It is the premise of reform and innovation to overcome difficulties and break the path.
For a long time, dripping water can wear away the stone, and seizing every minute is the essence of transformation and upgrading.
Learn from a painful experience, when it is broken, it will be broken, and the production capacity will open a new end of rebirth; Classified regulation, city-specific policies, destocking and releasing the new potential of traditional engines; Actively and steadily, keep the bottom line, and high leverage cannot grow willfully; Do a good job of subtraction and optimal addition, reduce costs and release new vitality in the market; Science and technology lead and innovation drive to fill the "wooden bucket" with water.
"Biting hard bones, fighting tough battles and moving cheese are the characteristics of the new round of reform." General Secretary of the Supreme Leader stressed during his inspection and investigation in Anhui: "The key point is to break the word and face difficulties, and to stimulate the motivation and let the people constantly have a sense of gain." At the 24th meeting of the Deep Reform Group, General Secretary of the Supreme Leader further emphasized that promoting structural reform on the supply side is an important test of the determination to comprehensively deepen reform. Reform is painful, but not reform is long-term pain. As long as we are sure of the reform, we must grasp it to the end in order to win.
Stretch to make up for each other’s shortcomings, be tenacious and strong, and make structural reforms on the supply side.
Improve quality and efficiency, involve in deep water, attack distant mountains, and "three to one, one to one, one to make up" to solve the problem.
Stay calm, hold color training, dance beautifully, and press the fast forward button for structural adjustment.
1,000 days of staying up all night in public, China’s reforms in various fields have been accelerating, and the supply-side innovation, balance, stability, mobility and innovation have been coordinated and concurrent. A series of colorful exercises are drawing a new blueprint for China’s economic transformation and upgrading.
Phoenix emerges from nirvana and becomes a butterfly.
"De-capacity" improves quality and efficiency with "transformative power"
The task of de-capacity is still arduous, and the determination cannot be shaken. As the Supreme Leader emphasized at the G-20 Hangzhou Summit, "China has the greatest strength and the most practical measures in terms of de-capacity, and it will do as it says."
De-capacity is the primary task of supply-side structural reform, and the coal and steel industries with serious overcapacity are the first to bear the brunt.
Affected by the slowdown of economic growth, the optimization of economic structure and the constraints of ecological environment, the demand for coal and steel in China has been slowing down in recent years, and the production capacity is seriously overcapacity, which has restricted the development of the industry.
According to the data of China Coal Industry Association, by the end of 2015, the total capacity of coal mines in China was 5.7 billion tons, but the consumption in the same period was only about 4 billion tons. With the "cliff-like decline" of coal prices, the total profit of coal enterprises above designated size in China last year was 44.08 billion yuan, shrinking by more than half, and the loss of the industry exceeded 90%.
The coal industry is also the hardest hit. According to the data of China Iron and Steel Industry Association, the current crude steel production capacity in China is about 1.2 billion tons, and the utilization rate is less than 67%. Steel prices continued to fall. In 2015, member steel enterprises realized a total profit loss of 64.534 billion yuan, accounting for more than half of the losses.
The industry generally reflects that the profit from selling one ton of coal can’t buy a bottle of drinks; Steel sold for cabbage price. There is a serious imbalance between supply and demand in the market, and de-capacity is imminent.
Learn from a painful experience, and when it is broken, it will be broken. Although de-capacity is as painful as a strong man’s broken wrist, the country’s determination to de-capacity is firm. In an exclusive interview with the People’s Daily, an authoritative person said that if the zombie enterprises are disposed of at a reduced capacity, those who are weaned will be weaned, and those who are cut off from loans will be cut off, and the "infusion tube" and "ventilator" will be resolutely unplugged.
The central government has clearly put forward the goal of reducing production capacity: starting from 2016, China will reduce crude steel production capacity by 100 million to 150 million tons in five years, and withdraw coal production capacity by about 500 million tons in three to five years, and reduce and reorganize it by about 500 million tons.
