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China's economic observation under the influence of the epidemic: short-term shocks are not enough to fear

This year is the year of building a well-off society in an all-round way and ending the 13th Five-Year Plan. The sudden COVID-19 epidemic has brought difficulties and challenges to the realization of the goals and tasks of economic and social development throughout the year. At this moment, people are paying more and more attention to the current economic situation in China.

"We have the ability, confidence and assurance to completely overcome the epidemic and accomplish the established economic and social development goals and tasks." "China has strong economic resilience, broad domestic demand space and strong industrial base. We have the confidence and ability to achieve this year's economic and social development goals, especially the key tasks of building a well-off society in an all-round way and fighting poverty." "The more at this time, the more we should look at China's development from a comprehensive, dialectical and long-term perspective, and the more we should strengthen our confidence and strengthen our confidence." "The epidemic will not shake the solid foundation of China's long-term stable development." "The impact of the epidemic on China's economy is short-term and generally controllable, and the long-term fundamentals of China's economy have not changed."

how to correctly view the impact of the epidemic on China's economy? How to meet the difficulties and achieve the goals and tasks of economic and social development this year? Starting from today, this newspaper published a series of comments on "The fundamentals of the long-term economic improvement have not changed", observing and judging the economic situation from various angles, witnessing the strong resilience and vitality of China's economy in the face of difficulties and challenges, solving doubts, increasing confidence and boosting strength.

On the eve of the Spring Festival, the epidemic in COVID-19 suddenly broke out. What impact will the epidemic have on China's economy?

"On the whole, the fundamentals of China's long-term economic improvement have not changed, and the impact of the epidemic is short-term and generally controllable. As long as we turn pressure into motivation, be good at turning crises into opportunities, restore production and life order in an orderly manner, strengthen the' six stabilities' measures, increase policy adjustment, and fully release the great potential and powerful kinetic energy of China's development, we can achieve the goals and tasks of economic and social development this year." More and more people realize that the impact of the epidemic on China's economy is phased and temporary, and it will not change the basic trend of China's economy's stability and long-term improvement; At the same time, we should also adhere to the bottom line thinking and actively respond to the impact and impact of the epidemic.

Look at the impact of the epidemic scientifically and rationally

"Just now, the deputy head of the district called me and said that he would take 51 buses to Anshun, Guizhou to recruit workers tomorrow, and personally pull the workers back!" After returning to work on February 11, the number of workers in Zhejiang Baima Industrial Co., Ltd. was less than 1/3 of the total number of employees. Just as Chairman Ma Miaowu frowned, the leader of jindong district, Jinhua City, where the enterprise was located, made a phone call to cheer him up.

in order to prevent and control the epidemic and promote the resumption of work and production in an orderly manner, various regions and departments have lent a helping hand to help enterprises tide over the difficulties.

renting a bus, contracting high-speed rail, managing accommodation, and subsidizing ... The government and enterprises joined hands and docked across provinces. Jiashan, Jiaxing, Zhejiang sent five recruitment teams to let employees return to their posts by special plane; Dozens of buses were chartered in Fuzhou, Fujian, and the recruitment team rushed to Yunxiangchuan; Huangpu District, Guangzhou, even sent "real money and silver". Enterprises above designated size were rewarded with 1 million yuan in the first quarter, and the highest reward for achieving double-digit growth was 5 million yuan.

rent-free, tax reduction, social security reduction, and no loans ... measures to help enterprises stabilize their posts are effective, and the business difficulties caused by the epidemic are alleviated to the greatest extent. The Ministry of Industry and Information Technology issued 21 measures to help small and medium-sized enterprises coordinate and solve problems such as raw material supply and material transportation; China Banking and Insurance Regulatory Commission has increased credit support for small and micro private enterprises trapped; The State Administration of Taxation announced a list of 185 "non-contact" online tax payment items; Beijing, Shanghai, Guangdong, Jiangsu and other places have introduced measures such as extending the social security payment period, reducing rent, and appropriately extending loans.

at present, positive progress has been made in resuming work and production. As of March 3, except Hubei Province, the average operating rate of industrial enterprises above designated size in China exceeded 95%, the average re-employment rate of enterprise personnel was about 81%, and the operating rate of small and medium-sized enterprises had reached about 61%.

objectively speaking, the epidemic will inevitably have a great impact on the economy and society. The epidemic has greatly reduced the population flow, and the impact on consumer demand, especially on service consumption such as catering, cinemas, transportation and tourism, and hotel accommodation, is the most obvious. From the supply side, affected by epidemic prevention and control, the circulation of production factors such as raw materials and labor is not smooth, which will affect the speed of enterprises' resumption of work and production to some extent.

