The hottest local version of micro stimulus invest

2022-10-19
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In the face of the reality that the downward pressure on the economy is still great, the central level has continuously introduced "micro stimulus" policies focusing on "stabilizing growth, adjusting structure and benefiting people's livelihood", and local governments have also introduced a number of supporting measures, Launched a number of key projects. According to experts' estimates, the total planned investment of major projects in provinces and cities this year may have reached 6 trillion yuan. Due to the comprehensive supervision of shadow banking by the state and the prevention and control of local debt risks, how to ensure the source of funds has become the biggest challenge to implement these projects

at the beginning of March this year, Sichuan raised the investment plan value, and launched 500 key projects with a total investment of 2.88 trillion yuan, with an annual investment of 415.1 billion yuan. Since then, Guangdong has also launched a list of key projects of 3.67 trillion yuan, with an annual investment of about 450 billion yuan, higher than 420billion yuan in 2013. The goals of Zhejiang and Henan are more ambitious. Will the annual plan be continued or terminated? Many respondents believed that the capital was 640billion yuan and 1.2 trillion yuan respectively. Heilongjiang, Hebei, Chongqing, Shanghai, Guangxi, Fujian and other provinces have also expanded their investment and increased steadily. According to experts' incomplete statistics on the production reduction and restriction policies issued by the recent leaders' meeting of central and Eastern European countries in Tangshan, the total planned investment in major projects in various provinces and cities this year has reached 6 trillion yuan

this round of targeted "micro stimulus" measures covers taxation, shanty town reconstruction, railway construction in the central and western regions, stabilizing foreign trade, and launching a number of projects in infrastructure and other fields to encourage the participation of social capital. In order to cooperate with the implementation of the "micro stimulus" policy, various regions have successively introduced measures and launched a number of key construction projects

transportation investment is an important aspect of implementing the "micro stimulus" policy. Hufangjun, director of the Institute of transportation finance and finance of the Academy of Sciences of the Ministry of transport, told the economic information daily that the construction of National Expressway dead end roads and bottleneck sections of ordinary national highways in the highway field is the key to the implementation of the national "micro stimulus". Banks have given relatively strong support to such projects, and vehicle purchase tax subsidies have been tilted to these two roads. The vehicle purchase tax arranged this year has increased by 25% year-on-year, reaching 277.9 billion yuan

local governments have high enthusiasm for railway construction. In early July, 14 railway projects, including Ejina Hami railway, Beijing Shenyang passenger dedicated line, Hangzhou Huangshan railway and Harbin Jiamusi railway, have recently started construction. According to Guangzhou Railway Group, the Shanghai Kunming high-speed railway, the longest high-speed railway from east to West in China, is under construction on schedule, and the construction of Shenzhen Maoming railway has also started. At present, it is advancing as planned, and there is no financial problem. However, there are also some projects facing funding problems, especially the railways in the central and western regions

Wang Mengshu, an academician of the Chinese Academy of engineering, told that the implementation of this year's 800 billion yuan was very slow. Due to the lack of funds, the construction speed of some projects was very slow

recently, the national development and Reform Commission approved the feasibility study report on the new railway coal transportation channel from West Inner Mongolia to central China. The investment of this project is constantly rising, and there is no timetable when it can be fully started. "In 2011, the project proposal submitted by the former Ministry of Railways to the national development and Reform Commission estimated that the project investment was estimated to be 146.3 billion yuan. At the end of July this year, the development and Reform Commission approved the project feasibility study and said that the estimated total investment of the project was 193 billion yuan. Due to the rise in raw materials, labor costs, land acquisition and demolition and other costs, the project may eventually need 250billion yuan." Wang Mengshu said

Hu Fangjun said that the implementation of the national "micro stimulus" policy in the transportation sector has also increased the construction of national and provincial trunk lines. However, due to the fact that national and provincial trunk lines cannot be charged, in recent years, the planning and construction of national and provincial trunk lines have formed a model of building on behalf of maintenance, facing the problem of financing difficulties

this year, 800 billion yuan was invested in the railway, and 1996 billion yuan was completed in the first half of the year, less than 1/4 of the whole year. The investment in roads is 1.47 trillion yuan, and 587.2 billion yuan was completed in the first half of the year, less than 40% of the whole year. The implementation of the project is related to the "micro stimulus" effect. Some places pay close attention to the implementation of the project. For example, Sichuan proposed to do everything possible to promote the construction progress of the projects under construction in the second half of the year, and will carry out the cleaning and inspection of the implementation of government investment projects. The construction projects with national and provincial financial funds have been arranged before the end of June 2014, and strive to start all construction projects by the end of September; If the construction fails to start within the time limit, the allocated funds shall be recovered according to the situation

the source said that due to the large investment, long cycle and low income of transportation projects, these transportation infrastructure projects launched to social capital are difficult to attract social capital. Recently, the national development and Reform Commission has also been paying close attention to the new signs and challenges in various investment fields, and the effect of "micro stimulation". The national development and Reform Commission recently issued a document saying that it is actively coordinating and promoting the preliminary work of major transportation projects such as Beijing new airport, Mengxi central China coal transportation channel, Lhasa Nyingchi railway, and strive to start construction as soon as possible

Zhang Xiaode, deputy director of the Department of economics of the National Academy of administration, said that this round of "micro stimulus" has two aspects to pull the economy. One is that direct industrial investment has a direct pulling effect on the economy. For example, cement and steel are needed for railway construction, so they can create materials with wide softness and flexibility (3120, 14.00, 0.45%). Second, investment will also have a multiplier effect. Investing in railways will bring demand for cement and steel, which in turn will drive investment in cement and steel industries, and investment in these industries will also have a linkage effect, but these linkage benefits may lag behind

"the 4trillion yuan in 2008 played the role of leveraged investment. The idea at that time was that national investment led to local investment, and local investment led to direct and indirect financial investment. The total amount exceeded more than ten trillion yuan. It was irrigation investment, and some backward and polluting industries should have been controlled and liberalized. Compared with the investment in 2008, this investment was fixed-point, targeted, controlled, restricted and targeted." Zhang Xiaode said

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