Injecting "booster" and "1+N" supporting measures into the private economy will lead to policies | economic development | economy
Xinhua News Agency, Beijing, July 21. "Economic Information Daily" published an article on July 21, "Injecting" Boosters "into the Private Economy," 1 N "Supporting Measures Will Be Out." The article stated that the "Opinions of the Central Committee of the Communist Party of China and the State Council on Promoting the Development and Growth of the Private Economy" was recently released, proposing 31 measures in eight areas to optimize the development environment of the private economy and boost the expected confidence of the private economy.
At the press conference of the State Council Information Office held on the 20th, departments such as the National Development and Reform Commission, the Ministry of Industry and Information Technology, and the All China Federation of Industry and Commerce elaborated on relevant policies and measures. The reporter learned that in the next step, relevant departments will study and introduce the "1+N" supporting measures of the Opinion, including several recent measures to promote the development of the private economy and policy documents to promote private investment, which are expected to be implemented in the near future. Through multiple measures, we will strengthen policy support for private enterprises and further stimulate the vitality of private economic development.
——Breaking down unreasonable restrictions and implicit barriers in a favorable environment
From "continuously breaking down market access barriers" and "comprehensively implementing fair competition policy systems" to "improving social credit incentive and constraint mechanisms" and "improving market-oriented restructuring mechanisms", the "Opinions" issued this time propose targeted measures to continuously optimize the development environment of the private economy.
The person in charge of the National Development and Reform Commission stated in response to questions from reporters that the private economy has played a positive role in stabilizing growth, promoting innovation, increasing employment, and improving people's livelihoods for a long time, and has become an important force in promoting sustained and healthy economic development. For example, in terms of taxation, from 2012 to 2021, the proportion of private enterprises increased from 48% to 59.6%. However, over a period of time, the development environment of the private economy has undergone some changes, and many private enterprises are facing some problems and difficulties.
"Many private enterprises have reported that some places have set unreasonable restrictions and implicit barriers on market access, project bidding, and other aspects of private enterprises. Private enterprises are subjected to unequal treatment, which not only affects the local business environment and the construction of a unified large market, but also affects the expansion of private investment and hinders the healthy development of the private economy." Li Chunlin, Deputy Director of the National Development and Reform Commission, said at a press conference.
In response to this, the Opinion proposes that "all regions and departments shall not set or indirectly set access barriers in the form of filing, registration, annual inspection, recognition, certification, or designated requirements to establish branches", "strengthen anti-monopoly law enforcement, and shall not grant franchise rights to operators without fair competition", and "establish a system for recording and punishing government dishonesty".
"Focusing on promoting the development and growth of the private economy in all aspects, the" Opinions "directly address various prominent problems that hinder the development of the private economy and propose practical and effective solutions." Wang Qing, Chief Macro Analyst of Dongfang Jincheng, said that improving the government's integrity and compliance mechanism reflects the determination of government departments to "turn the blade inward" and solve practical problems in the process of optimizing the development environment of the private economy.
Wang Qing stated that the issuance of this "Opinions" means that a long-term mechanism will be established to continuously optimize the development environment of the private economy in the future. This is an important lever to comprehensively boost market confidence, effectively reduce market access restrictions for private enterprises, break various "rolling shutter doors," "glass doors," and "revolving doors," create a fair competitive market environment, and allow the market to play a more decisive role in resource allocation.
——Strong policy "1+N" supporting measures will be implemented in the near future
While continuously optimizing the development environment of the private economy, the Opinion also proposes to increase policy support for the private economy, clarifying the need to "accurately formulate and implement various support policies," "strengthen policy coordination," "timely respond to concerns and interest demands, and effectively solve practical difficulties.".
The difficulty and high cost of financing have always been a constraint on the development of private enterprises. Currently, various parties are continuously improving the financing environment for enterprises, promoting the incremental expansion of inclusive small and micro enterprise loans, and promoting the listing and financing of small and medium-sized enterprises. According to the data released at the meeting, as of the end of June 2023, the balance of inclusive small and micro loans was 27.7 trillion yuan, a year-on-year increase of 26.1%. From January to June, there were 102 newly listed small and medium-sized enterprises, accounting for 59% of the newly listed A-share companies. As of the end of June, the National Small and Medium sized Enterprise Development Fund has established a total of 31 sub funds, with a total fundraising scale of nearly 90 billion yuan, and completed more than 1100 investment projects.
