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Xinhuanet, Beijing, December 19 (Yang Xiaobo, He Fan) The Central Economic Work Conference proposed that “we should strengthen the structural reform on the supply side as the main line and focus on the management of the demand side.” In this regard, many experts interviewed by Xinhuanet believe that demand side management, which links production, distribution, circulation and consumption, is a comprehensive and systematic project and comprehensive and systematic change. The introduction of demand-side management provides specific “operational guidelines” for the implementation of the domestic demand expansion strategy.
“Compared to previous meetings, the overall sentiment from this year’s Central Economic Work Conference is that it has a broader vision and a larger plan.” Zhang Liqun, a researcher at the Macroeconomic Research Department of the State Council Development Research Center, said that faced with a situation of unprecedented complexity, the Central Economic Work Conference From the decision-making and deployment, a number of regular, systematic and holistic thinking about China’s economic development has reached a new level.
In his opinion, the most important aspect of the “focus on demand management” that the conference emphasized is to overcome the deadlocks that restrict the expansion of domestic demand. From the perspective of the relationship between supply and demand, in the process of adhering to the structural reform on the supply side next year, we must attach great importance to the management on the demand side and organically integrate the implementation of the strategy of expansion of domestic demand with the deepening of the structural reform on the supply side.
Zhang Liqun believes that demand-side management should adhere to the strategic foundation of expanding domestic demand and taking multiple measures simultaneously, in order to drive continuous improvement of consumption, increase employment and stimulate corporate vitality, and release a stronger and more durable economic boost.
Wen Bin, chief researcher at China Minsheng Bank, said China’s aggregate demand management has undergone transformations such as expanding domestic demand, stabilizing aggregate demand, and managing the demand side. In the period of expansion of domestic demand and stabilization of total demand, most of them are adjusting the short-term demand management tools to achieve the purpose of expanding total demand; the different demand management focuses on the medium and long-term systemic problems that restrict the growth of total demand. Based on short-term control tools such as currency and finance, we are committed to building a complete system of domestic demand and increasing the proportion of domestic demand in total demand; actively expand household consumption and increase the share of household consumption in domestic demand; continue promoting employment and increasing household income. , Increase the proportion of residents’ income in the national income distribution pattern and insist on expanding openness and improving the smoothness of the double cycle.
He believes that faced with the profound impact of the new corona pneumonia epidemic on the world economy, relying solely on the five main measures of capacity reduction, livestock reduction, deleveraging, cost reduction and compensation for deficiencies, it is difficult meet the needs of improving the overall efficiency of the national economic system. Therefore, the tightening of the main line of structural reform on the supply side, concentrating on the management of the demand side and the immediate launch of the management work on the demand side in the medium and long term that involves changes institutional, will help alleviate the current mismatch between demand and supply. The effect affecting the whole body will also help to improve the quality and efficiency of the supply system, promote the overall jump in China’s social productivity, and help China’s high-quality economic development.