Staff placement is the key link to resolve excess capacity, and it is very important to do a good job in staff placement. The central government has repeatedly stressed that the resettlement of personnel should be the top priority in dealing with "zombie enterprises" and resolving excess capacity. Training that can be trained, transfer jobs that can be transferred, and those that can’t really transfer jobs should do the detailed work. To this end, the central government has arranged 100 billion yuan of special award funds, focusing on the resettlement of employees.
In addition, in order to solve the difficulties and pain points of excess capacity, in the first half of this year, eight major departments, including the National Development and Reform Commission, the Ministry of Human Resources and Social Security, and the China Banking Regulatory Commission, studied and formulated eight special supporting policy documents on issues such as fiscal and taxation financial support and employee placement. All provinces, autonomous regions and municipalities have signed a "military order" to reduce production capacity, and those who fail to complete the task will be seriously held accountable.
With the support of policies, enterprises are determined to completely shut down excess capacity, and have achieved certain results. The data shows that from January to August this year, the national coal output decreased by about 10% year-on-year, and the operating conditions of coal enterprises improved. In the first half of this year, the national steel production capacity was more than 13 million tons, and about 30% of this year’s target tasks have been completed; The coal industry has withdrawn a total production capacity of 72.27 million tons, which is 29% of the annual target.
Classified regulation is based on city policy.
"destocking" releases potential with "balance"
In recent years, with the rapid development of China’s real estate, long-term accumulated problems and contradictions are increasingly apparent. The mismatch between supply structure and demand has caused a large backlog of inventory, and the serious urban differentiation has also become a prominent problem.
The data shows that in February 2016, the area of commercial housing for sale increased to 739.31 million square meters, reaching an all-time high. The construction area under construction will take at least five or six years to be digested, and these stocks are mainly concentrated in cities with sufficient land supply and less market demand.
The central government regards destocking as one of the five key tasks of supply-side structural reform. Since the beginning of this year, the state has made efforts from the supply side and successively issued a number of policies: vigorously develop the housing rental market, implement both purchase and rent, and allow real estate enterprises to lease housing to speed up destocking; At the same time, in terms of land supply, it is required to moderately increase the scale of land use in areas with tight housing supply and demand, reduce or even stop the supply of housing land in cities with high real estate inventory, and accurately destocking through sub-city policies.
Some cities with high inventory have also introduced measures according to local conditions to stimulate the release of demand. In the first half of this year, Shanxi, Inner Mongolia, Guangxi, Hainan, Fujian, Anhui and other 16 provinces issued supporting policies for destocking with different efforts, releasing new demand from land, housing lease and shantytown renovation.
With the joint efforts of various policies, the effect of real estate destocking has initially appeared. According to the data of the National Bureau of Statistics, by the end of August this year, the area of commercial housing for sale nationwide was 708.7 million square meters, which has been reduced for six consecutive months, with a cumulative decrease of about 30 million square meters.
From the perspective of housing prices, since the beginning of this year, the real estate market in the third-and fourth-tier cities that are at the "freezing point" has achieved initial results. At the same time, the fiery property market has expanded from Guangzhou to Shenzhen at the beginning of the year to second-tier cities such as Nanjing, Suzhou, Hangzhou and Xiamen. The excessively rapid rise in housing prices will not only lead to the digestion of inventory, but also drive the investment enthusiasm of developers, and it is also necessary to be alert to the new inventory that may be brought.
To this end, according to the actual situation of the real estate market differentiation, the state requires adhering to classified regulation and taking measures according to the city. Since the beginning of this year, some first-and second-tier cities where house prices have risen too fast have stepped up regulation. First, the first-tier cities Shanghai and Shenzhen introduced the property market tightening policy; Then, the regulation of hot second-tier cities increased. In second-tier cities such as Xiamen, Hefei, Nanjing and Suzhou, the government has successively introduced regulation policies, or increased the down payment ratio, or restricted the number of housing units, or made new regulations on land auction.
In the last two months, the price increase in some cities has been falling, especially after some purchase restriction policies came out, and the previous consumption potential concentrated on releasing a number of housing demand. The price increase in first-tier cities and some second-tier cities has fallen back, and the previous upward trend has been initially contained.
