Text: Ikan Finance
Do you know? On 12 April, the central bank announced that the mainland's per capita deposits had reached 110,000 yuan, which is not a small amount, and it is enough to eat and drink spicy food for a long time. But why, seeing the cost of haircuts in the tens of yuan, a cup of milk tea of twenty or thirty yuan, and a small snack of ten yuan, everyone still feels that they can't afford it and are becoming more and more "poor"?
In fact, in our daily life, a large part of the expenses are inseparable from local funding, and now there is no money in the local account, our life is naturally tight, the national economy has been growing, and the finance has been giving subsidies to the local government, so where is the money spent?
The mess left by the pandemic
During the period of 2020~2022, most people spend time at home, and the days often pass quickly, and these three years are jokingly called "the three years that were stolen".
At that time, the epidemic was menacing, and the high transmissibility and serious sequelae in the early stage made the country dare not let it go, so it united the strength of the whole country to establish a large number of shelter hospitals, dispatched a large number of doctors to conduct pathological research, developed a variety of vaccines, and transported materials from all over the world to protect the vast majority of the people.
But the scales need to be balanced, and a lot of money has been invested in the fight against the epidemic, and it has lasted for three years, which is enough to make it difficult for any place to become stretched. Most of the funding sources of local finance are taxes on local enterprises and investment attraction.
However, the epidemic has brought most production activities to a standstill, and many small and medium-sized enterprises have had to shut down their companies and sell their assets due to the rupture of the capital chain, and there has been a big hole in local finances.
And not only the company, we people have also stayed at home for three years, many people have a basic salary is good, not to mention a job promotion, everyone is more willing to save money than go out to spend in order to prevent risks. When everyone's desire to consume is low, the economy will not be able to flow, and even if the local government has been subsidy, the bankruptcy of small, medium and micro enterprises is becoming more and more common.
In the face of risks, those large companies have also become conservative, and foreign investment and project expansion have basically stopped, replaced by cost reduction, which has virtually reduced many jobs, and it has become difficult to find a good job. When jobs are reduced, social wealth is reduced, and tax revenues are much lower.
However, the local finance lacks tax revenue, and spends money to buy reserves, so the natural finances are tight, and subsidies to many places are reduced.
Real estate is no longer the backbone of the economy
As I said before, everyone has no spare money now, although it was reported a few days ago that the average savings amount per person is 110,000 yuan, but even if everyone has this 110,000 yuan in deposits, compared with the real estate of 100,000 yuan, it is still a small thing.
In fact, the land economy has always been the "pillar" of local fiscal revenue, because everyone has a strong willingness to buy a house in the past, so the bank is very optimistic about the value of land, as long as there is land, will give local loans, and there is money and land, naturally able to attract foreign investment to land. For a long time, it was this mode of borrowing money to develop.
With the explosion of real estate groups such as Evergrande and Country Garden, the struggle of small real estate enterprises, the local land has changed hands, and the status of the real estate market has plummeted.
Although there are special measures in various places, such as building school district houses, improving the delivery standards of houses, and finally achieving a 100% housing rate, there is no money, and there will be no money because of the stimulation of any means, so that people want to take out a loan to buy a house.
Real estate has lost the "pillar" of the local economy, and most of the land transfer funds and taxes on housing purchases have disappeared, and local finances are of course tight.
The pace of large-scale infrastructure has slowed down
If you want to get rich, build roads first, this is true, but everyone may have seen that there is always a section of road that will be repaired over and over again, either to change the water pipes, or to pave the road, and sometimes to bury wires, when the place has money, there is no problem in doing this.
Building good infrastructure can not only improve the convenience of local residents' lives, but also take this opportunity to attract investment, but suddenly one day, infrastructure has changed its taste, it is no longer a convenience project, but a face project.
For example, some time ago, Dushan County in Guizhou Province was obviously in debt of more than 40 billion yuan, but under the banner of developing tourism, it spent about 200 million yuan to build an unfinished building called "Water Division Building".
The state has also realized this, reduced its investment in domestic infrastructure, and instead devoted itself to helping third world countries build, exchanging oil and minerals from them to help the economic cycle at home.
At the same time, the state has vigorously subsidized the new energy industry, opened up the market, increased a lot of jobs, and also gave local opportunities to let everyone drink more soup and ease the pressure of tight finances
In any case, although the local finances are tight and everyone's wallets are tight, there are also many cheap and people-friendly brands that occupy the market. In any case, the most important thing is to live a good life.
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