." Whether it is fiscal, financial, or social security, there are policy reserves, and new policies can be introduced in a timely manner without hesitation.
On May 28, Premier Li Keqiang attended the press conference and answered questions from Chinese and foreign reporters in the Great Hall of the People in Beijing. Xinhua News Agency reporter Ding Haitao
What's new?
In the face of unprecedented shocks, it is impossible for China's economy to follow a familiar path. As Li Keqiang said, "Whether it is to raise money or where it comes from and where it is used, we must take a new path."
Judging from the information disclosed in the government work report, unlike the traditional thinking of relying on infrastructure investment to promote economic growth in the past, this policy "combination punch" aims to stabilize employment and protect people's livelihood, to rescue enterprises and stimulate market vitality. purpose.
Talking about the reason, Li Keqiang explained that China's economic structure has changed a lot. Consumption plays a major role in economic growth, and SMEs account for more than 90% of employment. He also revealed that the scale policy adopted this time used about 70% of the funds to directly support residents' income, because doing so can promote consumption and drive the market.
Li Keqiang said that because of the epidemic, China faces a big problem is that the epidemic prevention and control measures will inhibit consumption. "Promoting the implementation of policies in this direction is also a market-oriented reform."
How to use it well?
Once funds are available, how to use them well is also a major issue.
As a special measure in a special period, the government work report made it clear that the 2 trillion yuan of special national debt and fiscal deficit funds will all be transferred to localities, and a special transfer payment mechanism will be established to directly reach the grassroots of cities and counties and directly benefit enterprises and the people.
Li Keqiang said that all of this money should be paid to enterprises, especially small and medium-sized enterprises, and to social security, minimum security, unemployment, pension, and special hardship personnel. A real-name system should be established. These are all accountable, and no fake accounts are allowed. It is also not allowed to steal beams for columns. "We will check our eyes wide, and welcome social supervision."
Regarding how to expand effective investment, Li Keqiang pointed out that its focus is on "two new and one important", that is, new infrastructure, new urbanization and major projects involving national economy and people's livelihood, and it is necessary to use reform methods to use these funds to mobilize social capital investment. The project must be effective and rewarding, subject to scientific demonstrations, and act in accordance with the law without leaving any sequelae. (Finish)