On October 8, the Information Office of the State Council held a press conference to introduce the relevant situation of "systematically implementing a package of incremental policies, solidly promoting the optimization of the upward structure of the economy and the continuous improvement of the development trend".
The scene of the press conference
Zheng Shajie, director of the National Development and Reform Commission, said that he will work with all departments and regions to fully implement and accelerate the implementation of the decisions and arrangements of the Party Central Committee and the State Council, systematically implement a package of incremental policies, play a set of "combination punches", break through the blocking points in the implementation of the policy, and solidly promote the stability and upward movement of the economy, the continuous improvement of the structure, and the continuous improvement of the development trend, and strive to see more practical results within the year, and also lay a good foundation for the smooth conclusion of the "14th Five-Year Plan" and even the good start of the "15th Five-Year Plan" next year.
We are full of confidence in achieving the goals and tasks of economic and social development for the whole year
Zheng Shajie said that from the perspective of the macro situation, in the face of a more complex domestic and foreign environment, the mainland's economic operation is generally stable and stable, the formation of new quality productivity has been accelerated, the people's livelihood security has been continuously strengthened, new positive progress has been made in preventing and resolving risks in key areas, high-quality development has been further promoted, and the overall social situation has remained stable.
Zheng Shajie said, comprehensive analysis, from the development trend, the fundamentals of the mainland's economic development has not changed, the market potential, economic resilience and other favorable conditions have not changed, with the stock policy effect continues to release, especially the introduction and implementation of incremental policies, the recent market expectations have improved significantly, the manufacturing purchasing managers' index (PMI) has rebounded rapidly, the stock market has picked up and risen, and the "Eleventh" holiday market consumption is strong.
"We are full of confidence in achieving the goals and tasks of economic and social development for the whole year, and in maintaining sustained, stable and healthy economic and social development." He said.
Strengthen the counter-cyclical adjustment of macro policies, continue to work harder, and be more powerful
Zheng Shajie introduced, in view of the current economic operation of the new situation and new problems, the Party Central Committee, the State Council scientific decision-making, decisive action, in the effective implementation of the stock policy at the same time, around the increase in macro policy counter-cyclical adjustment, expand effective domestic demand, increase the intensity of assistance to enterprises, promote the real estate market to stop falling and stabilize, boost the capital market and other five aspects, the launch of a package of incremental policies, to promote the economy to continue to pick up.
Zheng Shajie said that the implementation of the package of incremental policies is a comprehensive and systematic work, and it is necessary to improve the pertinence and precision, and enhance the effectiveness and sustainability. Specifically, there are five "targets". First, in view of the downward pressure on economic operation, we should strengthen the counter-cyclical adjustment of macroeconomic policies, and we must continue to work harder and more vigorously in all aspects. Second, in view of the lack of effective domestic demand and other problems, the policy of expanding domestic demand will focus more on benefiting people's livelihood and promoting consumption, and actively play an effective role in driving investment. Third, in view of the current production and operation difficulties of some enterprises, we will increase the intensity of assistance to enterprises, effectively optimize the business environment, and help enterprises tide over difficulties. Fourth, in view of the continued weakness of the property market, comprehensive policy measures will be adopted to promote the real estate market to stop falling and stabilize. Fifth, in response to the fluctuating and downward trend of the stock market in the early stage, a series of effective measures have been introduced to boost the capital market.
Efforts should be made to improve the efficiency of the implementation of macroeconomic policies
Zheng Shajie said that the counter-cyclical adjustment of macro policies should be intensified. Strengthen the overall coordination and system integration of macro policies such as fiscal taxation, monetary and financial, investment and consumption, and income distribution, strengthen the collaborative innovation of policy tools, grasp the timeliness and effectiveness of policy implementation, and amplify the effect of policy combination. It is necessary to ensure the necessary financial expenditures, speed up the progress of expenditures, and increase the positive role of economic development; It is necessary to step up support for local governments to carry out debt swaps and resolve debt risks. Reducing the reserve requirement ratio, implementing strong interest rate cuts, supporting large state-owned commercial banks to replenish core Tier 1 capital, and creating a better financial environment for investment and financing of business entities and the implementation of macro policies.
In addition, Zheng Shajie introduced that the introduction of a number of reform measures that are ripe and reachable and conducive to the realization of sustained and healthy economic development will be accelerated, such as formulating guidelines for the construction of a unified national market, issuing a new version of the negative list for market access, establishing a future industrial investment growth mechanism, improving the system for promoting the deep integration of the real economy and the digital economy, and issuing opinions on improving the social credit system. At the same time, we will intensify efforts to attract and stabilize investment, further expand independent opening-up, revise and expand the catalogue of industries encouraged for foreign investment, launch a new batch of major foreign-funded projects, and implement a more open transit visa-free policy.
