"When can the reform of state-owned enterprises be' real'? When will the real estate tax be introduced and how will it be collected? When will cross-provincial medical treatment settlement benefit the whole people? How to implement air pollution control? "

The National People's Congress is about to open 20 17. Recently, many readers and netizens have raised such questions through our hot spot investigation system.

These problems are the "hard bones" that the reform faces when it enters the deep water area. They often affect the whole body, or affect employment, or related to the formulation of laws, or the urgent need for fiscal and taxation system reform. They are closely related to the development of real economy, the reform of land system and the prevention and control of financial risks.

Difficulty 1: Market-oriented reform

In recent years, the lagging progress of state-owned enterprise reform is undoubtedly a "hard bone" that can never be bypassed in comprehensively deepening reform. Many experts said that there are four main problems in state-owned enterprises at present: first, some state-owned enterprises have high asset-liability ratio and highly concentrated equity; Second, corporate governance is not standardized, the organization is bloated and the burden is heavy; Third, the layout of state-owned assets is unreasonable and specialization is not strong; Fourth, the administrative color is outstanding.

Nowadays, the reform of state-owned enterprises is no longer a simple micro-enterprise reform, but an important part of macro-structural reform. From the macro-financial point of view, whether the reform of state-owned enterprises can be smoothly promoted will affect the transmission of monetary policy, the marketization of interest rates and financial stability; From the perspective of industrial development, because state-owned enterprises monopolize upstream industrial sectors such as energy and telecommunications, their operational efficiency affects the cost, efficiency and export competitiveness of downstream industries such as service industry.

In addition to these tough "hard bones", Li Zuojun, deputy director of the Institute of Resources and Environmental Policy of the State Council Development Research Center, said that the arduousness of supply-side structural reform this year is also reflected in two aspects.

First of all, administrative means are mainly used to promote supply-side structural reform, which is relatively easy and easy to show results in the short term. The next step is to promote supply-side structural reform with more market-oriented means.

Since the central government put forward five tasks of "supply-side structural reform" and "de-capacity, de-inventory, de-leverage, cost reduction and short-board" at the end of 20 15, China's economic and social development has made great progress. However, supply-side structural reform, like all reforms, is also an arduous task. There will be twists and turns in the process, and many problems will be exposed. In 2065438+06, coal prices soared, housing prices soared in first-and second-tier cities, and leverage ratio rose instead of falling.

"Supply-side structural reform must be completed by market means and promoted by market mechanism." However, Li Zuojun also admitted that market means is more complicated than administrative means, and it will be more difficult to consider more issues.

Difficulty 2: Systematic reform

Li Zuojun also said that the supply-side structural reform implemented in China over the past year mainly relied on structural adjustment, but it did not promote the system reform that led to problems such as overcapacity and excessive inventory.

"These institutional problems are precisely the main problems and the problems that must be faced in deepening the structural reform of the supply side." Li Zuojun said.

Feng, a member of the 50-member Forum on New Supply Economics and a professor at the Department of Economics of the National School of Administration, believes that the supply-side structural reform involves five elements: labor, land, capital, innovation and system. Behind these five elements are a series of deep-seated institutional mechanisms.

In terms of capital elements, Feng said that there are some problems in China's financial institutions, such as overemphasizing large-scale and large-scale business and state ownership, while the number and scale of private, professional and formally regulated inclusive finance institutions are far from enough. This requires systematically promoting the reform of the financial system.

In terms of decentralization, Feng said that significant progress has been made in the early stage, but in the process of promotion, core issues such as information connectivity and consistent rules among governments at all levels in the country need to continue to deepen reform.

Difficulty 3: Pay attention to risk prevention.

"There is still a big difficulty in the current reform, that is, how to balance short-term interests and long-term interests and choose between long-term pain and short-term pain." Dong Ximiao, a visiting researcher at Chongyang Financial Research Institute of Renmin University of China, said.

Under the current macro-deleveraging background, many experts believe that Internet financial means can be used to solve the problem of difficult and expensive financing, especially for small and medium-sized enterprises. Dong Ximiao said that the development of Internet finance has been really rapid in recent years, which has alleviated the financing difficulties to some extent, but it is also easy to accumulate financial risks. Therefore, in the process of promoting reform, we should not only see the short-term promotion of internet finance, but also pay attention to long-term financial stability and be highly alert to the formation of financial risks and asset bubbles.

De-capacity, de-leverage and disposal of "zombie enterprises" also involve the game of long-term pain and short-term pain. De-capacity may affect GDP and fiscal revenue in some places, and de-leveraging will make some risks explicit. However, if these reforms are not promoted, not only the long-term goals will be unstable, but also the short-term effects will become worse and worse. There are more and more "zombie enterprises" and the debts are getting heavier and heavier, which will aggravate financial risks. Therefore, the Central Economic Work Conference held at the end of last year proposed that the prevention and control of financial risks should be placed in a more important position, determined to deal with a number of risk points, and strive to prevent and control financial risks.

As Lou Jiwei, chairman of the Social Security Fund Council and former Minister of Finance, said at the meeting of G20 finance ministers and central bank governors in July last year, "One of the main reasons why all tax system and real estate tax system reforms have not been launched so far is that they involve a lot of interest adjustments, but they still need to be pushed forward without hesitation. Only in this way can we fundamentally solve the problems of income distribution and inclusive growth. "