Destocking is a protracted war, and the pressure still exists. De-stocking should be organically combined with orderly guiding the process of urbanization and the citizenization of migrant workers. Through the "de-stocking" of people’s urbanization, we should gradually improve the differentiated control policies with the central government taking macro and local as the main body.
Hold the bottom line and squeeze out the foam
"De-leverage" shows wisdom with "safety"
High leverage is becoming a lingering worry in China’s economic development. Some corporate bonds in the bond market have defaulted, housing prices in a few cities in the real estate market have risen too fast, and cases in the field of illegal fund-raising have been high. These new situations and problems are closely related to the high leverage ratio, and deleveraging is imperative.
"Trees can’t grow to the sky, and high leverage will inevitably bring high risks. If it is not well controlled, it will lead to a systemic financial crisis, which will lead to negative economic growth and even ruin the savings of ordinary people."
In an article in the People’s Daily on May 9, authorities stressed that the most important thing at present is to actively and steadily promote deleveraging in accordance with the requirements of supply-side structural reform. To de-leverage, we should not flood water at the macro level, break rigid redemption in the micro level in an orderly manner, deal with illegal fund-raising and other chaos according to law, and effectively regulate the market order.
It has become a consensus to abandon the idea of "flooding with water". Authoritative sources pointed out that "in the case that the marginal effect of monetary expansion to stimulate economic growth continues to decrease, we should completely abandon the illusion of trying to accelerate economic growth by loosening monetary overweight and reducing leverage."
In recent years, the central bank has always adhered to the stability and neutrality of monetary policy, and created a neutral and moderate monetary and financial environment for structural reform. The expected target of M2 this year is about 13%, which is still a sound arrangement.
The key to deleveraging lies in the enterprise, and the difficulty lies in the enterprise. According to the research data of the National Finance and Development Laboratory, by the end of 2015, the debt level of non-financial enterprises was relatively high, with the debt ratio as high as 156%. Especially in capital-intensive and overcapacity industries, due bonds appear intensively and financial risk exposure increases.
What should I do? Authoritative sources pointed out that enterprises that really cannot be saved should be resolutely closed, and those that go bankrupt should go bankrupt according to law. Do not engage in "debt-to-equity swap" or "pandering" restructuring.
Many experts told the People’s Daily reporter that in the process of deleveraging, we must follow the principles of marketization and legalization, and the government should play the role of market builder and social security. Among them, the supply of bankruptcy system is a key step for enterprises to deleverage and restore vitality. Li Shuguang, director of the Research Center for Bankruptcy Law and Enterprise Restructuring of China University of Political Science and Law, believes that this will help traders who break the market credit chain to leave in time.
In fact, it has always been a wise test to find the greatest common denominator of the market and promote reform as a whole. De-leveraging is a long and arduous process, which requires active, steady and precise policies. The central government clearly linked "deleveraging" and "de-capacity" with the basic reforms of state-owned enterprises and the financial sector. Specific to the case, it may be a feasible scheme that is considered together from the perspective of market, government and social stability and forms a consensus.
Do subtraction well and do addition well.
"Cost reduction" benefits entities with "action"
"Now the joint boarding inspection is completed once, and the annual cost saved for enterprises can reach more than 13 million yuan." The person in charge of Guangdong Sinotrans Shipping Agency Co., Ltd. said. Thanks to the "three mutual" customs clearance reform of the trinity of "land, water and network" in Dongguan, the costs of enterprises have gradually decreased and the market environment has become healthier.
Enterprises can be profitable and dynamic, and the economy can have lasting development momentum. As one of the five major tasks of supply-side structural reform, cost reduction has entered the stage of tackling difficulties, and the fundamental solution to the task of cost reduction depends on reform and innovation.
