BEIJING, June 27 (Xinhua) -- As a subdivision of the financial industry, zhengxin finance (financial activities related to government credit) is regarded as an important tool to promote local development and serve people's livelihood. Under the new development pattern, how to promote the high-quality development of political information finance has become the focus of attention in the industry.
Shi Jianping, vice president of the Central University of Finance and Economics, pointed out at the "Political Information Industry Summit Forum • 2021 Beijing Summit Dialogue" held on the 26th that China's high-quality development and green development path cannot rely solely on government investment, but also needs to attract capital from all aspects of society. Under the premise of the government's full guidance, with the opening of some public service areas with high thresholds to social capital in the past, the political credit financial model has great potential, which will help improve the efficiency of public goods, public services and public supply.
In particular, he mentioned that the green economy is the focus of global attention today. Government-led infrastructure construction, public services, and major strategic industries will bring great opportunities and create a good environment for social investment.
As he said, this year's government work report will clearly expand effective investment. Continue to support major projects to promote coordinated regional development, promote the construction of "two new and one heavy", implement a number of major engineering projects such as transportation, energy, and water conservancy, build new infrastructure such as information networks, and develop a modern logistics system. At the same time, the report mentions that it is necessary to improve the policy of supporting the participation of social capital, further dismantle the various barriers that hinder private investment, and let social capital enter, develop and make achievements in more areas.
Lu Shijie, chairman of the Political Information Industry Alliance and chairman of the Cultural and Financial Research Center of the Central University of Finance and Economics, said that in the short term, the "two new and one heavy" construction can quickly stimulate the growth of domestic investment and contribute to the sustained recovery of China's economy. In the long run, this move can increase effective supply, cultivate new technologies and new industries, and create a new growth point for China's economy.
Lu Shijie believes that infrastructure construction will bring about an increase in investment demand, and under the opportunity of the central government to accelerate the reform of the investment and financing system, actively mobilizing social capital to participate in related construction will help share the dividends of the new era to investors, and will become an important means to create a "new middle class" and enable the government, enterprises and investors to achieve a win-win situation.
It is worth mentioning that while the development of political credit finance, the problem of local government debt has also attracted attention. Officials have repeatedly stressed the importance of preventing and resolving local government debt risks, and have introduced a series of relevant measures.
Chang Baoguo, vice president of China University of Political Science and Law, said that from the current international and domestic situation, the sustainable development of the country needs strong government credit support, and also needs a more sound and more perfect political and credit financial environment, especially the rule of law environment. Du Yanfeng, an expert in the PPP expert database of the Hubei Provincial Development and Reform Commission and the Department of Finance, judged that in the future, the state will further regulate local government financing, strictly control hidden debts, and local government investment and financing will become more and more transparent.
For the development direction of local financing platforms, in the view of Wang Guangxi, chairman of Xixiu District Industrial Investment (Group) Co., Ltd. in Anshun City, Guizhou Province, if the urban investment platform wants to achieve high-quality development under the new situation, transformation is inevitable and the only way out. He believes that the relevant platforms should improve the corporate governance institutions in accordance with the requirements of the Company Law. At the same time, we should coordinate the two aspects of "investment" and "financing" and gradually clarify the relationship between the government and platform companies.
In addition, the recent introduction of new regulations on the transfer of land transfer income by relevant departments is also the focus of the industry's impact on the government's investment and financing system.
"The reform of the way in which land transfer income is collected is the trend of the times." Peng Cheng, director of the PPP Research Institute of the Chinese Academy of Fiscal Sciences, mentioned that this move is conducive to improving the modern tax system and straightening out the financial relationship between the central and local governments; it is conducive to the full and effective use of local government land revenue; it is conducive to the unified allocation and arrangement of fiscal funds by the central government, standardizing the expenditure behavior of local governments, and eliminating the dependence of local governments on land revenues. In the future, financing platform companies not only need to transform, but also need to strengthen cooperation with social capital, broaden financing channels, and innovate financing methods. (End)
Source: China News Network