On January 22, the first press conference of the National Development and Reform Commission was held in Beijing in 2019.
Meng Wei, spokesman for the National Development and Reform Commission, responded to concerns about economic growth, job cuts, Spring Festival guarantees, bond financing, expanding openness, and social electricity use.
Real economic growth rate is only 4.1%?
Development and Reform Commission: Speaking with Facts and Data
In response to foreign media reports on Chinas real economic growth of 4.1%, Meng Wei said that in 2018, Chinas economic operation remained within a reasonable range and achieved the expected economic growth target. I dont know what the basis is, but I think I still use facts and data to speak.
Meng Wei listed a series of data.
First of all, from the physical data, in 2018, the electricity consumption of the whole society increased by 8.5% year-on-year, the highest increase since 2012; coal consumption increased by 150 million tons under the strict control of new consumption, natural gas increased by more than 40 billion square meters, and the growth rate was more than 17%. The freight volume of the whole society increased by about 7%, of which the railway freight volume increased by 9.1%.
The physical quantity index is the most direct reflection of economic growth, and the above data can strongly support the annual economic growth data. Meng Wei said.
Secondly, from the perspective of related data, no matter which of the three methods of GDP accounting, the data supporting about 6.5% growth are matched.
From the perspective of the three major industries, in 2018, the value-added of industries above the national scale increased by 6.2%, the service industry production index increased by 7.7%, and the value-added of primary industry increased by 3.5%.
In terms of the three major demands, fixed assets investment increased by 5.9% in 2018, and rebounded monthly in the fourth quarter. Total retail sales of social consumer goods increased by 9%, and imports and exports denominated in Renminbi increased by 9.7% in the whole year.
From the perspective of employment and income, the number of new jobs in cities and towns reached 13.61 million in 2018, an increase of 100,000 over the previous year. In the first 11 months, the national fiscal revenue increased by 6.5%, and the profits of Industrial Enterprises above the scale increased by 11.8%. In 2018, the per capita disposable income of Chinese residents increased by 6.5%.
Thirdly, the predictions of some international organizations are comparable and persuasive.
The latest Global Economic Outlook issued by the World Bank in early January 2019 predicts that Chinas economic growth will be 6.5% in 2018, while the GDP growth of China by the International Monetary Fund and OECD will be 6.5%-6.6%.
Meng Wei said that China does not pursue high-speed development and pays more attention to high-quality development, but Chinas economy is fully qualified, has potential and has the ability to maintain reasonable growth.
Large-scale layoffs in Internet companies?
Since the second half of 2018, many Internet companies have reported job cuts, and the society is also worried about the prospects for employment.
Meng Wei responded by conducting research in a variety of ways, including holding talks with relevant enterprises and related industries. From what we know, the recruitment and employment of Internet enterprises are relatively stable, and there is no large-scale layoffs.
Statistics released by the National Bureau of Statistics show that the unemployment rate in the national urban survey remained between 4.8% and 5.1% in every month of 2018, achieving the expected target of less than 5.5%. In addition, according to the statistics of the Ministry of Human Resources and Social Affairs on the supply and demand of 100 Urban Public Employment Service institutions, in 2018, the rate of seeking employment remained above 1, and in the fourth quarter it was 1.27.
Meng Wei said that while the employment situation across the country remained stable, there were also changes.
On the one hand, the external environment is complex and grim, the economy is stable and changeable, changing and worrying, facing downward pressure, which will also be transmitted to the employment field to a certain extent. On the other hand, the supply of new labor force has been maintained at a high level. In 2019, the number of college graduates reached 8.34 million, an increase of 140,000 over the previous year, reaching an all-time high, and the pressure of total employment has not decreased.
Meng Wei said that the next step will be to work with relevant departments to adhere to the implementation of the employment priority policy and play a set of combination boxing.
One is to promote employment with steady growth. At present, every percentage point of economic growth will stimulate nearly 2 million people to find jobs. The second is to promote employment through entrepreneurship. Third, we should focus on promoting employment, focusing on the employment of College graduates, migrant workers, veterans and other groups. Fourth, improve quality to promote employment.
Is there enough weather?
NDRC: Ensuring a Warm New Year
With the coming of the Spring Festival, people are concerned about whether natural gas supply can be guaranteed.
Meng Wei said that up to now, the work of gas security in all regions has been stable and orderly. In order to ensure the stable supply of natural gas before and during the Spring Festival, the NDRC, together with the relevant departments, will do a good job of stable supply, stable price and stable operation, and do all its utmost to ensure that the people warm the Spring Festival.
In response to how to ensure price stability around spring, Meng Wei said that the National Development and Reform Commission (NDRC) had issued a notice requiring local price authorities to effectively strengthen the work of ensuring supply and price stability in the Spring Festival market, maintain the overall stability of important commodity markets and prices, and ensure the basic livelihood of the masses.