In response to the next step of development, the Opinion proposes to establish a market-oriented financing risk sharing mechanism that involves multiple parties such as banks, insurance, guarantees, and securities firms. Support eligible private enterprises to go public for financing and refinancing.
Xu Xiaolan, Deputy Minister of the Ministry of Industry and Information Technology, stated that the Ministry of Industry and Information Technology will work with relevant departments to organize a "one chain, one policy, one batch" financing promotion action for small and medium-sized enterprises, do a good job in cultivating specialized, refined, and new small and medium-sized enterprises for listing, implement financing guarantee, fee reduction, and subsidy policies for small and medium-sized enterprises, and continue to increase the promotion of financing for small and medium-sized enterprises. At the same time, the Opinion also focuses on improving the mechanism for preventing and clearing arrears on a regular basis, and establishing a regular docking mechanism for clearing arrears with systems such as auditing, supervision, and inspection. Improve the direct and fast sharing mechanism for supporting policies, establish a system for "enjoying policies without application", and strengthen policy communication and expected guidance.
"Regarding the implementation and implementation of the 'Opinions', the National Development and Reform Commission will work with relevant parties to launch relevant supporting policy measures in the near future. Firstly, several recent measures will be launched to promote the development of the private economy. Secondly, policy documents to promote private investment will be formulated and issued, focusing on key areas, improving the factor guarantee mechanism, and fully mobilizing the enthusiasm of private investment." Li Chunlin said that the above two documents will be released soon. As a supporting measure of the "1+N" of the "Opinions", through the centralized implementation of policy measures, multiple measures are taken simultaneously, and multiple approaches are taken together to effectively promote the implementation and effectiveness of the "Opinions".
——Promoting Innovation and Enhancing Core Competitiveness of Enterprises
Enterprises are the main body of innovation. The Opinion proposes to focus on promoting the high-quality development of the private economy, and clarifies multiple specific measures such as "supporting the improvement of scientific and technological innovation capabilities", "cultivating a group of key private technology leading enterprises, specialized and innovative small and medium-sized enterprises, and characteristic industrial clusters of small and medium-sized enterprises with strong innovation capabilities".
"About 99% of enterprises are small and medium-sized enterprises, which are the driving force of innovation. Specialized, refined, and innovative enterprises are the vanguard of innovation, with strong innovation capabilities, vitality, broad fields, and deep expertise." Xu Xiaolan said.
In recent years, China has continuously optimized the innovation environment for small and medium-sized enterprises, carried out special actions to empower small and medium-sized enterprises with digitization, technology achievements, and quality standards and brand values, and enhanced their core competitiveness. Establish a sound gradient cultivation system for high-quality small and medium-sized enterprises, and stimulate the emergence of more specialized, refined, and innovative small and medium-sized enterprises.
The data released at the meeting shows that as of now, China has cultivated more than 12000 specialized, refined, and innovative "little giant" enterprises in five batches, driving the cultivation of nearly 90000 specialized, refined, and innovative small and medium-sized enterprises in local areas. In the first half of this year, the operating revenue and profit growth of specialized, refined, and innovative enterprises were higher than those of industrial enterprises above designated size.
The reporter learned that more supportive measures will further promote the innovative development of small and medium-sized enterprises. Xu Xiaolan stated that the Ministry of Industry and Information Technology is urgently studying and formulating several measures to promote the high-quality development of specialized, refined, and new small and medium-sized enterprises, continuously increasing support for these enterprises, expanding the group of high-quality small and medium-sized enterprises, and polishing the golden signboard of specialized, refined, and new enterprises. By means of unveiling and publishing rankings, we aim to build a collaborative innovation platform between large enterprises, universities, and small and micro enterprises, achieving deep integration between supply and demand, technology and market.
"Improving internal skills is the key to a stable and far-reaching enterprise." An Lijia, Vice Chairman of the All China Federation of Industry and Commerce, stated that we will continue to carry out innovative and growth oriented private enterprise empowerment actions and the creation of private enterprise science and technology innovation bases, promote the construction of key industrial chain private enterprise databases, deepen the digital transformation of private enterprises, and take multiple measures to enhance their innovation capabilities.
Zhou Hongyi, a member of the National Committee of the Chinese People's Political Consultative Conference, stated that in order to stimulate the vitality of the private economy, it is necessary to continuously stimulate various social innovation elements to gather in the field of innovation. A series of measures will effectively help private enterprises boost confidence and enhance vitality. With the precise and direct implementation of more favorable policies, private enterprises will increase their determination and motivation to continue their development.
