Four driving forces boost China's economic growth.
18, the national development and reform commission held a press conference. Yan Pengcheng, director of the Political Research Office of the National Development and Reform Commission, said that in the first half of this year, China's economic growth, employment, prices, balance of payments and other major indicators were better than expected, and China's economic growth was driven by consumption and innovation. At the same time, supply-side structural reform tasks such as de-capacity and cost reduction are progressing smoothly.
Consumption is the main driving force of growth.
The economy grew by 6.9%, 7.35 million new jobs were created in cities and towns, the import and export of goods increased by 19.6%, the import and export of services continued to grow, and foreign exchange reserves increased for five consecutive months ... The semi-annual economic report was inspiring, and domestic and foreign institutions and experts raised their expectations for China's economic growth. However, some commentators believe that China's economic growth in the first half of the year is still driven by infrastructure investment. Yan Pengcheng responded that from the objective data and actual situation, such a conclusion does not hold water. China's economic structure has been constantly adjusted and optimized, and its development momentum has been transformed in an orderly manner. The growth momentum mainly comes from the following four aspects.
First, consumption has become the main driving force for economic growth, and its supporting role has been further enhanced. Judging from the situation in the past three years, the contribution rate of final consumption expenditure to economic growth is 48.8%, 59.7% and 64.6%, which are higher than the contribution rate of investment by 1.9, 18. 1 and 22.4 percentage points respectively. In the first half of this year, the contribution rate of consumption to economic growth reached 63.4%, 30.7 percentage points higher than that of investment.
Second, the role of innovation has become increasingly prominent, and new kinetic energy has accelerated. In the first half of the year, the added value of China's high-tech industry and equipment manufacturing industry increased by 13. 1% and1.5% respectively, which was 6.2 and 4.6 percentage points faster than that of industries above designated size. New industries, new formats, new models and new products are constantly emerging and growing sturdily.
Third, the effect of supply-side structural reform has been gradually released, and the relationship between supply and demand in the market has improved significantly. With the advancement of de-capacity, a large number of zombie enterprises have gradually withdrawn, making room for the development of other high-quality enterprises in the industry, which not only optimizes the resource allocation and productivity layout of the industry, but also promotes the improvement of the supply and demand structure of the industry, and the operating conditions and market expectations of enterprises have improved significantly. In the first half of this year, the benefits of industrial enterprises continued to grow rapidly, and the profits of industrial enterprises above designated size increased by 22.7% in the first five months.
Fourth, the continuous optimization of enterprise development environment has effectively stimulated the vitality of micro-subjects. The deepening of the reform of "decentralization, strengthening supervision and improving service" has effectively activated the potential and enthusiasm of entrepreneurial innovation. In the first half of this year, the number of newly registered enterprises in China was 29 1 10,000, a year-on-year increase of 1. 1%, and the average number of newly registered enterprises per day was1.6,000. The openness of service industry, manufacturing industry and other fields continued to increase. According to the World Investment Report 20 17 released by the United Nations Conference on Trade and Development in June, China is still one of the most popular investment destinations in the world.
In addition, in recent years, China's investment structure has been continuously optimized. In the first half of the year, investment in high-tech manufacturing and high-tech service industries increased by 2 1.5% and 22.3% respectively, while investment in ecological environment, water conservancy, transportation and education increased by 46%, 17.5%, 14.7% and 17.8% respectively.
Coal de-capacity completed 74% of the annual task.
In the first half of the year, positive progress and results were achieved in the work of de-capacity. As for steel, as of the end of June, "strip steel" was cleared as planned, and relevant inspections will be carried out soon; In terms of coal, in the first half of the year, * * * withdrew from coal production capacity 1. 1 1 100 million tons, completing 74% of the annual target tasks.
Yan Pengcheng said that de-capacity has effectively promoted the healthy development of the coal industry: the operating conditions of enterprises have improved significantly. In the first five months, the total profit of coal enterprises above designated size in China was123.4 billion yuan, an increase of 120 billion yuan over the same period of last year; The development environment of the industry has improved, and old problems such as illegal new production capacity, illegal construction and super-capacity production have been effectively curbed; The industrial layout has been obviously optimized, and a large number of coal mines with long-term losses and poor safety foundation have been accelerated to withdraw, further making room for the development of high-quality production capacity; Related risks have gradually eased, some bad or potentially bad coal enterprises' assets have turned into excellent ones, their lending capacity has been significantly enhanced, and contradictions and problems such as bank debts have been significantly alleviated.
Recently, coal prices have continued to rise, and some analysts believe that coal de-capacity has led to tight supply. Yan Pengcheng responded that the main purpose of de-capacity is ineffective and inefficient capacity. The withdrawal of this part of production capacity has little impact on the actual coal output, which is conducive to further improving the efficiency of resource allocation and capacity utilization.
He analyzed that the staged tight supply and price fluctuation are affected by several factors. First of all, the economic recovery has driven the rapid growth of the output of major coal-consuming products such as coal, electricity, steel and chemicals. From June 5438 to May, the national thermal power generation increased by 6.4% year-on-year, and the crude steel output increased by 4.4%, driving the coal consumption to increase by more than 60 million tons, up by 10.3% year-on-year. Since the beginning of this year, the drought of incoming water in major river basins has led to a sharp negative growth in hydropower production and an increase in coal consumption. In addition, the coal withdrawal in some provinces exceeded expectations, and strengthening law enforcement inspection and rectification in major coal-producing areas also had a certain impact on coal supply.
How to balance de-capacity and stable supply in the next step? The National Development and Reform Commission will focus on accelerating the release of high-quality production capacity, increasing the coordination and guarantee of transportation capacity, promoting the frequent and full development of clean energy, promoting the signing and performance of medium and long-term contracts, establishing and improving the corporate social responsibility reserve system, promoting the balance between market supply and demand, and preventing abnormal price fluctuations.
Then push down the cost of new measures and improve the profit rate of industrial enterprises' main business.
This year, a new package of cost reduction measures has been introduced one after another, including: degenerate value-added tax rate; Expand the scope of enterprise income tax concessions enjoyed by small and low-profit enterprises; Increase the pre-tax deduction ratio of research and development expenses of small and medium-sized science and technology enterprises; Pilot relevant tax relief policies for venture capital enterprises and angel investment individuals; Expand the pilot policy of pre-tax deduction of personal income tax for commercial health insurance to the whole country; Extend some preferential tax policies due at the end of 20 16 to the end of 20 19; Introduce a number of fee reduction measures such as temporarily exempting bank and insurance supervision fees; 22 provinces (including Xinjiang Production and Construction Corps) that allow the total unemployment insurance rate to be 1.5% will further reduce the total unemployment insurance rate by 0.5 percentage points; It is clear that during the year, the inter-provincial large-scale transportation license will be networked nationwide, and the license will be issued in one place and the whole line will pass, further reducing the logistics cost.
The effect of cost reduction is constantly emerging. 20171-in may, the main business income of industrial enterprises above designated size per 100 yuan of assets was 1 10.3 yuan, with a year-on-year increase of 5.6 yuan; The profit rate of the main business was 6.05%, an increase of 0.45 percentage points over the same period last year.
Yan Pengcheng said that the next step will be to crack the bottleneck restricting the healthy development of the real economy, further relax market access, reduce corporate taxes and fees, strengthen supervision during and after the event, and improve the efficiency of government services. Specific measures include compiling a list of investment approval items to the public, implementing a negative list of foreign investment nationwide, and promoting logistics to reduce costs and increase efficiency. (Reporter Zhao Zhanhui)