April 30thSplinterlandsmetaThe political Bureau of the CPC Central Committee held a meeting to analyze and study the current economic situation and economic work.
The meeting stressed that it is necessary to conscientiously implement the spirit of the Central Economic work Conference and the National two sessions, adhere to the general tone of the work of seeking progress in the midst of stability, fully, accurately, and comprehensively implement the new development concept, speed up the construction of a new development pattern, and strive to promote high-quality development. we will continue to take advantage of the situation, avoid tightness in front and loose later, and earnestly consolidate and strengthen the trend of economic recovery.
The meeting pointed out that it is necessary to issue and make good use of ultra-long-term special treasury bonds as soon as possible, speed up the issuance and use of special bonds, maintain the necessary intensity of financial expenditure, and ensure that grass-roots "three guarantees" are spent in full and on time.
A few days ago, Wang Jianfan, director of the Budget Department of the Ministry of Finance, said in response to a question from the Daily Economic News that with the examination and approval of the National people's Congress, the Ministry of Finance has incorporated the income and expenditure of ultra-long-term special treasury bonds for 2024 into the 2024 budget. At the same time, we will solidly promote the preparatory work for ultra-long-term special treasury bonds, and actively participate in the formulation of action plans to support the country's major strategies and security capacity-building in key areas.
Take various measures to ensure the necessary intensity of financial expenditure
This meeting of the Politburo stressed that it is necessary to rely on forward efforts to effectively implement the established macro policies and implement a proactive fiscal policy and a prudent monetary policy. It is necessary to issue and make good use of ultra-long-term special treasury bonds as soon as possible, speed up the issuance and use of special bonds, maintain the necessary intensity of financial expenditure, and ensure that the grass-roots "three guarantees" are spent in full and on time. It is necessary to do a good job in evaluating the consistency of macro policy orientation and strengthen expectation management.
Wang Qing, chief macro analyst at Oriental Jincheng, told the Daily Business News on Wechat that this means that ultra-long-term special treasury bonds will be issued one after another in the second quarter, and the issuance of local government special bonds will also increase significantly. This will provide sufficient funds for infrastructure investment, which also means that the growth rate of infrastructure investment will continue to be maintained at a high level in the short term, which can effectively hedge against the impact of the decline in real estate investment.
Zhang Aoping, an economist and director of the New quality Future Research Institute, said in an interview with Wechat, a reporter from the Daily Economic News, that the corresponding project of ultra-long-term special treasury bonds is expected to be launched in the third and fourth quarters. The main directions are to speed up the realization of high-level scientific and technological self-reliance, promote the integrated development of urban and rural areas, promote coordinated regional development, enhance the ability to ensure the security of food and energy resources, promote high-quality population development, and comprehensively promote the construction of a beautiful China.
According to the data, the national general public budget expenditure increased by 2.9% in the first quarter compared with the same period last year. Among the main areas of expenditure, expenditure on social security and employment totaled 1.2708 trillion yuan, up 3.7 percent, and spending on education totaled 1.0436 trillion yuan, up 2.5 percent.Splinterlandsmeta?
Wang Qing said that this year's fiscal policy will set a "moderate boost", and the intensity of fiscal expenditure is expected to further increase, and the central government will also speed up transfer payments to local governments. to ensure that local government expenditure on "three guarantees" will not be affected by the decline in revenue from land sales.
The meeting stressed the need to continuously prevent and defuse risks in key areas. It is necessary to thoroughly implement local government debt risk resolution programs to ensure that high-risk provinces, cities and counties can not only truly reduce debt, but also develop steadily.
Wang Qing said that after putting forward and implementing the one-stop debt plan last year and effectively controlling local debt risks, this year will focus on promoting the debt restructuring of urban investment platforms, with the core being through extension and replacement to effectively reduce the pressure on urban investment platforms to repay principal and interest. At the same time, we will promote the transformation of urban investment platforms, effectively curb increments, and resolutely prevent "debt on one side and new ones on the other."
Actively develop Venture Capital and strengthen patient Capital
The meeting pointed out that it is necessary to actively expand domestic demand and properly implement the action plan for large-scale equipment renewal and consumer goods trade-in. It is necessary to create more consumption scenes and better meet the diversified and high-quality consumption needs of the people. It is necessary to implement a new mechanism for cooperation between the government and social capital and fully stimulate the vitality of private investment.
Zhang Aoping believes that a new round of large-scale equipment renewal and trade-in of consumer goods will be the most critical move to expand domestic demand in the next stage. First of all, it is of great importance. Since the Central Economic work Conference at the end of last year, decision-makers have made intensive studies on the deployment of a new round of large-scale equipment renewal and work arrangements for trade-in of consumer goods; second, there are both short-term and long-term market opportunities; from the perspective of vertical industries and horizontal regions, they involve a wide range of areas and strong policies.
"the focus of the transformation and upgrading of traditional industries in 2024 is a new round of large-scale equipment renewal. Large-scale equipment renewal is not only the starting point for short-term investment in the manufacturing industry to expand domestic demand, but also the top priority for long-term optimization of supply structure and development of new quality productive forces. " Zhang Aoping said that it is expected that in the future, in terms of supporting the upgrading of equipment and the replacement of consumer goods, there will be more "real money and silver" policies to benefit enterprises and the people.
The meeting stressed the need to develop new-quality productive forces in line with local conditions. It is necessary to strengthen the layout of national strategic scientific and technological forces, cultivate and strengthen emerging industries, build future industries in advance, and use advanced technology to enable the transformation and upgrading of traditional industries. We should actively develop venture capital and strengthen patient capital.
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