Every reporter: Zhang Huaishui, Zhang Rui, every editor: Chen Xing
The New Year is approaching, and the latest data in many fields show that China's economy continues to recover and improve, the foundation of "stability" continues to be consolidated, and the power of "progress" continues to accumulate.
Looking back on 2023, a series of major domestic financial events have connected the trajectory of economic development and depicted a new blueprint for economic development......
After the review of invited experts, we have selected the top ten domestic financial news in 2023, let us review the past and forge ahead on a new journey.
NO. 1
The heads of state of China and the United States meet
From November 14 to 17, 2023, at the invitation of US President Joe Biden, President Xi Jinping went to San Francisco to hold the China-US summit and attended the 30th APEC Economic Leaders' Informal Meeting at the same time.
NO. 2
The concept of "new quality productivity" is proposed
"Actively cultivate new energy, new materials, advanced manufacturing, electronic information and other strategic emerging industries, actively cultivate future industries, accelerate the formation of new quality productivity, and enhance the development of new kinetic energy. ——In September 2023, General Secretary Xi Jinping first proposed this important concept in Heilongjiang, which attracted great attention at home and abroad.
NO. 3
The meeting of the Political Bureau of the CPC Central Committee requested
Adjust and optimize real estate policies in a timely manner
On July 24, 2023, the Political Bureau of the Central Committee of the Communist Party of China made it clear that it will adapt to the new situation of major changes in the supply and demand relationship of the mainland real estate market, adjust and optimize the real estate policy in a timely manner, and make good use of the policy toolbox according to the city's policies.
On July 31, 2023, the executive meeting of the State Council proposed to introduce policies and measures conducive to the stable and healthy development of the real estate market according to different needs and different cities, and accelerate the study and construction of a new development model for the real estate industry.
In August 2023, the Ministry of Housing and Urban-Rural Development, the People's Bank of China, and the State Administration of Financial Supervision jointly issued the Notice on Optimizing the Criteria for Determining the Number of Housing Units in Personal Housing Loans, promoting the implementation of the policy measure of "recognizing housing without recognising loans" for loans for the purchase of first homes.
NO. 4
Prevent and resolve local government debt risks
The meeting of the Political Bureau of the Central Committee of the Communist Party of China held on July 24, 2023 proposed to effectively prevent and resolve local debt risks and formulate and implement a package of debt reduction plans. Subsequently, various government functional departments spoke out one after another. In September 2023, the "Report of the State Council on the Implementation of the Budget Since the Year of this Year" was released, and "preventing and resolving local government debt risks" was listed as the next key fiscal work arrangement.
NO. 5
The central government will issue an additional 1 trillion yuan of national bonds in 2023
On October 24, 2023, the sixth meeting of the Standing Committee of the 14th National People's Congress voted to approve the resolution of the Standing Committee of the National People's Congress on approving the State Council's additional issuance of treasury bonds and the 2023 central budget adjustment plan, clarifying that the central government will issue additional 2023 treasury bonds by 1 trillion yuan in the fourth quarter of 2023.
NO. 6
31 articles were promulgated to promote the development and growth of the private economy
On July 19, 2023, the "Opinions of the Central Committee of the Communist Party of China and the State Council on Promoting the Development and Growth of the Private Economy", known as the "31 Articles of the Private Economy", was officially released. Subsequently, a number of policies full of gold content were introduced, and efforts were made to create a good environment for private enterprises to "leap from the sea to the fish".
NO. 7
"Multiple arrows" to activate the capital market
In 2023, in order to activate the capital market and boost investor confidence, relevant departments have successively introduced a number of blockbuster policies, including: halving the stamp duty on securities transactions, reducing securities transaction handling fees, tightening the pace of IPOs in stages, strengthening the supervision of quantitative transactions, moderately relaxing the basic conditions for repurchase of listed companies, improving and optimizing the cash dividend regulatory system, the strictest "new rules for reducing holdings" in history, and raising the margin ratio of securities lending. The Central Financial Work Conference once again proposed to activate the capital market.
