The public political meeting of the Central Committee of the Communist Party of China was held yesterday
As usual, every meeting in July must be the deployment of economic work in the second half of the year; President Xi Jinping’s opening ceremony at the party’s symposium earlier this day indicated that the second half of the year will be The celebration of the 70th Anniversary of the Founding of New China is of great significance for economic work, indicating that maintaining stability and promoting sustained and healthy economic development will be the main tone. If we look back at the press conference on Hong Kong issues on Monday, Hong Kong and Macao, the argument is “moderate” than expected. It is believed that this is based on this “big background.”
The announcements of the Politburo meeting and the symposium of non-party people have the following observations:
(1) The judgment on the downward pressure on the economy has not changed, but it emphasizes “doing things well.” When the Politburo meeting deployed the current economic work on April 19 after the first quarter, due to the escalation of the Sino-US trade war, it was described at the time that “the economic operation still has many difficulties and problems, the external economic environment is tightening, and the domestic economy is down. “The pressure”; this time, while stressing that “main macroeconomic indicators remain within a reasonable range…the positive factors driving high-quality development have increased”, but also pointed out that it is facing new risk challenges, and the downward pressure on the domestic economy is increasing. “We must increase our sense of concern. … is good at turning crises into opportunities.”
(2) The positioning in monetary and fiscal policies has been fine-tuned in the first half of the year. When the Politburo meeting deployed the economy in the first half of the year on April 19, it proposed that “a positive fiscal policy should be strengthened and a sound monetary policy should be tight and moderate”. This formulation is exactly the same, but adds a sentence to “keep a flow.” It is expected that monetary policy will be more loose than the first half of the year. At the same time, it emphasizes “continuing the implementation of the policy of reducing tax reductions and reducing fees”. In other words, one of the main tools for stimulating consumption and growth in the second half of the year is tax reduction and fee reduction. According to the earlier Prime Minister Li Keqiang’s promise, the annual tax reduction and reduction will be no less than 2 trillion yuan, and in the first half of the year, tax reductions and fees have been reduced by 1.17 trillion yuan, that is, the remaining 830 billion yuan tax cuts. Reduced space.
(3) Formulating measures to deal with trade frictions. The 12th round of high-level business negotiations between China and the United States has been held in Shanghai for two days. It is estimated that there may be more than a few rounds of negotiations, and it is expected to reach an agreement. The meeting called for effective response to economic and trade frictions, that is, comprehensively doing the “six stable” work, increasing opening up to the outside world, and stepping up implementation of a series of major opening measures.
(4) The positioning of the property market regulation is slightly “strengthened”. At the April meeting, I reiterated that “I want to insist that the house is used for living, not for the positioning of the speculation…” Although the expressions are basically the same, they add a relatively hot statement: “Do not take real estate. As a means of stimulating the economy in the short term, it is reflected in the long-term economic policy and has “abandoned” the “brick economy” as a short-sighted means of stimulating growth and domestic demand.
(5) Further establishing the positioning of the science and technology board. The Science and Technology Board is a new product that Xi Jinping advocated to promote the birth. In April, he emphasized that “the science and technology board should truly implement the information disclosure as the core securities issuance registration system”. After the successful listing of the first week of Science and Technology last week, the meeting reaffirmed that “the science and technology board should stick to its position and implement the registration system with the core of information disclosure to improve the quality of listed companies”.
At the symposium of non-party people, Xi Jinping put forward three hopes for economic work in the second half of the year, including
(1) to correctly understand the economic situation, enhance confidence, and resolve. (2) It is necessary to focus on key objectives and tasks, but pointed out that changing the development concept, optimizing the economic structure, and transforming the growth momentum will not be smooth. (3) It is necessary to lay a good job of preparing for the prevention and protection of risks, and to fight the strategic warfare of turning the dangers into danger and turning the crisis into opportunity. It also requires arrogance and refutation of false statements.
Our common sayings often make people laugh. “We must be arrogant and have to wear a helmet.” The three points of the above-mentioned habits are not reversed. They must wear helmets and be afraid of being human.