Three Highlights Of China'S Economy In 2011&Nbsp; Still Facing Huge Inflationary Pressure

In the last month of 2010, a series of macro-control policies were introduced intensively. After a crucial year of dealing with the international financial crisis, maintaining steady and rapid economic development, and accelerating the transformation of the economic development mode, Macro policy The adjustment has laid the groundwork for the trend of China's economy in the new year. A new page has been opened 2011 ， China's economy What's the biggest attraction?

　 Highlight 1: Managing inflation expectations and stabilizing prices are more prominent

Since 2010, the phenomenon of food relay price rise has impressed ordinary people deeply: from "garlic you ruthless", "beans you play" to "ginger you army", and from "sugar Gaozong", "oil you rise" to "apple what", new words are emerging in endlessly. According to the data released by the National Bureau of Statistics in December 2010, the consumer price index of domestic residents in November of that year "broke five", hitting a new high in the year.

In fact, the rise in prices is only increasing inflation expectations A concrete expression of. The loose monetary policy in the past two years, while promoting economic recovery, has also made the situation of excess liquidity increasingly serious. Many domestic experts predict that in 2011, China will still face huge inflationary pressure, and achieving the goals of economic development and structural adjustment while curbing inflation and stabilizing prices will become the main theme of macro-control.

The Central Economic Work Conference held in early December 2010, when deploying the economic work of 2011, clearly required that the basic orientation of macroeconomic policies this year should be active, steady, prudent and flexible. The key is to deal with the relationship between maintaining steady and rapid economic development, adjusting the economic structure, and managing inflation expectations more actively and steadily, and put stabilizing the overall price level in a more prominent position.

After the State Council issued 16 measures to stabilize prices in November 2010, implemented temporary price intervention, increased dumping and storage and other means, in December, the Development and Reform Commission and other departments again issued policy documents on maintaining market price stability during the New Year's Day and the Spring Festival, with the direct focus on managing rice bags and vegetable baskets, to ensure the stability of market prices in the short term. At the same time, the steady return of monetary policy has begun to accelerate.

Just a week before the arrival of the New Year, the Central Bank announced the second interest rate increase in 2010. Not long ago, Hu Xiaolian, Vice Governor of the People's Bank of China, further pointed out in the article entitled "Achievements of China's Monetary Policy Regulation during the Eleventh Five Year Plan" that the gradual return of money supply to normal will be the primary task in 2011. The policy line of tightening liquidity and curbing inflation has been very obvious.

At the same time, with the restart of the RMB exchange rate reform in 2010, under the complex international economic situation, how to maintain the stability of the RMB exchange rate and prevent the massive influx of hot money and imported inflation caused by the rising international commodity prices also became the focus of attention in 2011.

"The central government is fully aware of the seriousness of the current macroeconomic situation, and the policy thinking is very pragmatic." Sun Lijian, vice president of the School of Economics of Fudan University, said, "If we do not pay full attention to the challenges faced by the macro-economy, then the complex environment may inhibit the smooth progress of the 12th Five Year Plan proposal."

　　 Highlight 2: Stabilizing the real estate market and continuing regulation is a foregone conclusion

The real estate market is undoubtedly the most concerned part of China's economy in 2010. In the face of the rapidly rising house prices, since January 2010, the macro-control of the real estate market has been increasing. "National 11", "National 10", and several ministries and commissions jointly issued measures to regulate real estate in September... The property market has become a arena for policy and capital wrestling.

At the end of the year, the real estate market under the heavy pressure of regulation suddenly rebounded. At the same time, a number of ministries and commissions also issued corresponding regulation and supervision measures again. First, the Ministry of Housing and Urban Rural Development announced the "Tianliang" plan to add 10 million affordable housing units in 2011. Subsequently, in the last few days of 2010, the Ministry of Land and Resources disclosed 26 cases of idle residential land nationwide, and stressed that the development enterprises of idle residential land should be "seriously investigated for responsibility".