Use special bonds and other support to revitalize the stock of idle land
Zheng Shajie said that it will promote the real estate market to stop falling and stabilize. Adopt systematic and comprehensive measures to strictly control the increment of commercial housing construction, optimize the stock, improve the quality, increase the loan delivery of "white list" projects, use special bonds and other support to revitalize the stock of idle land, adjust the housing purchase restriction policy, release the demand for rigid and improved housing, accelerate the digestion of the stock of commercial housing, reduce the interest rate of the stock of housing loans, pay close attention to improving land, fiscal and taxation, financial and other policies, and accelerate the construction of a new model of real estate development. Policies such as reducing the interest rate on existing housing loans have been introduced, some cities have completely canceled purchase restrictions, some cities have further narrowed the purchase restriction area, relaxed the purchase restriction conditions, and other policies are also actively planning and actively promoting.
Efforts to Boost the Capital Market Various policies are being rolled out at an accelerated pace
Zheng Shajie said that efforts should be made to boost the capital market. The relevant departments will take strong and effective comprehensive measures to vigorously guide medium and long-term funds to enter the market, open up the blocking points of social security, insurance, wealth management and other funds into the market, support the mergers and acquisitions of listed companies, steadily promote the reform of public funds, and study and introduce policies and measures to protect small and medium-sized investors. At present, the introduction of various policies is being accelerated.
Next year, we will continue to issue ultra-long-term special government bonds
Liu Sushe, deputy director of the National Development and Reform Commission, said that the list of some "double" construction projects in 2025 and the investment plan in the central budget should be issued in advance. In 2025, we will continue to issue ultra-long-term special treasury bonds and optimize the investment direction, and the "two-fold" construction will still maintain a strong arrangement. At present, the National Development and Reform Commission, together with relevant departments and localities, is planning and reserving a number of major projects of "double" construction from top to bottom, and simultaneously accelerating the "soft construction" of policy, planning, institutional and mechanism innovation, and jointly achieving the "double" goal by continuously improving the investment mechanism and improving investment efficiency, and coordinating "hard investment" and "soft construction". The central budget will continue to support basic, public-welfare, and long-term projects, and speed up the completion of the shortcomings and weaknesses of the mainland's modernization drive.
He said that considering the early issuance of the project list and investment plan, it will help to speed up the preliminary work of the project and start the implementation first, so it is planned to issue a list of 100 billion yuan "double" construction projects and a 100 billion yuan central budget investment plan in advance at the end of this month according to the procedure. The projects involved have been carefully screened by the National Development and Reform Commission and relevant departments, and meet the investment direction, mature preliminary work, and have the conditions for issuance, and can form a physical workload as soon as possible within the year.
New measures to optimize and improve the management of local government special bonds should be introduced as soon as possible
Liu Sushe said that make full use of local government special bonds. On the one hand, we will urge the relevant localities to complete the issuance of the remaining 290 billion yuan of local government special bonds by the end of October, and at the same time speed up the implementation of the local government special bond projects that have been issued and the progress of the use of funds, so as to promote the formation of more physical workload. On the other hand, in view of some outstanding problems in the issuance, use and management of local government special bonds, the National Development and Reform Commission and the Ministry of Finance are currently stepping up research on reasonably expanding the scope of support for local government special bonds in accordance with the deployment, appropriately expanding the field, scale and proportion of capital funds, studying and carrying out pilot projects for project review autonomy, implementing "green channels" for continued projects, etc., and introducing new measures to optimize and improve the management of local government special bonds as soon as possible.
The legislative process of the law on the promotion of the private economy will be accelerated
Zheng Bei, deputy director of the National Development and Reform Commission, said that the legal system related to enterprises should be further improved. On the one hand, we will speed up the legislative process of the law on the promotion of the private economy, and legally put down the requirements for equal treatment of state-owned enterprises and private enterprises. Accelerate the revision of the Tendering and Bidding Law, focus on cracking down on local protection, and promote the fair participation of enterprises of all types of ownership in market competition. Promote the revision of the regulations on guaranteeing the payment of funds for small and medium-sized enterprises, and promote the timely payment of small and medium-sized enterprises by government agencies, public institutions, and large enterprises. On the other hand, for laws, regulations and policies involving unequal treatment of enterprises, we will speed up the clean-up progress and break down the institutional barriers that hinder fair competition of enterprises.