Specifically, it can be summarized as four further steps, further strengthening market price monitoring, further strengthening market regulation and organizational dispatch, further strengthening department coordination, and further completing emergency plans.
How to increase bond financing support?
Development and Reform Commission: Three Aspects of Effort
As a direct means of financing, bond financing plays an important role in alleviating the financing difficulties faced by private enterprises, especially small and medium-sized enterprises.
Meng Wei stressed that the National Development and Reform Commission will focus on three aspects, continue to do a good job in the management of corporate bond issuance, and continue to enhance the ability and level of corporate bonds to serve the real economy.
First, focus on key areas. We will give full play to the role of corporate bonds in supporting national strategies and plans and increase support for key areas and projects, such as financing for key projects such as pollution prevention and control in the Yangtze River Economic Zone. At the same time, we will increase the support of corporate bonds in the areas of poverty alleviation, agriculture, rural areas, water conservancy, ecological environment protection, social and livelihood, energy, transportation and other infrastructure areas.
The second is to expand the scale of issuance. Emphasis is placed on expanding the issuance scale of high-quality private enterprise bonds, promoting the innovation of bond varieties, and encouraging banks to grant medium-term and long-term loans to private enterprises for more than three years, especially for advanced manufacturing industries. At the same time, we should coordinate and promote the disposal of default bonds of private enterprises with good development prospects, and help them to rescue.
Third, we should focus on optimizing services. Active door-to-door docking, optimize the service process, improve the efficiency of corporate bond approval, and speed up the approval process. At the same time, support local development and reform departments to actively guide high-quality enterprises in the region to carry out direct financing of corporate bonds.
Is the opening pace too big?
Development and Reform Commission: Further opening-up is still needed
In 2018, China promulgated a new negative list of foreign investment access, introducing 22 open measures in automotive, financial and other fields. Some people are worried that the pace of Chinas opening up is too big, which will have a negative impact.
Meng Wei responded that a few comments questioning 22 open measures were not objective, irrational and irresponsible. Promoting reform and development through opening up is a valuable experience of Chinas reform and opening up. Standing at a new starting point, China still needs to further expand its opening up.
She pointed out that the implementation of the new version of the negative list has achieved positive results, and a number of major foreign investment projects of billions or even tens of billions of dollars have landed. For example, Tesla built an electric vehicle super factory in Shanghai, which integrates R&D, manufacturing and sales. BMW invested in a new third factory in Shenyang, and created the first foreign-funded holding securities company and the first foreign-funded insurance holding company.
Meng Wei said that foreign-funded enterprises are an important part of the national economy, contributing 1/2, 1/4, 1/5 and 1/15 of the countrys imports and exports, industrial output value, taxation and employment. In the future, China will unswervingly pursue a win-win strategy of opening up, implement a high-level policy of trade and investment liberalization and facilitation, continue to relax market access, create an international first-class business environment, and create a new opening-up plateau.
Wind power, photovoltaic parity access to the Internet?
Development and Reform Commission: Conditions are in place in some areas
A few days ago, the National Development and Reform Commission and the Energy Bureau issued the Notice on Actively Promoting the Work of Wind and Photovoltaic Power Generation with No Subsidies and Fair Price Access to the Internet. The question is whether Chinas wind power and photovoltaic industries have generally met the requirements of affordable access to the Internet.
Meng Wei said that in areas with good resource conditions, low construction costs, good investment and market conditions, the cost of wind and photovoltaic power generation has reached the price level of coal-fired benchmark grid-connected electricity, which has the condition of not requiring state subsidies to access the grid at a fair price.
She pointed out that as the scale of renewable energy such as wind power and photovoltaic continues to expand, technological progress continues to accelerate, and the cost of generating electricity has dropped dramatically.
By the end of 2018, 360 million kilowatts of wind and photovoltaic power had been installed in China, accounting for nearly 20% of the total installed capacity. Wind power and photovoltaic power generate 600 billion kilowatt-hours a year, accounting for nearly 9% of the total power generation. The average construction cost of wind and photovoltaic power plants put into operation in 2017 is 20% and 45% lower than that in 2012, respectively.
Meng Wei also announced the national electricity consumption in 2018.
In 2018, the electricity consumption of the whole society increased by 8.5% year on year, and the growth rate was 1.9 percentage points higher than that of the same period in 2017. Among them, the third generation and household electricity consumption continued to grow at a relatively fast rate of more than two digits. Electricity consumption in all provinces (districts and municipalities) in the country is increasing. Among them, Tibet, Guangxi, Inner Mongolia, Chongqing, Sichuan, Anhui, Hubei, Gansu, Jiangxi and Hunan have maintained double-digit growth.
Source: Guo is the author of the through train: Zhang Wenxiang, responsible editor: Li Hang_BJS4645