Shanghai has issued 24 policy "combination fists": expand effective investment and stabilize economic development

China Times (www.chinatimes.net.cn) reporter Yu Sha Hu Jinhua reported in Shanghai

"In the past 2021, with the joint efforts of the whole city and the high growth rate of 10.3% in 2020, it is expected that Shanghai's fixed asset investment will increase by about 8% year-on-year." At the press conference of the municipal government held on the morning of January 18, Hua Yuan, deputy secretary general of the Shanghai Municipal Government and director of the Municipal Development and Reform Commission, revealed that the investment situation in Shanghai in 2021 is generally good, effectively helping the stable and healthy development of the economy and society.

Entering the new year, how will Shanghai reasonably expand effective investment and create a better investment environment in 2022? On January 18, Shanghai officially issued the "Several Policies and Measures for Expanding Effective Investment and Stabilizing Economic Development in Shanghai in 2022" (hereinafter referred to as "Policy Measures"), which is divided into five aspects and 24 specific policy measures.

"The launch of the 'combined fist' of 24 policy measures is exactly in response to the main tone of the 2021 Central Economic Work Conference emphasizing that 'next year's economic work should be stable and steady, and 'adhere to high-quality development' and 'adhere to economic construction as the center' reflect the importance of growth driven by high-quality development." On January 19, Yu Junli, deputy director of the Research Center for Reform, Innovation and Governance Modernization of Shanghai Jiaotong University, told the China Times reporter.

Actively expand effective investment

Huayuan said that in 2022, in order to maintain stable and high-quality economic development, it is extremely important to do a good job in investment work, and it is necessary to formulate targeted policies and measures to reasonably expand effective investment.

In the process of policy research and formulation, we will focus on grasping the general tone of the work of "steady words and steady progress", closely follow the actual situation in Shanghai, strengthen the capacity building of basic guarantees, continue to strengthen the core functions of the city, accelerate the cultivation and expansion of new momentum for development, focus on the key areas that undertake the national strategy, and put forward targeted policy measures. Continue to optimize the investment environment, increase the intensity of service enterprises, improve the convenience of investment and construction, focus on solving investment pain points and blockages, create a more favorable investment environment, and fully stimulate the vitality of social investment.

According to the reporter's combing, the "Policy Measures" is divided into five aspects: accelerating the construction of major projects, strengthening the guarantee of project capital elements, stimulating the momentum of social investment, creating a new space for urban development, and continuously optimizing the investment environment, with a total of 24 specific policies and measures.

The construction of key projects is the key to expanding effective investment. There are 5 policy measures: one is to fully implement the annual investment targets of major projects; the second is to accelerate the promotion of projects under construction; the third is to increase the coordination of planned newly started projects; the fourth is to carry out infrastructure investment in a moderately advanced manner; and the fifth is to increase the reserve of key projects.

In terms of strengthening the guarantee of project capital elements, a total of four policy measures are proposed to strengthen the government's financial resource guarantee, accelerate the issuance and use of special bonds, increase the accurate supply of investment policies, and strengthen the overall balance of resource element indicators.

In terms of stimulating the momentum of social investment, there are four policy measures to comprehensively promote the digital transformation of cities, develop and expand the energy level of emerging industries, accelerate the promotion of green and low-carbon energy development, and strengthen the whole life cycle management of land.

In terms of creating a new space for urban development, the "Policy Measures" has a total of 7 policy measures to promote Pudong New Area to build a leading area for socialist modernization construction, to build a new area of Lingang in the free trade zone with high standards, to build a high-level Yangtze River Delta integration demonstration zone, to build a high-quality Hongqiao international open hub, to promote the planning and construction of new cities from a high starting point, to build a world-class waterfront space of "one river and one river", and to accelerate the development of "north-south transformation".

In terms of continuously optimizing the investment environment, there are four policy measures: first, carry out large-scale enterprise visits, listen to the opinions of enterprises in depth, and concentrate on solving a number of bottlenecks that affect the investment and development of enterprises; second, focus on creating a high-quality market environment and introduce high-quality major industrial projects; third, optimize foreign investment services, give play to the role of the municipal major foreign-funded project service system, and increase the coordination and promotion of major foreign-funded projects; fourth, continue to improve the convenience of investment and construction, and rely on the "One Netcom Office" to deepen the reform of the investment project approval system.

Create a better investment environment

Specifically, in the fourth measure of key project construction, it is mentioned that in 2022, Shanghai will moderately advance infrastructure investment, and Shanghai will accelerate the promotion of a number of port areas, waterways, railways, rail transit, water conservancy, underground pipelines and other projects related to the long-term development and safety of the city. At the same time, Shanghai will actively lay out the "new infrastructure" project represented by new networks, new facilities, new platforms and new terminals.

In this regard, Yu Junli, deputy director of the Research Center for Reform, Innovation and Governance Modernization of Shanghai Jiaotong University, said that the moderately advanced construction of project infrastructure is also with Shanghai Municipality's continuous creation of a market-oriented, rule-of-law, and international business environment, strengthening the integration of reform systems, deepening the construction of a world-class business environment, and implementing the Shanghai Business Environment Innovation Pilot Implementation Plan to maintain the main rhythm of "same frequency resonance", which can enhance the international competitiveness of Shanghai's business environment as a whole.

In addition, in terms of comprehensively promoting the digital transformation of cities, Shanghai will make good use of the "new infrastructure" preferential interest rate credit special project of more than 100 billion yuan to guide social capital to increase investment in "new infrastructure". Accelerate the implementation of a number of major demonstration projects for new infrastructure in the field of hospitals, smart factories and intelligent transportation in the future. Coordinate the use of the city's energy consumption indicators, and strengthen the guarantee of green data center indicators。

Shanghai will also make good use of the support policies for the integrated circuit industry and software industry in the new era, and implement special preferential policies for credit related to integrated circuits and artificial intelligence in the city. Encourage market-oriented financing guarantee institutions to provide financing guarantee services for integrated circuit equipment and material enterprises in this city, and give certain subsidies to eligible guarantee fees. Deeply promote the implementation plan for the development of the new energy automobile industry. Give full play to the role of special funds for technological transformation and venture capital guidance funds to promote the high-quality development of advanced manufacturing industries.

Shanghai will introduce a new round of support policies for renewable energy, charging and replacing facilities, promote the development of offshore wind power projects in the waters of Hangzhou Bay, and accelerate the comprehensive development and utilization of "photovoltaic +" in various industries and fields。 Formulate and promote the implementation of carbon peak carbon neutrality implementation opinions and supporting policies and measures, and actively guide social capital into a new green and low-carbon track.

Yu Junli said in an interview with the "China Times" reporter that in order to reverse the triple pressure of "demand contraction, supply shock, and weak expectations", the government has driven the local economy into the inflection point of returning to normalcy through proactive fiscal policies and optimized structural policies to guarantee growth, and the proportion of the real economy such as investment-driven (high-end) manufacturing has continued to increase, and the ideal city that the people are satisfied with has been better built.

Finally, from the perspective of enterprises, Yu Junli believes that enterprises, as microeconomic entities, should join the corresponding work of the "Policy Measures" with a more active and proactive mentality, and at the same time respond to the central government's proposal to "focus on building a pro-Qing government-business relationship that is close and measured, clean and promising", create a clean and healthy political ecology and a good development environment, and play an important role in improving the level of urban public services, promoting economic and social development and promoting the improvement of people's livelihood.