In 2016, these economic hot words are closely related to you and me.
Xinhua News Agency, Shanghai, December 14th Question: In 2016, these economic hot words are closely related to you and me.
Xinhua News Agency reporters He Xinrong and Sang Tong
The coming year of 2016 is a crucial year for China to promote supply-side structural reform, and it is also a year of changing global financial markets. From the reduction of social security rate at the beginning of the year, the dispute over Vanke’s equity in the middle of the year, to the fluctuation of RMB exchange rate. These economic hot words are closely related to your life and mine.
Hot word one: "Slow down and stabilize"
To describe this year’s macro-economy in one sentence, the most appropriate one is undoubtedly "slowing down and stabilizing". China’s GDP growth rate remained at 6.7% in the first three quarters, and the PMI index in November rose to the highest point in two years, showing the trend of "stabilizing and improving" in China.
Macroeconomic figures seem to be far away from our lives, but in fact, their influence is everywhere. Benefiting from the economic stabilization, China created 10.67 million new jobs in the first three quarters, fulfilling the expected target for the whole year ahead of schedule. In September, the urban unemployment rate was lower than 5% for the first time in nearly three years.
Hot word 2: tax reduction and fee reduction "combination boxing"
Since the beginning of this year, Beijing, Shanghai, Guangdong, Zhejiang and other places have successively reduced social security rates, and it is estimated that the burden will be reduced by more than 100 billion yuan for enterprises nationwide. Since May this year, four industries, including real estate and finance, have been included in the "camp reform" pilot, making the tax reduction this year more than 470 billion yuan.
The "combination boxing" effect of tax reduction and fee reduction is gradually appearing in the financial statements of enterprises. In the first 10 months of this year, the profits of China’s industrial enterprises increased by 8.6% year-on-year, and the growth rate reached a new high since August 2014. The so-called "big rivers are full of water and small rivers", only when corporate profits improve can employees’ pockets swell and consumption flourish, forming a positive cycle of economic operation.
Hot word 3: "Iron fist to capacity"
By the end of October this year, the steel industry had completed the capacity reduction target of 45 million tons ahead of schedule, and the annual target of 250 million tons of coal is also expected to be completed ahead of schedule. As the central task of supply-side structural reform, this year’s de-capacity work is drastic.
De-capacity is related to the progress of economic restructuring and the rice bowls of millions of families. On the one hand, the government solves the problem of employee placement by introducing a flexible "supporting policy" and taking measures such as internal placement and job transfer. On the other hand, the growth of the new economy, including the sharing economy, provides a way out for the transformation of employees, and also provides a certain cushion for de-capacity. Only when all sectors of society act together can we reduce the pain of de-capacity.
Hot word 4: "new regulations" for online car.
With the introduction of new regulations on network car by the Ministry of Communications, Beijing, Shanghai and other places have successively published drafts of local rules for comments. From household registration to vehicle types, the conditions are strict and the threshold is high, which has aroused great concern in society.
With the introduction of new regulations and rules, the price of online car in some cities has increased by about 20%, which is almost the same as that of taxis. This means that the online car market will gradually shift from price competition to service competition. At the same time, it also tells us that urban travel mainly depends on public transportation. More bus lanes and denser rail transit networks are the key to solving the travel difficulties.
Hot Word 5: Standardize the development of Internet finance
This year’s government work report proposes to "standardize the development of Internet finance".
In the case of "standardization", the regulatory authorities have carried out special rectification for Internet finance. On the basis of preliminary investigation, the clean-up and rectification of internet financial risks has begun. In the future, those acts of illegal fund-raising in the name of financial innovation will face the blade of the sword of supervision.
Hot word 6: "Vanke equity dispute"
On the surface, the dispute over Vanke’s equity in the middle of this year is a conflict of interest between the major shareholder and the management team. In fact, the governance of listed companies, the protection of the interests of small and medium-sized shareholders and the source of leveraged funds are the deep-seated problems behind the incident. So that at the end of the year, the regulatory authorities rarely shouted at the placard behavior, which attracted the attention of all parties.
At present, the number of A-share listed companies has exceeded 3,000. It not only formed a multi-level market of main board, small and medium-sized board and growth enterprise market, but also completed the historic leap of opening Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect. However, the "Vanke incident" shows that there is still a gap between A shares and mature markets. On the road of marketization, rule of law and internationalization, the capital market has a long way to go.
Hot word seven: RMB "into the basket"
Since October 1st this year, the RMB has been formally included in the SDR (Special Drawing Rights) currency basket, becoming one of the official reserve currencies of the International Monetary Fund, taking a solid step on the road to internationalization.
With the improvement of the international status of RMB, more and more countries will recognize RMB and be willing to accept RMB, which will make it more convenient for ordinary people to travel and shop abroad, save the trouble of exchanging foreign exchange and greatly reduce the exchange cost.
Although the exchange rate of RMB against the US dollar depreciated by 1.69% in November, the exchange rate of RMB against a basket of currencies continued to appreciate slightly. Investors don’t have to worry too much about RMB depreciation, and residents don’t have to panic about foreign exchange.
Hot word eight: commodity "roller coaster"
In the first half of the year, steel prices "skyrocketed", and in the second half of the year, coal coke "relayed", and some commodities in the black industrial chain rose by more than 100% this year. Just as investors were chasing up, the "Double Eleven" night market plunged overnight, and 40% of many people’s profits disappeared within an hour.
The ups and downs of commodity markets not only affect investors’ income, but also affect economic stability and people’s livelihood security. In particular, acts such as "frying garlic" are ready to move in the near future, and agricultural products may become the focus of the commodity market next year. It is necessary for the regulatory authorities to take timely measures to investigate and deal with price violations such as collusion and bid-up.
Hot word nine: the regulation and upgrading of the property market
Increase the down payment ratio and prohibit buying the third house … … Following the launch of a new round of property market regulation in more than 20 hot cities at the end of September, the "upgraded version" of the new property market policy has been launched again in many places recently.
"Study and establish a long-term mechanism for the stable and healthy development of real estate in line with national conditions and market rules", and the recent Politburo meeting of the Chinese Communist Party sent a clear signal. While curbing the asset bubble, China will make comprehensive efforts in various aspects in the future to guide the property market to stabilize expectations.
Hot Word 10: "Top Design" of Property Rights Protection
Near the end of the year, the Opinions of the Central Committee of the Communist Party of China and the State Council on Perfecting the Property Rights Protection System and Protecting Property Rights according to Law was officially published, which was the first time that a top-level design document for property rights protection was issued in the name of the central government.
Legal arrangements for the equal protection of public and private property rights and the renewal of research on residential land use rights … … As the saying goes, "those who have constant production have perseverance", only when public expectations are stable and social confidence is enhanced can the long-term healthy development of China’s economy be guaranteed.