NO. 8
The full registration system was launched
On February 17, 2023, the full implementation of the registration system for stock issuance was officially implemented. This major reform means that the registration system is extended to the whole market, marking a decisive step in the new round of capital market reform and opening up a broader space for the high-quality development of capital market services.
NO. 9
The consumer price index is running at a low level
In the first 11 months of 2023, the national consumer price index (CPI) rose by 0.3% year-on-year, of which in November, affected by factors such as the fluctuation of food and energy prices, the CPI fell by 0.5% year-on-year, an increase of 0.3 percentage points from the previous month. The highest year-on-year CPI growth rate in 2023 occurred in January, reaching 2.1%, followed by continuous declines in February, March, and April, and then basically remained at -0.5% to 0.3%. The consumer price index is running at a low level.
NO. 10
Chinese car exports
For the first time, it surpassed Japan to become the world's No. 1
In the first half of 2023, China's auto exports have surpassed Japan's to become the world's first. From January to October, China's new energy vehicle sales reached 7.28 million units, a year-on-year increase of 37.8%. Among them, the export of new energy vehicles was nearly 1 million, a year-on-year increase of nearly 100%. The rapid growth of exports has injected new momentum into foreign trade. In the third quarter, 65% of NEV sales in the global market came from China.
Top 10 domestic financial news reviews
Zhang Yansheng
Chief Researcher of China Center for International Economic Exchanges
2023 is a year of economic recovery and development after China's three-year new crown pneumonia epidemic prevention and control transition, and "National Business Daily" organized experts and scholars to select the top ten domestic financial news, which is not only representative and authoritative, but also highlights the characteristics of the times of financial news.
Article 1: The meeting between the heads of state of China and the United States. At a time when the Russia-Ukraine conflict and the Palestinian-Israeli conflict have broken out successively, the San Francisco meeting between the heads of state of China and the United States is conducive to stabilizing China-US relations and is also of great significance to stabilizing foreign investment and foreign trade.
Article 2 The concept of "new quality productivity" is proposed. This is the key factor that determines China's economic growth potential, that is, the growth capacity of relative productivity, and accelerates the transformation of old and new kinetic energy, structural transformation and model transformation.
Article 3 The meeting of the Political Bureau of the CPC Central Committee requires timely adjustment and optimization of real estate policies. The meeting pointed out that it is necessary to effectively prevent and resolve risks in key areas, adapt to the new situation of major changes in the supply and demand relationship of the mainland real estate market, adjust and optimize real estate policies in a timely manner, and make good use of the policy toolbox according to the city's policies, so as to better meet the needs of residents for rigid and improved housing, and promote the steady and healthy development of the real estate market. This is conducive to the construction of a new development model.
Article 4 Prevent and resolve the risk of local government debt. In 2023, a package of debt reduction plans will be formulated and implemented to effectively prevent and resolve local debt risks.
Article 5 The central government will issue an additional 1 trillion yuan of treasury bonds in 2023. It provides new support for the implementation of a proactive fiscal policy to appropriately strengthen and improve quality and efficiency.
Article 6 31 articles were promulgated to promote the development and growth of the private economy. The private economy has created more than 50% of the country's investment and tax revenue, more than 60% of GDP and more than 70% of scientific and technological innovation products while occupying less than 30% of the country's mineral resources and government scientific and technological resources and less than 40% of the country's financial resources. The introduction of relevant policies will create favorable conditions for changing this situation.
Article 7 "Multiple arrows" to activate the capital market. In the next year, the capital market will help build a modern industrial system, increase residents' property income, and diversify and resolve systemic risks.
Article 8 The comprehensive registration system is opened. It marks that the reform of the capital market has entered a new stage and has taken a solid step to promote the high-quality development of the capital market.
Article 9 The consumer price index is running at a low level. The CPI data reveals that insufficient demand in 2023 is the main contradiction, which has also become the main direction of macro policy in the next year.
Article 10 China's automobile exports surpassed Japan for the first time to become the world's first. Continental was once assessed as an industry that would be difficult to achieve international competitiveness for a long time. Today, "China's automobile exports have become the world's first" has become a landmark event in economic development in the past 45 years of reform and opening up.
National Business Daily