In recent years, the development of China’s real economy still faces high cost pressure in many fields. Most enterprises report that there are obvious problems such as "high institutional transaction cost", "high financing cost" and "heavy tax burden". According to the Report on the Survey and Evaluation of Enterprise Burden in 2015 issued by the SME Development Promotion Center of the Ministry of Industry and Information Technology, 79% of enterprises reported that "labor costs are rising rapidly" and 66% reported that "financing costs are high". In addition, the proportion of enterprises reflecting "heavy tax burden" and "difficulty in recruiting workers" reached 54% and 43% respectively.
In view of this, the central government regards cost reduction as one of the five major tasks of supply-side structural reform, and proposes to carry out actions to reduce the cost of enterprises in the real economy.
Since the beginning of this year, China’s cost reduction measures have been continuously enriched, covering decentralization, reducing corporate tax burden, reducing corporate financial costs, comprehensively starting the reform of the camp, reducing logistics costs, and reducing industrial and commercial electricity prices, so as to reduce the burden on enterprises in all directions. In August this year, the state issued the Work Plan for Reducing the Cost of Enterprises in the Real Economy, which made a comprehensive arrangement for reducing the cost of enterprises in the real economy in the coming period, and clearly stated that in about three years, the comprehensive cost of enterprises in the real economy will be reasonably reduced, their profitability will be significantly enhanced, and their industrial competitiveness will be further enhanced.
At the same time, local cost reduction programs are also being introduced intensively. According to statistics, at present, more than 20 provinces have formulated and introduced cost reduction work plans and targets in light of local actual conditions. Among them, Guangdong strives to reduce the burden on enterprises by 400 billion yuan by the end of this year, Tianjin is expected to reduce the burden on enterprises by more than 58 billion yuan each year, Jiangsu is expected to reduce the burden on enterprises by 100 billion yuan this year, Jiangxi is expected to reduce the burden on enterprises by 50 billion yuan, and Guizhou is expected to reduce the burden on enterprises by more than 70 billion yuan throughout the year … …
As an important part of supply-side structural reform, cost reduction not only requires the government to increase reform and innovation, but also requires enterprises to "take the initiative" and actively participate in it. The state strongly encourages and guides enterprises to tap their internal potentials, guides enterprise management innovation and lean production, and uses information technology to reduce costs; Strengthen the promotion of advanced technology and encourage enterprises to strengthen target cost management. Only when the external and internal forces are exerted at the same time can the cost be minimized.
It should be noted that the previous cost reduction policies and measures have begun to bear fruit. According to statistics, this year 1-mdash; In July, the cost per 100 yuan of main business income of industrial enterprises above designated size was 85.83 yuan, down 0.17 yuan year-on-year; The profit rate of main business income was 5.67%, up 0.19 percentage points year-on-year.
It takes a long time to reduce costs. On the basis of the previous cost reduction results, through the joint efforts of the government and enterprises, the implementation of the cost reduction plan will further reduce the cost of enterprises and inject more kinetic energy into the real economy.
Innovation drives thinning and bottoming.
"Make up the shortcomings" and lay a solid foundation with "innovation"
On September 15th, China launched the Tiangong-2 Space Laboratory with the Long March-2 FT2 rocket at Jiuquan Satellite Launch Center. (Photo by Xinhua News Agency reporter Zhen Zhenhua)
"Innovation is the first driving force for development. Grasping innovation means grasping development, and seeking innovation means seeking the future. The key to adapting to and leading the new normal of China’s economic development is to rely on scientific and technological innovation to transform the development momentum. "
In recent years, China’s technological innovations in high-performance computers, manned spaceflight, lunar exploration, mobile communication, quantum communication, Beidou navigation, manned deep diving, high-speed railways, aircraft carriers and other fields have provided strong support for China’s economic and social development. At the same time, we should also see that although the emerging science and technology industries are growing strongly, they are not enough to offset the slowdown of traditional industries, and the backward technical equipment and insufficient innovation ability of enterprises are still the weak links in China’s economic transformation and upgrading.
As an important part of the supply-side structural reform, the short board is to make up these short boards. The central government emphasizes that it is to improve the "barrel capacity" of China’s economy by deepening reform, implementing innovation-driven, expanding effective supply, promoting the concentration of innovative elements to enterprises, and accelerating innovation in technology, products and formats.
