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Central Economic Work Conference: Hong transfer next year ......
| Time：[2008-12-12] Read[190] | Before the closing of the central economic work conference, it is imperative to maintain stable and rapid economic development of the economic work next year as a top priority. In the meeting stressed the increase in expenditure and implementation of appropriate monetary policy also gives more fiscal and monetary policy implications, such as structural tax reduction, promotion of monetary and credit growth and reasonable, and so on. Analysis of industry experts pointed out that in the future as the situation changes, both fiscal policy and monetary policy or the means and strength will be adjusted in a timely manner.
Structural tax cuts to promote consumption
The Central Economic Work Conference emphasized the importance of promoting consumption. It was pointed out that in order to raise people's income levels and expand consumer demand, the ultimate focus, adjust the distribution pattern of national income. To improve the income distribution pattern, is a clear need for preferential tax policy, its proposal to implement structural tax reduction.
CICC Ha Jiming, chief economist of the view that tax could involve a number of structural types: In order to increase people's income to promote consumption, personal income tax threshold will be increased (to 3000-4000 yuan); transformation of value-added tax next year in full swing , Is expected to scale up tax 120,000,000,000; In addition, the business tax may also be gradual reform, the majority of China's service sector in the field of value-added tax levy of sales tax as an alternative in the future this part of the industry may gradually be incorporated into the value-added tax system, not only to reduce corporate tax burden, and is A reasonable tax system reform.
In the financial commitments, the meeting proposed to "optimize the structure of financial expenditure," and "increase the subsidies for low-income families and relief efforts." Societe Generale chief economist at the Center operating funds, political commissar of the analysis, said Lu, from financial investment, both railways and highways, airports, large-scale South-North Water Diversion Project, also needs a considerable number of farmers to participate in the more rural areas Infrastructure, such as every village access roads, rural small-scale water conservancy facilities and so on. In this way as far as possible, increase their income, increase in the consumer, the economy is to avoid deflation. In the long term, but also conducive to guarantee food security.
Reasonable growth of credit and promote development
CITIC Securities analyst Zhu Jian, chief macro-fang said that next year the monetary and credit policy objectives should not exceed the actual growth rate in 2008.
Bank of China Banking Regulatory Commission and the economic work conference held on the same day the closing of the implementation of the central economic work conference of the special session. The central bank suggested that the next stage should be based on expanding domestic demand to maintain steady and relatively fast economic growth, accelerate the development of structural adjustment and changes in the way of sustainable development to enhance the ability to implement appropriate monetary policy to play an active monetary policy to promote economic growth in the important role of Comprehensive use of various monetary policy tools to allow flexibility in adjusting supply and demand of funds and adopt more effective measures to support financial support for the development of small and medium enterprises, promote the steady reform of the financial system to promote economic and social development of fast and good.
Exchange rate stability, improve the international balance of payments
With regard to exchange rates, the central economic work conference, it is necessary to improve the guidance and market expectations, and maintain a reasonable balance of the RMB exchange rate basically stable at the level to further improve the balance of payments situation.
Expert analysis of the basis that the current devaluation of the renminbi have the pressure, but if sustained depreciation, on the one hand, could lead to more rapid outflow of capital, the impact on domestic financial markets, on the other hand, could lead to retaliation in other countries, not necessarily for export Favorable. In this case, the RMB exchange rate basically stable is the best option. |
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