What Is The Reform Of Supply Side Reform? Not For Reform.

Since the beginning of this year, we have achieved a good start in economic development, structural optimization and improvement of people's livelihood.

More importantly, the understanding of supply side structural reform has been increasing in various regions and departments.

We have to look at the performance of this in three ways. The first is that every place is right.

The consciousness has been further strengthened. We are increasingly aware that the supply side reform is not for reform. If we do not carry out reform, it will be difficult to resolve the current economic development problems and achieve steady and healthy economic development.

Under such circumstances, everyone is trying to put the structural reform of supply side in place, so the enthusiasm for stocktaking, deleveraging and production capacity has increased a lot.

The second aspect is that we have a deeper understanding of the overall and systematic reform of supply side structural reform, that is, we can not regard it as a simple and periodical task, but realize that if we do not change the business behavior of the enterprise, the supply side may be very difficult to change.

At the same time, the government should actively govern, not only to manage the specific behavior at present, but also to support the deep level system and mechanism.

The third point is that

The understanding of their internal laws is more profound. It is not a matter of course to beat their heads, but to grasp the requirements of internal regularity, how to better remove the capacity, and how to ensure the steady development of the economy while going to production capacity. There are many problems in these areas, and the measures taken are also more effective.

Why should we prepare for a tough battle and a protracted war?

The Politburo meeting stressed the need to prepare for a tough battle and a protracted war.

Why is it necessary to fight hard and protracted war? Because the structural reform of supply side is a systematic reform. It involves the general outbreak of the problems accumulated over the years in the economic development of Chinese society. To solve this problem, it is not very realistic to "solve the problem at all." we need to find out the symptoms behind the problem slowly and solve it in one point one ways. This is a gradual process and a long process.

At the same time, we also see that in the past many years of development, we have already formed some existing interest patterns and behavior patterns. Behind these models, some groups have unconsciously linked up with interests. Therefore, in order to change these situations, I am afraid that it will not be difficult to fight hard and knock out some unfair pattern of interests, and it is also very difficult to deepen the structural reform of the supply side.

How to combine macro stability with microcosmic "living"?

The reason why the policy can play its role is targeted.

The meeting mentioned that we should adhere to the general thinking of macroeconomic policy being stable, industrial policy to be accurate, micro policies to live, reform policies to be realistic, and social policies to be the bottom line. These 5 aspects are precisely the different judgments we have made on different policies. For example, our macro policy must be stable. After having a basic judgement on the general situation of the overall economic development, we must maintain our efforts in macroeconomic policy, so as to avoid some of our actions and lead to a more volatile economy.

But the stability of macroeconomic policy does not mean that we do nothing. There will be many new developments in the specific economic operation.

How to solve these problems in a specific way, we must live in the microcosmic field, find out what problems to solve, what problems arise, what contradictions arise and what contradictions to resolve.

How to achieve "stable" and "live" organic combination? We must reform the policy "real", we should introduce some targeted policies and measures to solve the problem, rather than empty talk.

It depends on our industrial policy, to define what industries we should support, what capacity to eliminate, and what direction to do so that we can have clear objectives and know what we should do.

If we want to play a role, our social policy must provide a bottom line for everyone to know that whatever we do, there is ultimately a guarantee line.

These 5 policies are aimed at guiding the steady and rapid development of China's economy in the context of the new normal.

Protecting investors' rights and interests and playing a healthy role in stock market

In the specific economic field, the meeting also put forward a targeted policy.

For example, in the stock market, the meeting pointed out that we should strengthen market supervision and protect investors' rights and interests.

The goal of our stock market is clear, that is, we must provide financial support for the development of China's real economy through the development of stock market.

This goal must not deviate. If we want to ensure the correctness of this goal, we must make great efforts in regulation and not turn the stock market into a big speculative market.

If we want the stock market to play a healthy role, we must let the small and medium investors who get involved in the stock market get the proceeds, otherwise he will not come.

To achieve the goal of the stock market, we must protect the means of the stock market and safeguard the rights and interests of small and medium-sized investors.

In view of the construction of stock market over the past few years, the rights and interests of small and medium-sized investors are easily ignored or even sacrificed. This time we explicitly put forward this article, which is to find a targeted policy for us to do well in the stock market and stock market in the future.

Digestion of real estate inventory, the implementation of differentiated regulation policies

In the real estate sector, the central authorities have ordered to digest the inventory of real estate in an orderly way, focus on solving regional and structural problems, and implement differentiated regulation policies.

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Although the development is generally healthy, there are still some problems in health at the same time, which are mainly reflected in the structural aspects. For example, the total number of houses is still in short supply in the first tier cities, but in the cities outside the second tier and three lines, there may be excess capacity.

At the same time, the real estate used for housing in the market may still be in the scarcity stage, and the property of investment speculation has been saturated or even surplus.

For residents, many people may not have a house to live in yet, but others may have several apartments for investment or speculation.

The structural imbalance of the real estate market requires us to solve problems in a targeted way.

For example, for front-line and second tier cities, more efforts should be made to expand the total amount of real estate and solve the problems of people's living more appropriately, so as to appropriately reduce investment and speculation.

For cities other than two or three lines, we should further increase urbanization and increase the proportion of registered population in the city, so that a large number of rural residents can enter the cities to digest the current surplus houses.

Different types of real estate and real estate in different regions, as well as different groups of real estate, need different targeted policies.