Zhu Ying

Since the Sino -US trade war, the United States has accused China of the implementation of unfair trade, focusing on China's industrial policy, but the Chinese government does not negotiate industrial policy issues with the United States.

Three issues caused: first, the status of industrial policy in the Chinese economy; second, the status of industrial policy in the Sino -US trade war; third, can China's industrial policy turn to competitive policies?

First, industrial policy is the center of China's macroeconomic policy, and it is the implementation of the Communist Party's leadership economy.The party leadership economy is reflected through government policies. China's macroeconomic policy system includes industrial policies, fiscal policies, monetary policies, and regional policies. Among them, industrial policies are centers, which directly affects the economy than other policies.

Yang Weimin, former deputy director of the Office of the Central Finance and Economics Leading Committee, was the director of the Industrial Policy Department of the State Family Planning Commission. In 1993, he pointed out that the essence of industrial policy is the country's intervention in economic life and resource allocation.In order to give priority to developing key industries, supporting naive industries, restricting excess industries, and correcting market failures.The primary goal of China's industrial policy is to catch up with developed countries.

In 1987, China officially introduced industrial policies. In 1988, the National Planning Commission specially established the Industrial Policy Division. Liu He and Yang Weimin were core members of the Industrial Policy Department.At that time, those who insisted on the planned economy felt that industrial policies could be used as a cover and preserved the blood of the traditional system to the greatest extent, so they accepted the industrial policy from Japan.Industrial policy has played an important role in promoting the development of China's economy for decades, and some emerging industries in China are at the forefront of the world. The outstanding example is the high -speed rail.

Because the government directly allocates resources with the help of production factors, its negative effect is to distort the market, and excess capacity is only a result of distorting the market.The excess capacity of China is mainly concentrated in industries such as steel, coal, cement, electrolytic aluminum, flat glass and other industries.And overcapacity can trigger international trade frictions.

Second, industrial policy is the focus of the Sino -US trade war.The Trump administration has repeatedly accused China of implementing unfair trade. The main contents include not compliance with the WTO commitment, the rules of the World Trade Organization, infringing intellectual property rights, mandatory technology transfer, and large -scale subsidies for state -owned enterprises.

These contents can be found in the following means of China's industrial policies: tax deductions, direct fiscal subsidies, technical transformation and equipment renewal incentives, research and development subsidies, special charging policies, industrial organization policies, trade -related investment measures, export orientationAnd import alternative subsidies, pricing transfer subsidies.

The U.S. government has repeatedly required the Chinese government to carry out structural reforms.Structural reform is the mechanism and efficiency of production factors such as labor, capital, and land. This change is to change the industrial policy, which is to follow the market -oriented road.Trump launched a trade war to kill the Chinese government's strong intervention in the economy, and cooperate with China on a market economy platform.As U.S. Vice President Pence speaks: We will continue to ask for a free, fair and equal economic relationship with China.

Looking at the problem from the Chinese government, the US government's sword refers to the Chinese industrial policy, which directly challenges the leadership of the Communist Party.Starting from the bottom line, do not take the principle.Today, China's strong economy is supported by many huge industries, such as high -speed rail.The high -speed rail supports China's national strength and is also a weapon that China affects the world.Industrial policy is the weapon of China's development of the economy. The reason why China's economic economy is not fully contributed by the market economy.Deprint China's industrial policy is to cut the destiny of the Chinese economy.

China is a country that talks about politics, and economic issues will rise to political heights.Lenin has a saying that politics and economy cannot be the first place. This is a deep mark on mainland Chinese people.Taking the high -speed rail as an example, Western countries do not understand why China's high -speed rail loses money, why is it still to build.

China will explain this way: high -speed rail is a symbol of national high -tech technology and a country's business card.Through high -speed rail technology output, China has established an international image.It is because the high -speed rail can make hundreds of millions of Chinese travel convenient and enjoy the benefits brought by the rise of the country.That is to say, first of all, the cost and income of the economy is secondary.

Third, the turn of industrial policy to competition policy is the orientation of the market economy.The Sino -US trade war will eventually be resolved through negotiations, and the Chinese government will concessions, but the US government cannot get all what they want.On November 1, when meeting with the Republican Congress of the United States, Chinese Prime Minister Li Keqiang expressed his hope of taking a step back.On November 2nd, Trump said: I called the Chinese leader yesterday, and they were really eager to reach an agreement.On November 6, Chinese vice chairman Wang Qishan stated in Singapore: China is willing to negotiate with the United States to reach a economic and trade plan that both parties can accept.

What is the concession in China in terms of industrial policy?It is known that the answer depends on the determination of the Chinese government to deepen reform, but none of them know specific measures.In principle, is the party's leadership economy and industrial policy inevitable?Answer: No.But as long as the concept is changed, the prospects are different, Japan is an example.

Industrial policy is considered an important means to promote the economy after World War II, but many studies believe that the role of industrial policies has been exaggerated.Some studies believe that the productivity of the automotive industry and electronics manufacturing industry has increased the fastest, but the number of Japanese policy investment banks has the least funding; the oil and coal industries are the most backward, but they have the most loans to accept Japanese policy investment banks.

In the 1980s, Japan's industrial policy was separated from support for specific industries, and industrial policies gradually transformed into competitive policies and innovation policies.In October of this year, Xu Jingbo, a person from mainland China, had a speech on the transformation of Japanese companies.He cited the example of the Japanese Electric Corporation (NEC) abandoning the computer and the development of cutting -edge semiconductor technology, showing that the revolution of the Japanese industry was not guided by the government, but a self -revolution of an enterprise and a self -innovation.

The Sino -US trade war has become an upstream mechanism for China's market -oriented road. China, which is confident in roads, does not depend on the path. It should be hopeful to deepen reform.

The author is a professor of economics at Shanghai Normal University Business School