Towards the end of the year, the construction of major projects sounded the "bugle" of the year's goal. Following the emphasis on "accelerating the construction of major projects" at the executive meeting of the State Council on November 22, the National Development and Reform Commission has also held consecutive meetings recently to make further arrangements for the Fund to support the construction of major projects and for the supervision of "looking back" policies and measures to stabilize the economy. The meeting required all localities to accelerate the implementation of the fund and a series of policies and measures to stabilize the economy. Policy based development financial instruments have been signed to launch projects to accelerate the commencement of construction, so as to form more physical work as soon as possible.
This year, the downward pressure on China's economy has increased due to multiple factors beyond expectations. In particular, since the fourth quarter, the external demand has slowed down, the domestic effective demand is insufficient and the epidemic has occurred frequently in many places, which has had a great impact on the economic recovery and growth. In this context, it is necessary to give full play to the policy effect of government funds and work together to promote the commencement of major projects. It is also a necessary measure to stabilize the macroeconomic market and an internal requirement to keep the economy operating within a reasonable range.
According to statistics, in the first 10 months of this year, the National Development and Reform Commission approved 97 fixed asset investment projects with a total investment of 1423.3 billion yuan, mainly in the energy, transportation, water conservancy and other industries, a substantial increase over the same period last year. In terms of financial support, the issuance of new special bonds by local governments has now exceeded 4 trillion yuan, a record high. Thanks to the strong support of government funds, the construction of major projects in various regions has been accelerated, which has played a positive role in expanding investment, promoting employment and stabilizing the economy.
In the short term, taking the construction of major projects as a starting point, further expanding effective investment is an important path to expand domestic demand and promote stable economic growth. In the long run, grasping the "bull nose" of major project construction is also the key to optimizing the supply structure and promoting high-quality economic and social development. What needs to be emphasized is that the economic operation in the fourth quarter is very important to the economic impact of the whole year. Now it is the key time to consolidate the basis for economic stability. On the basis of efficient overall planning of epidemic prevention and control and economic and social development, we must strengthen the implementation of various measures to stabilize the economy, actively release the comprehensive effectiveness of policies, and work together to maintain the trend of sustained economic recovery and development. To this end, we should give full play to the role of the coordination mechanism for promoting effective investment in important projects, make good use of policy based development financial instruments, accelerate the progress of project construction and fund payment, strive to form more physical work, and consolidate the foundation for economic recovery and development.
From the current domestic consumption and infrastructure construction market performance, the economy in the fourth quarter was still dominated by infrastructure and manufacturing investment, playing a key role in stabilizing growth. Next, on the one hand, we should continue to promote the implementation of a package of policies and follow-up policies to stabilize the economy, make precise planning for existing projects, and strengthen the guarantee of project elements on the basis of making good use of policy based development financial instruments, so as to ensure that major projects can start, build and take effect early; On the other hand, it is necessary to make project reserves in advance, improve the preliminary work preparation, respond to changes in domestic and overseas markets with a certain degree of major project investment, and effectively promote the steady recovery of employment and domestic demand. (Economic Daily Jin Guanping)
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Post time: Dec-13-2022