As General Secretary of the Supreme Leader pointed out: "Promote the sustained and healthy development of China’s economy and society, promote the supply-side structural reform, and implement ‘ Three go, one drop and one supplement ’ The task must be a fundamental change in the endogenous motivation and vitality to promote development, and shape more leading development driven by innovation and giving full play to the first-Mover advantage. "
Since the beginning of this year, many provinces in China have issued specific action plans to "fill the shortcomings" in supply-side reform, with an investment scale of more than one trillion. One of them is the transformation and upgrading of traditional industries. For example, Guizhou has proposed that 70 billion yuan will be invested in technological transformation this year, while Sichuan has allocated 1 billion yuan of provincial industrial development funds for technical transformation and technological innovation subsidies. Shanghai proposes to strive to form a high-quality, sustainable and dynamic industrial development pattern by 2020.
On the other hand, we should vigorously develop strategic emerging industries. For example, Zhejiang mentioned that it should vigorously develop seven major industries, such as the core industry of information economy, financial industry and high-end equipment manufacturing industry; Guizhou will focus on the development of big data industry, and the development goal is that the total scale will increase by more than 20% annually. Shanghai said that it is necessary to give full play to the overall coordination role of Zhangjiang National Independent Innovation Demonstration Zone, explore the establishment of cooperation and exchange mechanisms among industrial parks in this city, and better promote the project landing and industrial layout optimization.
If you have extraordinary merits, you must treat extraordinary people. "Talent is the foundation of innovation, and innovation-driven is essentially talent-driven." General Secretary of the Supreme Leader emphasized that whoever has first-class innovative talents will have the advantages and leading power of scientific and technological innovation. It is necessary to select and use the best talents in the world, implement a more active policy of introducing innovative talents, and gather a group of leading talents who stand at the forefront of science and technology in the industry and have international vision and ability. The important conclusion of the Supreme Leader General Secretary profoundly reveals the relationship between talents and innovation, points out the breakthrough and focus of innovation-driven development strategy, and needs to fill the shortcomings of innovation-driven talents in China.
In March this year, the Central Committee issued the Opinions on Deepening the Reform of the System and Mechanism of Talent Development, proposing a number of measures to speed up the construction of a strong country with talents, to stimulate talents to innovate and create entrepreneurial vitality to the maximum extent, and to gather outstanding talents from all walks of life into the cause of the party and the state to provide strong talent support for realizing the goal of "two hundred years".
Since then, all parts of the country have also introduced relevant talent policies to reform the system and mechanism of talent development. A series of reform measures are put forward in the aspects of management system, introduction and use, training support, evaluation flow, incentive and guarantee, etc., so as to stimulate talent innovation and create entrepreneurial vitality to the maximum extent and provide strong talent support for innovation drive.
Innovation is an inexhaustible motive force for human development, and innovation is the soul of national progress. As long as we in Qi Xin work together to fill the shortcomings, implement the innovation-driven development strategy, build an innovative country, and unswervingly follow the road of strengthening the country through science and technology, we will surely realize the goal of China’s great national rejuvenation.
The five major tasks of "three to one, one reduction and one supplement" are the breakthrough of supply-side structural reform. Deepening reform in an all-round way is the fundamental driving force for promoting structural reform on the supply side.
"At present and in the future, it is the peak period for comprehensively deepening the reform and the crucial period for implementing the reform task. The task of grasping planning, overall planning and implementation is still arduous and arduous." Facing the future, General Secretary of the Supreme Leader put forward new tasks and requirements at the 27th meeting of the Central Deep Reform Group.
"Only when it is difficult is it more brave; Only when it is done, it is precious. " Entering the "Wanshan Circle" of the new normal of economic development, when encountering problems, we must show the courage of "opening roads on every mountain and bridging bridges when encountering water". Only by vigorously deepening reforms in an all-round way can we "decorate this mountain and look better today".