However, many experts and scholars said that the economic impact of the epidemic should be analyzed scientifically and rationally. Under the centralized and unified leadership of the CPC Central Committee, China has adopted the most comprehensive, strict and thorough prevention and control measures. At present, the spread of the epidemic has been basically curbed, and the situation of prevention and control has gradually improved. We are fully confident and capable of winning the epidemic prevention and control war.

Looking into the future, with the end of the epidemic, the flow of production factors will return to normal, the pent-up demand will be released in a rebound way, and China's economy will return to the existing growth trend. "Although the COVID-19 epidemic will have a negative impact on economic activities, it will be a one-time impact after all." Cai Fang, vice president of China Academy of Social Sciences and member of the faculty, said.

Liu Yuanchun, vice president of Renmin University of China, believes that the impact of the epidemic on large economies is often short-term and phased, and generally returns to normal growth one quarter after the epidemic ends.

At present, although the epidemic will cause certain losses to China's economy, China has the ability to minimize the impact of the epidemic. At this stage, China's economic strength, material foundation and ability to deal with emergencies have been significantly enhanced, and it has the ability to minimize the adverse impact brought by the epidemic. Yang Weimin, member of the Standing Committee of Chinese People's Political Consultative Conference and deputy director of the Economic Commission, believes that the epidemic has limited impact on most industries and most areas of the country. At present, the central government and local governments at all levels have issued many policies, focusing on the prevention and control of the epidemic on the one hand and the recovery of production on the other, which will help hedge the impact of the epidemic.

Good fundamentals are conducive to overcoming the epidemic and maintaining a good momentum of economic development

The epidemic affects the pace of economic development in China, not the trend.

According to experts, the epidemic situation will not change the long-term positive fundamentals of China's economy. Not only that, good fundamentals are also conducive to overcoming the epidemic situation and maintaining a stable and long-term positive economic development.

-great strength, rich family background and solid foundation.

In p>2119, China's GDP was close to 1,111 trillion yuan, ranking second in the world, and its per capita GDP exceeded 1,111 US dollars. The output of more than 221 kinds of industrial products ranks first in the world, and it is the only country with all industrial categories listed in the United Nations industrial classification. The scale of foreign exchange reserves exceeds 3.1 trillion US dollars, making it the largest foreign exchange reserve country. The completeness and scale of production in China and the thickness of financial market make it difficult for exogenous shocks to cause economic trend changes, and provide sufficient ammunition for epidemic prevention and control.

"The deeper the family background, the stronger the impact resistance." Wang Xiaosong, a professor at the School of Economics of China Renmin University, said that China's fiscal revenue increased from 1.89 trillion yuan in 2112 to 19 trillion yuan in 2119, an increase of more than nine times, which means that China can make better use of fiscal policies, implement targeted tax reduction and fee reduction, and increase transfer payments to areas affected by the epidemic.

-sufficient motivation, strong potential and great development space.

China is still the largest developing country and is still in the process of urbanization. It is "just needed" to promote the settlement of about 1 billion agricultural transfer population in cities and towns, transform shanty towns and villages in cities where about 1 billion people live, and guide about 1 billion people to urbanization in the central and western regions, which will not disappear because of the epidemic. China has a population of 1.4 billion, and the middle-income group with more than 411 million people is still expanding steadily, so the domestic market has great potential.

"The epidemic situation will not have a long-term impact on the supply of production factors and productivity, and will not weaken the potential growth capacity of China's economy." Yang Guangpu, an associate researcher at the Macroeconomic Research Department of the State Council Development Research Center, said.

—— Strong control, rich experience and more leisurely response.

The Chinese nation is an indomitable nation. The greater the difficulties and challenges, the stronger the cohesion and fighting capacity. From the floods in 1998, the SARS epidemic and the Wenchuan earthquake to the Asian financial crisis, the international financial crisis and the changes in the international economic and trade environment, China's economy has demonstrated amazing risk resilience.

since the outbreak of the COVID-19 epidemic, under the centralized and unified leadership of the CPC Central Committee, relying on the institutional advantages of China people's unity of mind, concentrated efforts to do great things, strong material and technical foundation, and rich practical experience, we have been able to maintain the stable operation of China's economy.

"There is still ample room for macro-control policies in China. In terms of monetary policy, China is still one of the few countries that implement normalized monetary policy among major international economies, and the toolbox is sufficient to effectively hedge the impact of the epidemic. " Pan Gongsheng, deputy governor of the People's Bank of China and director of the foreign exchange bureau, said.

