Han Yonghong: What signal does Xi Jinpings Shanghai inspection release?

11 months after China's strict epidemic prevention measures were lifted, and China officially visited Shanghai, the largest international financial center in the economic town and the largest international financial center in the country this week.This is also three years later, Chinese officials have set foot in Shanghai again.

Public information shows that since taking over the General Secretary in 2012, Chinese officials have gone to Shanghai at least five times, namely in May 2014, October 2017, November 2018, November 2019, and November 2020It has been once a year for four consecutive years.

At that time, the official schedule of China's official visit to Shanghai was related to the major activities held in Shanghai. In 2018 and 2019, he attended the first and the second China International Import Expo (Expo) in 2018 and 2019. In 2020, he attended the development and opening up of Pudong.Anniversary celebration conference.Three years after 2020, Chinese officials did not go to Shanghai again. Even if they entered the Expo earlier this month, he did not attend the meeting. Until this week, he made a special trip to Shanghai after the Politburo meeting.

He visited the three locations of Shanghai from November 28th to 29th: Shanghai Futures Exchange, went to Zhangjiang Science City Future Park to inspect the Shanghai Science and Technology Innovation Achievement Exhibition, and go to the home of urban builders in the new era of Minhang District to understandThe construction of affordable leasing housing in Shanghai.

These strokes have been carefully designed to display high -level policy orientation with the outside world. The three locations correspond to three themes: finance, technology, and people's livelihood, representing the blessing of the highest levels in these three fields.

Over the past few years, China's senior management has attached great importance to the guidance of scientific and technological innovation. The most impressive financial aspect is the "prevention of capital disorderly expansion" proposed by the Central Economic Work Conference in December 2020.However, the leadership has recently expressed their attention to finance.The Chinese official hosted the Central Financial Work Conference on the 31st of last month. It is affirmed that finance is the blood of the national economy, an important part of the core competitiveness of the country, and also requires the enhancement of the competitiveness and influence of the Shanghai International Financial Center.The highest -standard financial meeting in China was held after six years of absence, and its status was promoted from the National Financial Work Conference to the Central Financial Work Conference.

During Shanghai, the official Chinese official Thursday (November 30) also hosted a symposium on the integrated development of the Yangtze River Delta integrated development.High levels open to the public. "

The opening of China's high -level emphasis must be combined with the security of the country.Chinese officials require that the Yangtze River Delta region must focus on improving the ability of security development, and implement the "strong chain supplement" operation in important areas and key links that are related to the national economy and people's livelihood, strengthen industrial cooperation with the central and western regions, and striveSafe level.While steadily expanding the institutional opening of the financial field, we must also "better maintain national financial security."

From the perspective of CCTV's picture, many central Gao Qian accompanied Chinese officials to visit Shanghai, highlighting the importance of this trip.They include Cai Qi, member of the Standing Committee of the Political Bureau of the Communist Party of China and director of the Central General Office; two members of the Politburo -Deputy Prime Minister He Lifeng and Minister of the Central Organization Department Li Ganjie, and Zheng Zong, director of the National Development and Reform Commission.During the inspection, the first and second leaders of Shanghai: Chen Jining, member of the Politburo and Secretary of the Shanghai Municipal Party Committee, and Mayor Gong Zheng naturally accompanied him.

Li Qiang, Prime Minister of the State Council of China, did not participate in the inspection activities of the previous two days, but attended the Symposium on Thursday's Yangtze River Delta integrated development.Jiangsu, Zhejiang, and Anhui provinces believed in long stars, Yi Lianhong and Han Jun also spoke at the symposium.

This trip to Shanghai's high -level trip to Shanghai has raised some market participants' expectations for further opening up in China, especially when it is held in the Third Plenary Session of the 20th Central Committee of the Twenty Central Committee.There is no news of the Third Plenary Session, which makes people expect that the inspection activities of Chinese high -level levels can boost confidence in the Chinese economy.

From the unblocking of the epidemic to this day, China's economic desire is weak, and many data are not optimistic. The internal and external economic challenges have exceeded many people, and I am afraid that they are more official expectations.Real estate is in a downturn, and the investment of private enterprises cannot be hot. The increase in retail sales of social consumer goods has slowed significantly after June, showing that the public dares not to consume.Recently, another prominent alert was that the net outflow of foreign direct investment in the third quarter was $ 11.8 billion (S $ 15.9 billion), which recorded the first negative value since the record, reflecting the extent of the evacuation of foreign capital.

The tension between Sino -US relations and the decoupling of scientific and economic warfare initiated by the United States has exacerbated the pressure of China's economy, and also made the previous development method too highly relying on investment.Many original assumptions are beginning to be rewritten. For example, the Chinese economy will only get better and better, consumers have confidence to spend money. Foreign capital cannot be separated from the large market in China. Large -scale basic investment will bring economic benefits sooner or later ...…etc.The official has not found a solution that broke through the predicament.

Chinese leadership has previously realized that the original development model was unsustainable, so it would propose high -quality development and focus on the development of high -tech industries.Critics believe that the government's approach is to strengthen national dominance rather than market functions and exacerbate problems.They believe that the "prescription" that China needs to take is to expand fiscal expenditure, strengthen social security to encourage consumption and boost domestic demand.Moreover, China's remedial measures are too weak and not enough in time, which is not enough to have a substantial impact.

To sum up, the strongest signal of high -level high -level going to Shanghai may be that China still needs to develop economy, open to the outside world, and foreign capital, but more powerful policies need time, it takes researchIt is the theme of the high -level Shanghai trip.