Zhang Handong
On October 14, the President of the Central Bank of China Yi Gang said at the 2018 G30 International Banking Industry Seminar held in Bali, Indonesia that in order to solve the structural problems existing in the Chinese economy, it will accelerate domestic reforms and open -world, strengthen knowledge, and strengthen knowledgeProperty protection and consider treating state -owned enterprises under the principles of competitive neutrality.
Yi Gang's words can be described as a stone that stirred thousands of waves, which has aroused widespread attention at home and abroad.I think Yi Gang has a profound domestic and international background, and releases a major signal of the future policy trend of the Chinese government.
From the perspective of China, the development environment of private enterprises has always been quite sensitive and controversial.
At the policy level, the Chinese government has advocated that they have collected state -owned enterprises and private enterprises at the level, and they have released two 36 non -public economy, attaching great importance to and supporting the non -public economy.Nevertheless, the society is generally believed that private enterprises are obviously inferior to state -owned enterprises in the market access, development environment, and even exit mechanism; private enterprises feel that policies are thirsty in actual implementation.Make complaints.
The issues that enterprises have reflected more include the government's macro policies or industrial policies is not conducive to the survival and development of private enterprises; the government's administrative monopoly on land constitutes an obstacle to the free entering the land market;The competition is very unfair; local protection and state -owned enterprise protection have constituted a large barriers to the entry of private enterprises.
For example, the difficulty of financing of private enterprises.State -owned enterprises have a very low cost of funds. Starting from their own risk control, financial institutions are willing to lend their funds to state -owned enterprises with certain national credit attributes.The financing of private enterprises is very difficult. Many state -owned enterprises have simply become financial institutions. By obtaining low -cost funds from banks, and then loaning private enterprises through the form of financing trade.
The implementation of strict deleveraging policies in the past two years has not changed because the policy of the policy has not changed for a long time.Severe business difficulties.
In the first half of 2018, there was a significant differentiation of state -owned enterprises and private enterprises.The profit of industrial enterprises above designated size increased by 17.2%year -on -year. Among them, state -owned controlling enterprises increased by 31.5%and private enterprises increased by 10%.In fact, even in full -caliber statistics, the profit of state -owned and state -owned controlling enterprises in the first half of the year still increased by 21.1%, and this was obtained when total operating income increased by only 10.2%.
In the previous stage, there was a person named Wu Xiaoping, and even published a dazzling private enterprise withdrawal theory.He said that the private economy has completed historic tasks to assist the state -owned economy, and should be gradually withdrawn.Wu Xiaoping's discordant voice is a large negative impact on civil investment confidence.
Central media and private public opinion such as the Economic Daily have fiercely criticized Wu Xiaoping's remarks, pointing out that the private economy contributed more than 50%of the national fiscal revenue;Averaging more than 60%;
Enterprise technology innovation and new products account for more than 70%; urban employment accounts for more than 80%, the number of urban employment in the country is 425 million, and the employment of non -public ownership enterprises is 340 million, which is 80%;It contributed more than 90%of the proportion of new employment, so not only cannot withdraw, but also develop vigorously.
In this context, the highest leadership also explicitly expressed its statement that it must not shaken the development of private enterprises.This time, Yi Gang's statement can be regarded as a further response to domestic expectations.
Internationally, competitive neutrality has gradually become a new consensus in international economic and trade rules, and state -owned enterprises have distorted market issues and become important issues that developed countries accusing China.
The principles of competitive neutrality were first proposed by the Australian government in the 1990s. The purpose is to ensure equal competition between public enterprises and private enterprises.The Economic Cooperation Development Organization (OECD) later further developed it on it. With the coexistence of state -owned enterprises and non -state -owned enterprises, to ensure the connection between state -owned enterprises and the government, and do not bring additional competitive advantages to state -owned enterprises.
In recent years, Americans believe that the Chinese model has distorted competition, and it has pose a direct threat to the employment and competitiveness of the United States in many ways.Proposed the concept of administrative neutral competition and neutrality, which is to make the competition from being disturbed by factors outside the market to make up for the existing international economic rules of the (WTO), which cannot ensure the defects of fair competition between state -owned enterprises and private enterprises.
The United States is updating the current international economic criteria in terms of trade and investment in both WTO and other member states, especially for Chinese state -owned enterprises to formulate a competitive neutral framework.
At present, the Sino -US trade war has continued to develop in depth. So far, the largest trade war in economic history so far is due to the imbalance between China and the United States trade, but the essence behind it is the fundamental differences between the economic structure and economic system of China and the United States.Essence
It should be said that whether the connection between state -owned enterprises and governments in the world is generally worried about whether it will affect fair competition.The G20 summit this year is about to be held in Argentina. Before that, there was a Summit of the Gutin Group of the 20th Group (B20) Summit.This year's B20 summit is about to submit the policy recommendations of the G20 Summit, under the influence of the United States, Japan, Europe and other countries, highlights the topic of distorting the market for state -owned enterprises.
It is expected that this year's G20 summit, under the leadership of the United States, Japan, Europe and other countries, will definitely put greater pressure on China to distort the market for state -owned enterprises.The changes in the international economic situation have made China very urgent to implement the principle of competitive neutrality.
Prior to this, Chinese officials had repeatedly expressed their treatments with colleagues, foreign companies, and private enterprises.The principles of competitive neutrality are consistent with Chinese officials that have repeatedly expressed by Chinese officials.
But competitive neutrality is not only a general treaty, but also specific standards and meanings.The connotation of competitive neutrality confirmed by OECD includes: corporate business form, cost confirmation, business return rate, public service obligations, tax neutrality, regulatory neutrality, debt neutral and subsidy constraints, and government procurement.
Under the current international and domestic background, President Yi Gang proposed that competitive neutrality is not only an inevitable requirement for China to further deepen reform and opening up, but also China's responsibility to build a fair world economy for fair competition in construction.
I believe that the speech of President Yi Gang will never be casual, but it is likely that Chinese officials have considered accepting the principle of competitive neutrality, which will become a key step in China's deepening structural reform, which will help China to China to help ChinaEnterprises, including Chinese state -owned enterprises, have obtained a more fair competitive environment around the world, help to ease the Sino -US trade war, and will also have a positive and profound impact on future World Trade Rules and World Trade Organization Reform.
The author is the chief business representative of the Zhejiang Province in Singapore (Southeast Asia), representative of the China International Economic and Trade Arbitration Commission,
This year's B20 summit is about to submit the policy recommendations of the G20 Summit, under the influence of the United States, Japan, Europe and other countries, highlights the topic of state -owned enterprises distorting the market. It is expected that this year's G20 summitIt will definitely put greater pressure on China about the topic of state -owned enterprises distorting the market.The changes in the international economic situation have made China very urgent to implement the principle of competitive neutrality.