In addition, the pilot reform of property tax, which has attracted much attention before, has also begun to receive more and more attention, and the expectation of policy introduction has been very strong. {page_break}

"Judging from the current market situation, the real estate tax pilot is on the way, but it's just a case of no action at present, and it's a general trend to officially launch it in 2011." Yang Hongxu, director of the General Department of Shanghai E-House Real Estate Research Institute, said in an interview with reporters that Chongqing and Shanghai, as the first pilot cities, have made clear that they have made corresponding policy preparations.

Also in the last few days at the end of 2010, Jiang Weixin, Minister of Housing and Urban Rural Development, made it clear at the year-end working meeting of the Ministry of Housing and Urban Rural Development that curbing investment and speculative housing and curbing the rapid rise of housing prices would still be the main goal of real estate regulation in 2011. In addition to the existing regulatory policies, the Ministry of Housing and Urban Rural Development will further intensify its efforts to crack down on the practice of hoarding, while curbing foreign hot money from entering the real estate market. Especially in some hot areas and cities, the "purchase restriction order" of housing will be further strengthened. In addition, the existing regulatory policies will be further refined next year, and the regulatory policies will be reserved together with relevant departments.

At the end of 2010, the statements and measures of various ministries and commissions conveyed the strong determination of the central government to regulate real estate. Chen Guoqiang, director of the Real Estate Research Institute of Peking University, said that at present, the government's policy direction of restraining investment, speculative demand and returning real estate to its residential property has begun to evolve into a long-term trend.

Since China's real estate industry has become the convergence point of many economic contradictions, the real estate regulation in 2011 will certainly continue to be carried out in the overall context of macro regulation. The resulting changes in the investment structure will have an important impact on China's economy in the future.

　　 Focus 3: The transformation of development mode and structural adjustment will be accelerated

As the first year of the 12th Five Year Plan, accelerating the strategic adjustment of economic structure and enhancing the coordination and competitiveness of economic development have become the main tasks of economic work in 2011.

In the face of the strategic goal of transforming the development mode and adjusting the economic structure, it is still the primary task of China's economy in the new year to continue to strengthen the driving force of domestic demand.

According to the deployment made at the Central Economic Work Conference in December last year, China will make new adjustments in the reform of income distribution, livelihood security, income tax reform and other aspects in 2011, so as to enhance residents' consumption ability, improve residents' consumption conditions and cultivate new consumption hotspots.

In addition, the Decision of the State Council on Accelerating the Cultivation and Development of Strategic Emerging Industries, issued in 2010, will enter the specific implementation stage in the new year. A series of supporting policies are expected to be introduced in succession, and new economic growth points and investment hotspots are likely to be formed in 2011.

On the last day of 2010, the Ministry of Finance announced some fiscal and tax preferential policies that will continue to be implemented and will not be implemented in 2011. It is clear that continuing to implement structural tax cuts is one of the important contents of the proactive fiscal policy in 2011. We will continue to implement preferential income tax policies for some small low profit enterprises and support the development of small and medium-sized enterprises. We will implement various tax and fee reduction policies and promote the upgrading of the industrial structure and the development of the service industry. We will implement preferential tax policies that are conducive to energy conservation, emission reduction, environmental protection, and job creation. We will continue to clean up and standardize administrative fees and government funded projects. In addition, in order to speed up the adjustment and upgrading of the automobile industry structure, promote energy conservation, emission reduction and resource recycling, we will continue to adopt financial subsidy policies in 2011, support the comprehensive promotion of energy-saving vehicles and increase the demonstration and promotion of new energy vehicles, and continue to implement the policy of subsidies for scrapping and updating old vehicles.

Experts said that while the positive fiscal policy remains unchanged, the direction of specific fiscal tilt and subsidy policy changes are very obvious, mainly focusing on income distribution reform, strengthening domestic demand, stimulating private investment, energy conservation and emission reduction, and economic restructuring and upgrading. With the full implementation of the "12th Five Year Plan", the trend of accelerating strategic adjustment of economic structure in 2011 has been irresistible. It can be expected that in 2011, China's economy will make major breakthroughs and progress in adjusting the industrial structure and transforming the development mode.