Source: Taiwan Wangbao
Wangbao Society Review
Since the beginning of this year, the Chinese economy has recovered, and international institutions have raised GDP growth goals. The government work report of the two conferences of China will set this year's growth goals at about 5%, slightly lower than market expectations.The steady growth goal, combined with the "new round of comprehensive deepening reform" proposed by the Central Economic Work Conference at the end of last year, we can see that China's attempt to promote reform will rather make the economic growth rate slower.Foundation.Judging from the recently released series signals and layout actions, state -owned enterprises and financial reforms will be the focus of China's new round of reform.
State -owned enterprise reform enters the deep water area
From 2020 to 2022, in response to the long -term inefficiency of state -owned enterprises, insufficient technological innovation, and poor competition mechanisms, etc.And efficiency.38,000 state -owned enterprises have established a board of directors to basically achieve external directors. Complete the management system and contract management system of the manager level, transferred from a group of managers who do not adapt to reform, and complete the "zombie enterprise" disposal and special poverty through integration and reorganization.Enterprise governance, strengthening industry leading enterprises.
In 2022, China ’s central enterprises achieved a total of 39.4 trillion yuan (RMB, the same below) and net profit of 1.9 trillion yuan, and increased by 30.03%and 35.71%compared with the 2020 launched in 2020, respectively.Through the "Three -year State -owned Enterprise Reform Action", Chinese state -owned enterprises have been shortlisted for the Fortune 500 list of the 2022 World Fortune World.
However, some obstacles to the deepest system mechanism that restrict the development of state -owned enterprises still exist, and state -owned enterprises and private enterprises are still inequality in terms of financial resources allocation. Because of this, the summary meeting in February this year emphasizes that the core competitiveness is emphasized around the improvement of core competitiveness.And enhance core functions, continue to seek painting and promote the reform of state -owned enterprises.Facing the booming new round of scientific and technological revolution and industrial changes, whether Chinese state -owned enterprises can be among the world -class enterprises in the future, maintaining innovative vitality in fierce international competition, and continuously enhancing corporate management capabilities and overall benefits. This is related to China's future strategyTest of layout.
The effectiveness of China's state -owned enterprise reform is closely related to the reform of the market economy system.It is worth mentioning that after the reform of state -owned enterprise reform entered the "deep water zone", if you want to achieve breakthrough progress on some key and difficult issues, the guidance and assistance role of finance has become increasingly obvious.With the help of the capital market, state -owned enterprises can better promote mergers and acquisitions, assets, layout, and integrating upstream and downstream industrial chains, thereby improving the scale and influence of high -quality state -owned enterprises.
Judging from the information released by the two sessions of the two sessions of China, China will further deepen the reform of the financial system to prevent financial risks and let the financial development serve the development of the physical industry.A few days ago, the Chinese State Council's reform plan (proposal) announced that the "highlight" is the reform of the financial regulatory system.The era of "first bureau" (PIFC, State Financial Supervision and Administration Administration).
Reduce intervention in financial market
With the growth of China's economy, the scale of the financial industry has continued to increase, and the overall size of the capital market ranks second in the world.In recent years, there have been many "thunderstorms" incidents on P2P network financial platforms in China, which has caused damage to social livelihood. Investors' losses are even more heavy. Facing a huge financial system, financial supervision needs to be improved.Judging from the announced reform plan, in the future, China's financial supervision will integrate the power of various regulatory departments on the one hand, eliminate the duplicate and cross -supervision of various departments before, and to be unblocked by the decree; on the other hand, Improve the ability to strike illegal and illegal financial behavior.
Reference to the experience of developed countries and regions, in addition to strengthening financial supervision, China's financial system also needs to further promote market -oriented reforms, reduce administrative instruction intervention, and enhance the innovative capabilities of digital finance.Data show that in the past 40 years, China's financial inhibitory index has dropped by about 40%, but it is still at a high level.In contrast, Chinese state -owned enterprises and other large enterprises are easier to obtain financing in the regular financial market than small and medium -sized enterprises. This will obviously lower the allocation efficiency of the capital market and is not conducive to market -oriented reform.Therefore, in the future, the institutional mechanism of the financial market should be improved, and unnecessary intervention should be reduced in order to enhance the innovation ability of the financial industry and better serve the real economy.
The key to China's economic recovery is domestic demand and consumption, but the market confidence is insufficient and consumer expectations have not been reversed. Therefore, the senior management of the government has continuously emphasized "stable expectations and confidence".The new round of comprehensive deepening reform, especially the reform of the financial institution system, can bring results, will be the key to whether the economy can grow.
