New This Time? Major Conference Tackles 3 Key Issues!
This meeting is a bit different from the previous ones.
Traditionally, the Politburo meetings have been quite routine, with not much breakthrough.
However, the 730 Politburo meeting has begun to delve deeper, starting to address the pain points of the public, such as the disconnection between promoting consumption and increasing income, formalism, and involution, among others.
1.
For the first time, it was proposed that "macro policies should continue to exert effort and be more powerful."
The original text of the official statement: "Macro policies should continue to exert effort and be more powerful"; "It is necessary to strengthen counter-cyclical adjustments," "Increase the intensity of macroeconomic regulation."
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— This implies that interest rate cuts, reserve requirement ratio reductions, and accelerated issuance of government bonds are all expected in the second half of the year, with government-led strong stimulus policies remaining the main theme.
2.
For the first time, it was proposed to "provide strong and effective support for the development of gazelle and unicorn enterprises."
The original text of the official statement: To provide strong and effective support for the development of gazelle and unicorn enterprises.
— Previously, at an entrepreneur symposium, the question was raised, "What is the main reason for the decline in the number of new unicorn enterprises?"
This time, the targets of support were clearly defined for the first time.
3.
In terms of risk prevention and resolution, the focus is mainly on real estate, local debt, and the capital market, but this time, the risks of small and medium financial institutions were not mentioned.
4.
For the first time, "promoting consumption" and "increasing residents' income" were combined.
The original text of the official statement: The focus of economic policy should shift more towards benefiting the people's livelihood and promoting consumption, and it should increase residents' income through multiple channels.
This is the first time that promoting consumption and increasing residents' income have been combined.
Previously, when promoting consumption, it was either about building consumption scenarios or directly replacing the old with the new, which was a blunt stimulus to consumption.
When it came to increasing income, it was all placed under the category of "ensuring people's livelihood."
In short, previously, promoting consumption and increasing income were disconnected, which is why people joked that they thought we still had money, and we thought they still had tools.
We have also expressed our views in articles many times that the current problem is not that people do not want to consume, nor that there are no consumption channels, but that there is no money to consume.
This time, finally, promoting consumption and increasing income have been combined.
We hope that next time, "increasing residents' income" will be placed before "promoting consumption."
In addition, this time, "service consumption" was also emphasized, "Taking service consumption as an important means to expand and upgrade consumption."
5.
For the first time, "anti-involution" was proposed.
The original text of the official statement: Strengthen industry self-discipline to prevent "involution-style" vicious competition.
Strengthen the market's survival of the fittest mechanism and smooth the exit channels for backward and inefficient production capacity.
Due to the large population in our country, involution has entangled every enterprise and individual, severely breaking the "balance."
Involution has made enterprises and employees deeply resentful.
After the slowdown in exports, every enterprise and individual is facing a critical moment of survival, and involution has become even more serious.
The question is, how to counter involution?
It is useless to rely solely on orders; a series of institutional guarantees and the effective implementation of labor laws are needed.
6.
For the first time, opposition to "formalism" was proposed.
The original text of the official statement: Formalism and bureaucracy are chronic diseases that must be vigorously corrected.
The grassroots level is the "last mile" for the implementation of the decisions and arrangements of the Central Committee of the Party, and it should not be bound by formalism and bureaucracy.
Formalism and showmanship are deeply resented by everyone, and the key is that some methods are also very lowly, which has seriously insulted the intelligence of the people.
This meeting can be regarded as a crackdown on undesirable phenomena.
The premise of solving problems is to face the problems, and the significant importance of this meeting is that it has faced some issues that the public cares about.