On April 14, Li Keqiang, Premier of the State Council of the People's Republic of China, People's Republic of China (PRC) presided over the the State Council executive meeting, demanding the implementation of the policies and measures to support enterprises introduced this year to help enterprises tide over the difficulties; Determined to intensify the transformation of the old city, promote the expansion of domestic demand and benefit the people.
The meeting pointed out that on the basis of expanding the implementation of effective policies in the early stage, measures should be taken to increase the implementation of proactive fiscal policies and issue special local government bonds of a certain scale in advance according to procedures. Study and further strengthen financial support for the real economy, especially small and medium-sized enterprises. Help manufacturing and service enterprises to ease the cost pressure such as rent and employment. Strengthen the protection of vulnerable groups.
Promoting the transformation of old urban communities is an important measure to improve residents' living conditions and expand domestic demand. The meeting pointed out that 39,000 old residential areas in cities are planned to be renovated this year, involving nearly 7 million residents, twice as much as last year, with the focus on residential areas completed before the end of 2000.
Expand fiscal policy and intensify work.
Since the beginning of this year, China has timely issued a series of policies and measures to support epidemic prevention and control, supply security, extricating enterprises from difficulties and resuming production.
In terms of proactive fiscal policy, only tax reduction and fee reduction measures have been introduced, such as reducing the value-added tax of small and micro enterprises and individual industrial and commercial households, increasing the export tax rebate rate of some products, extending the carry-over period of losses of enterprises such as transportation, catering and accommodation, reducing the social security fee of enterprises in stages, delaying the payment of housing provident fund, exempting toll road tolls, and reducing the price of electricity and gas used by enterprises. Coupled with last year's tax reduction and fee reduction policy, these can reduce the burden on enterprises10.6 trillion yuan.
This year, local government special bonds were issued 1.29 trillion yuan in advance, and the early issuance of bonds is drawing to a close, and the use of funds is progressing rapidly.
In terms of financial policy, 3.55 trillion yuan of low-cost funds were provided to financial institutions through three RRR cuts and refinancing, which were used to issue low-interest loans to enterprises. In addition, by the end of March, about 880 billion yuan of corporate loan principal and interest had been postponed.
At present, the international epidemic continues to spread, the downside risk of the world economy intensifies, the pressure on China to prevent the import of epidemic increases, the orders for external demand are affected, and the difficulties faced by China's economic development increase.
The executive meeting of the State Council clearly pointed out that the next step is to expand the implementation of effective policies in the early stage, take multiple measures to increase the implementation of active fiscal policies, and pay close attention to issuing local government special bonds of a certain scale in advance according to procedures. Study and further strengthen financial support for the real economy, especially small and medium-sized enterprises. Help manufacturing and service enterprises to ease the cost pressure such as rent and employment. Strengthen the protection of vulnerable groups.
Fiscal policy plays an important role in hedging the negative impact of the epidemic and promoting stable economic growth. On March 27th, the the Political Bureau of the Communist Party of China (CPC) Central Committee meeting put forward research and put forward a package of macro-policy measures to respond positively. Among them, there are many active fiscal policies, and the policy combination of "appropriately increasing the fiscal deficit ratio, issuing special government bonds and increasing the scale of local government special bonds" is given. In addition, in terms of expanding domestic demand, in addition to expanding household consumption, it is also the first time to propose a reasonable increase in public consumption.
On April 10, Lou Jiwei, director of Chinese People's Political Consultative Conference Foreign Affairs Committee and former Minister of Finance, said at a seminar that the first step to moderately expand the deficit should be to solve the shortage of fiscal revenue. In the first and second quarters, the fiscal revenue is under great pressure and needs to be supplemented to meet the expenditure demand; Secondly, subsidies, especially for small and medium-sized enterprises that are greatly affected by the epidemic, such as foreign trade and general service industries, are aimed at ensuring employment as much as possible.
Zhao Quanhou, director of the Financial Research Center of the Chinese Academy of Fiscal Science, told the 2 1 Century Business Herald that the future active fiscal policy should focus on expanding domestic demand. On the one hand, it is necessary to expand investment, promote related industries and raise social investment expectations; On the other hand, local governments have now introduced many consumer voucher policies to encourage residents to spend. Reasonable increase in public consumption, mainly through subsidies, guidance, convenience and other ways to encourage people's livelihood consumption, such as consumer vouchers, home appliance subsidy vouchers, education vouchers, retraining vouchers and so on. , all belong to this category.
A great grasp of expanding domestic demand: the transformation of old urban areas
The meeting pointed out that promoting the transformation of old urban communities is an important measure to improve residents' living conditions and expand domestic demand. This year, it is planned to renovate 39,000 old residential areas in cities and towns, involving nearly 7 million residents, double that of last year, with the focus on residential areas completed before the end of 2000. All localities should be responsible for overall planning, focus on improving community facilities and municipal infrastructure according to the wishes of residents, and improve the level of public services such as community pension, child care and medical care. Establish a mechanism for the government, residents and social forces to share the transformation funds reasonably, subsidize the central government, borrow special funds from local governments, and encourage social capital to participate in the transformation operation.
The urbanization rate of China is close to 60%, and urban renewal such as the transformation of old residential areas is increasingly prominent. In 2020, the scale of local special debts will be increased, and the transformation of old urban communities will be included in the scope of use, and local governments are taking active actions.
2 1 Century Business Herald The reporter noted that recently, many places have successively introduced relevant policies. For example, the three departments of Hunan Province jointly issued a document, calling for vigorously implementing the transformation of old urban communities, conducting a thorough investigation and compiling a project library. In order to support the transformation of old urban communities, Qingdao recently clarified the relevant housing provident fund withdrawal policy.
According to the current classification standards, the transformation of old urban residential areas includes the treatment of illegal buildings, house repair, water and electricity infrastructure transformation, the improvement of functions and convenience of life, and the transformation of rich public services such as pension, child care and medical care.
The renovation of old urban communities in Beijing in recent years includes cleaning up illegal buildings, transforming distribution network equipment, installing elevators, installing fitness facilities and installing face recognition systems.
Chou Baoxing, counselor of the State Council and chairman of China Urban Science Research Association, said that through the comprehensive renovation of old residential areas, on the one hand, it can fill the shortage of service facilities such as kindergartens and small supermarkets and eliminate obstacles to expanding residents' consumption; On the other hand, we can also develop new consumption patterns such as silver hair consumption, children's consumption, green development, energy conservation and emission reduction.
"Different communities have different transformation contents. If it is to replace water pipes, power grids and windows, these projects often lack cash flow. If community service centers are added in the community to supplement services such as child care, medical care, culture and entertainment, and universities for the elderly, there are both public welfare components and paid services. These community service centers have certain investment and business opportunities because they are close to community residents. For example, some communities add rehabilitation centers, which can be connected with large hospitals through nurses and doctors, "Zhao Quanhou said.
The cash flow of the project itself is good, which is one of the rigid requirements of the local special debt for the project. There are many sources of funds for the renovation of old residential areas, including financial funds, residential owners, public utilities and social investors.
Zhao Quanhou said that this year, the use of local special bonds has been extended to the renovation of old urban communities. For projects with cash flow, special bonds can be used as government capital to incite more social investment through cooperation with social capital.
In addition to financial funds, the transformation of old residential areas has to expand other sources of funds. For example, on April 10, the documents of three departments in Hunan Province promoting the renovation of old residential areas clearly pointed out that enterprises such as elevators, express delivery, logistics, commerce and trade, parking facilities and property services encouraged investment to participate in the "old renovation" by obtaining franchise rights, advertising revenue in public places, and convenience services.