Release a major signal!, The latest deployment by the central government on promoting the development of the private economy

To promote the private economy, the central government has made significant deployments.

On July 19th, 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 were released to the public, proposing a series of major measures and new expressions on the positioning of the private economy. Some new ideas and measures have sent important signals.

New formulation

"Private economy is the new force to promote Chinese path to modernization"

"The private economy is a new force to promote Chinese path to modernization, an important foundation for high-quality development, and an important force to promote China's comprehensive building into a socialist modernization power and achieve the second century goal." The opening of the Opinions made an important statement on the positioning of the private economy.

Among them, "private economy is the new force to promote Chinese path to modernization" is a new formulation.

"This new formulation means that the importance of the private economy has been further enhanced." Zhu Keli, founding president of the National Research Institute of New Economics and chief researcher of the New Economy Think Tank, told reporters from China Singapore Finance and Economics that private enterprises play an important role in promoting economic development, increasing employment, promoting innovation, etc. The development and expansion of the private economy is of great significance to China's strategic goals of promoting Chinese path to modernization, achieving high-quality development, and building a modern power in an all-round way.

Data shows that China's private economy contributes over 50% of tax revenue, over 60% of GDP, over 70% of technological innovation achievements, over 80% of urban labor employment, and over 90% of the number of enterprises.

At present, the vitality of the development of the private economy needs to be further stimulated. Data from the National Bureau of Statistics show that private investment fell by 0.2 in the first half of the year. Therefore, the release of this blockbuster document can be described as "timely rain", which is conducive to boosting confidence in the development of the private economy and stabilizing the expectations of private enterprises and private entrepreneurs.

new measures

Responding to the core concerns of private enterprises

This heavyweight document proposes 28 specific measures in six aspects, including continuously optimizing the development environment of the private economy, increasing policy support for the private economy, strengthening legal protection for the development of the private economy, focusing on promoting high-quality development of the private economy, promoting the healthy growth of private economy personnel, and continuously creating a social atmosphere that cares about and promotes the development and growth of the private economy.

Among them, there are a series of timely and valuable measures to respond to the concerns of enterprises.

In response to the concerns of private enterprises about "difficulty in obtaining accounts", the "Opinions" propose to improve the government's credit performance mechanism, establish and improve the record and punishment system for government dishonesty, and incorporate dishonest information such as breach of contract, overdue payments, and refusal to comply with judicial judgments from government agencies and institutions into the national credit information sharing platform.

Zhu Keli stated that making the dishonest behavior of government agencies and public institutions public and transparent, allowing the whole society to grasp their credit status, is conducive to strengthening public supervision, thereby enhancing trust and confidence in the public sector, and creating a market-oriented and legal environment to promote the development and growth of the private economy.

In response to concerns about difficulties and high financing costs, the Opinion proposes to improve the credit rating and evaluation system for small and medium-sized enterprises and individual businesses, strengthen the collection of credit information related to enterprises, and promote service models such as "Xinyi Loan". Support eligible private small and medium-sized enterprises to raise funds in the bond market, encourage eligible private enterprises to issue technology innovation corporate bonds, and promote the special support plan for private enterprise bond financing to expand coverage and enhance credit enhancement.

In response to concerns about fair competition, the Opinion proposes to strengthen the fundamental position of competition policy, improve the framework of fair competition system and policy implementation mechanism, and adhere to the principle of treating all types of enterprises equally and equally. Strengthen antitrust enforcement to prevent the abuse of administrative power and eliminate restrictions on competition. Continuously breaking down market access barriers. Each region and department shall not set or indirectly set access barriers in the form of filing, registration, annual inspection, recognition, certification, designation, or requiring the establishment of branch offices.

In response to the concern of "visible and intangible" policies, the Opinion proposes to establish a support policy "no application, no enjoyment" mechanism for private small and medium-sized enterprises and individual businesses, promote the notification commitment system, and eliminate the need for duplicate provision of materials that relevant departments can extract through public data platforms.

In response to concerns about policy discontinuity and instability, the Opinion proposes to comply with the procedures for adjusting enterprise policies in accordance with the law and regulations, and to set a reasonable transition period based on actual circumstances. Strengthen the construction of regulatory standardization and standardization, publicly disclose regulatory standards and rules in accordance with the law, and enhance the stability and predictability of regulatory systems and policies. Improve regulatory fairness, standardization, and simplicity, eliminate selective law enforcement, and allow enterprises to self prove their innocence through supervision.

Zhu Keli believes that this will ensure the uniformity and rationality of regulation, avoid inconsistent regulatory standards between different departments, bring unnecessary troubles to enterprises, reduce the burden on enterprises, avoid excessive regulation and cumbersome procedures, and help the private economy to take action lightly.

In response to concerns about equal legal protection, the Opinion proposes to protect the property rights of private enterprises and the rights and interests of entrepreneurs in accordance with the law. Prevent and correct the use of administrative or criminal means to intervene in economic disputes, as well as local protectionism in law enforcement and justice. Further standardize mandatory measures related to property rights, avoid exceeding authority, scope, amount, and time limit to seal, seize, and freeze property.

"The policy measures to promote the private economy are rapid, precise, and effective," said Yang Chang, Chief Analyst of Zhongtai Securities Research Institute. In particular, the statements such as "regulating and guiding the healthy development of private capital in accordance with the law", "leaders at all levels should openly and sincerely engage with private entrepreneurs, take the initiative and provide services", and "correctly view the wealth obtained by private economic personnel through legal and compliant operations" respond to the concerns of the private economy, which is conducive to creating a better policy environment for the restoration of confidence in the private economy.

In Zhu Keli's view, this heavyweight document not only strengthens the importance and support for the private economy, but also provides more powerful policy guarantees for the development of the private economy in the new era through a series of normalized and legal measures, further stabilizing expectations, boosting confidence, enhancing the sense of security and gain in the development of the private economy, and promoting the growth, optimization, and strength of the private economy.