Zhang Junruo: boosting the confidence of market players requires recovery of demand, so that market entities have orders, income, and money to earn

Text/Fu Le

2022 China Wealth Forum was held in Qingdao from July 30-31, 2022. Zhang Jun, former deputy director of the Development Research Center of the State Council, attended the meeting and gave a speech.

In his speech, Zhang Junpian stated that boosting the confidence of market players needs to be combined with lengths and symptoms. While seeing the economy of remarkable economic restoration, the current economic operation is facing the lack of confidence in market players and needs to pay great attention.

According to the investigation of the Wanjia enterprise, the company's development confidence index was only 46.1%in June this year, which was lower than the level of the Rongku line for three consecutive months. The survey also shows that the proportion of companies that increased investment plans in the future will only be 26%, a decrease of 12.2 percentage points from 38.2%at the end of last year, and the normal level of many years will generally not be less than 40%.

"What's more vigilant is that many companies not only adjusted or delayed investment expansion plans, but also chose an attitude of watching, waiting, lying flat, or even bankruptcy." Zhang Junpian said.

He pointed out that corporate confidence and insufficient investment will not only affect short -term demand, but also affect medium and long -term development stamina. In particular, corporate expectations and confidence have the characteristics of cycle strengthening and self -realization. Regardless of whether the actual situation is good or bad, as long as the general expectations are not good, the actual situation may become worse. On the contrary, if it is generally expected to be optimistic, the actual situation may be better. In addition, lack of confidence in market players may also become an important cause of economic and social risks.

"The recent occurrence of village banks and the problem of disconnection of loans, etc., have also been related to the lack of confidence in market players. Therefore, confidence is more important than gold, and steady growth must first stabilize confidence." He said.

So, how to solve the lack of confidence in market players? Zhang Jun expanded five suggestions.

First of all, we must accurately and efficiently coordinate the prevention and control of the epidemic and economic and social development with a scientific attitude. Economic fluctuations in the first half of the year mainly affect the epidemic. What is the economic situation in the second half of the year? The biggest uncertainty is also the epidemic. Therefore, the scientific and accurate epidemic prevention and control in the second half of the year is still the key.

Secondly, the policy of expanding domestic demand must continue to work hard. "To boost the confidence of market players, not only must we help market entities through various rescue measures, but also need to promote demand recovery, so that market entities have orders, income, and money." Zhang Junpian said.

Third, we must focus on improving the transparency and expected of the policy. He pointed out that the adjustment of the policy needs to be fully considered the impact on the enterprise, and the promulgation of the policy must have a certain amount of advance, thereby leaving a necessary reasonable transition period for the adjustment of relevant enterprises. If a short -term change policy is required for special reasons, then it is necessary to consider compensation for enterprises that are purely due to the changes in policy changes.

Furthermore, optimize the business environment further. He said that there is still a lot of room for optimizing the business environment to further go, especially some deeper issues need to break through. For example, companies reflected more prominently, and there are still serious issues of ownership discrimination in some areas. Some places have not fundamentally solved problems such as "new officials ignore the old accounts" and arrears of corporate accounts. These issues have long -term existence. It is necessary to strengthen theoretical innovation and consolidate the system of institutional foundation, and crack through deepening reforms.

Finally, we must further emancipate the mind and promote the reform and opening up of critical areas to achieve more and more breakthrough progress. Reform and opening up can be said to be the greatest and fundamental factor that affects the confidence of the market. On July 28th, the Central Political Bureau meeting was specifically put forward that it is necessary to use reform and opening up as the driving force for economic development, and put forward requirements from the aspects of state -owned enterprise reform, platform economic improvement, and deepening opening up. Essence

Edit: Meng Junlian

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