Respond positively and strive to achieve this year's economic and social development goal

"The temporary interference caused by the epidemic will not delay the realization of the goal of building a well-off society in an all-round way. Judging from the key quantitative requirements for building a well-off society in an all-round way, the goal of building a well-off society in an all-round way in 2121 can be achieved as scheduled. " Cai Fang judgment.

Cai Fang calculated an account: from the realization of the two "doubling" goals, the GDP growth rate will reach about 5.7% in 2121, and the per capita disposable income will reach 1.9%, so that the statistical accuracy can be achieved. Judging from the decisive battle against poverty, combined with the in-depth implementation of the rural revitalization strategy to consolidate the results of poverty alleviation, the goal of lifting 5.5 million rural poor people out of poverty this year can also be achieved.

to put it bluntly, we should not only resolutely win the epidemic prevention and control war, but also minimize the impact of the epidemic on economic and social development, and strive to achieve this year's economic and social development goals, but also rely on hard work.

-countercyclical adjustment has been intensified, and the policy of aiding enterprises has been given a "big gift package".

With the first loan of 5 million yuan from Ningbo Urban Credit Union, Xie Jianhao, the head of Kai Follette Auto Co., Ltd., finally put down his hanging heart. "Since the outbreak, orders for domestic negative-pressure ambulances have increased sharply, and the company's capital turnover is not enough, so it can only be anxious!" What Xie Jianhao didn't expect was that it took only 18 hours to call for a loan and he got a credit of 32 million yuan. "We don't need to mortgage a penny, but also implement preferential interest rates. We must let go of our hands and feet!"

311 billion yuan of special refinancing, lowering the loan interest rate, delaying the repayment of principal and interest, and exempting expressway tolls ... In just a few days, a package of policies was intensively released to help key livelihood industries resume production and support small and medium-sized enterprises to tide over the difficulties. As of 12: 11 noon on March 11, the credit support provided by banking financial institutions to fight the epidemic exceeded 1.5315 billion yuan.

-urban and rural government and enterprises joined hands to help the industry chain benefit from "timely rain".

the government is busy building bridges, so don't worry about supplies.

"The company will return to normal production level before the end of February." After returning to work on February 11, Cai Wenkun, general manager of Fujian Puster Clothing Co., Ltd., was once worried about the cost of epidemic prevention and control. The local authorities immediately contacted the cheap supply channels of epidemic prevention items such as masks and disinfectant. "We received many orders at the end of last year, and we are full of confidence in this year's development."

there are channels for career change, and the livelihood is guaranteed.

Liu Shufen, a 36-year-old Wuhan citizen, lost her job as a supermarket assistant and turned to become a part-time customer service worker in JD.COM. "I can work at home, and I can earn 61 to 71 yuan by working for at least 3 hours every day, which is quite satisfying." Since the outbreak, JD.COM Group has provided more than 35,111 jobs, enabling ordinary people like Liu Shufen to successfully change careers.

there is hope for increasing income when the agricultural supermarkets come to dock.

some winter fruits and vegetables in Hainan are rotted in the ground due to transportation obstruction and insufficient employment. Yu Huiqin, general manager of Hainan Wang Pin Agricultural Technology Co., Ltd., urgently contacted Wal-Mart, RT Mart, Yonghui and other national supermarkets to open up logistics channels. "At present, more than 11,111 tons of fresh fruits and vegetables have been shipped, and peppers with a unit price of 6 cents have been restored to 2 yuan!"

—— New economic kinetic energy has been bred rapidly, and transformation and upgrading have seized the "new opportunity".

Intelligent diagnosis and treatment assists doctors to analyze patients' lung images, big data technology assists government departments to manage migrant workers, online education creates Internet classrooms, and intelligent manufacturing helps enterprises to deliver orders on time ... While the traditional economy is affected by the epidemic, new economic kinetic energy is also emerging in generate. Organic in danger, looking for opportunities in danger. Coping with the impact caused by the epidemic will also provide an opportunity for China's industrial chain and industrial clusters to transform themselves into high-quality development.

with the strong leadership of the party central Committee and the unity of the people of the whole country, we will certainly be able to minimize the losses caused by the epidemic, win a decisive battle for a well-off society in an all-round way, fight against poverty and attack hard, strive to achieve the goals and tasks of economic and social development this year, and ensure the comprehensive construction of a well-off society and the successful conclusion of the 13 th Five-Year Plan.