The Central Economic Work Conference stressed that "we must persist in deepening the supply side structural reform and focus on expanding the synergy of effective demand". We should deeply grasp this understanding of the major laws of doing economic work well, and strive to promote the virtuous circle of the national economy.
Supply and demand are two aspects of economic development. General Secretary Xi Jinping pointed out that "without demand, supply cannot be realized, and new demand can spur new supply; without supply, demand cannot be met, and new supply can create new demand." This important statement profoundly reveals the dialectical relationship between supply and demand. The national economy is a complete organism. If there are problems in any aspect of supply and demand, the economic cycle cannot be unblocked and high-quality development cannot be achieved. In recent years, the Central Committee of the Communist Party of China has attached great importance to coordinating supply and demand, and making concerted efforts. New steps have been taken and new achievements have been made in high-quality development. In recent years, the "new three kinds" of industries have sprung up, which is a typical case of demand pulling supply and supply creating demand. On the one hand, we focus on core technology research and development, on the other hand, we focus on market promotion and application. We have not only cultivated a large number of enterprises with international competitiveness, improved the overall strength of automobile, new energy and other industries, but also driven the rapid growth of related consumption, investment, and export, which has become a major "highlight" of current economic development. To build a new development pattern and promote high-quality development, we must implement the decisions and arrangements of the Central Committee of the Communist Party of China, summarize and refine the existing successful experience, and constantly improve the ability and level to comprehensively promote the expansion of domestic demand and optimize supply.
To deepen the supply side structural reform is an inevitable requirement for achieving high-quality development. Reviewing the course of human modernization, it is a common feature of all previous scientific and technological revolutions and industrial changes to create new demand with new supply from the steam age, the power age to the information age and the digital age. In each era, several scientific and technological achievements have been widely penetrated into various industries, becoming the landmark technology of an era and creating a pillar industry of an era. At present, a new round of scientific and technological revolution and industrial transformation is developing rapidly. Guided by artificial intelligence, quantum technology, life science, etc., new industries, new formats, new models, and new demands are being bred and expedited. We should adhere to the main line of deepening the supply side structural reform, and the core is to promote industrial innovation through scientific and technological innovation, focus on strengthening the innovation drive, build a modern industrial system that is resilient, advanced and reliable, and develop new quality productivity. We need to implement the decisions and arrangements of the CPC Central Committee, accelerate the promotion of self-reliance in high-level science and technology, improve the new nationwide system for tackling key core technologies under the conditions of the socialist market economy, create a number of strategic emerging industries, open up new tracks for future industries, accelerate the transformation and upgrading of traditional industries, and improve total factor productivity by improving the industrial ecology and expanding application scenarios, We will promote the effective improvement of quality and the rational growth of quantity in the economy.
Focusing on expanding effective demand is a valuable experience in maintaining steady and healthy economic development. The market is the most scarce resource in the world. China's domestic demand market is a huge rich mine, and there is still much room for growth. For example, urban underground pipe network, high-quality education, migrant workers' housing, medical care, pension and other aspects have both huge investment demand and huge consumption potential. In recent years, in the face of the impact of international environmental changes and COVID-19 epidemic, the CPC Central Committee has deployed to build a new development pattern with domestic circulation as the main body and domestic and international double circulation promoting each other, and effectively implemented the strategy of expanding domestic demand, which not only maintained the sustained, stable and healthy development of China's economy, but also made great contributions to the balance and growth of the world economy. We should strengthen demand side management, effectively drive the "troika" of consumption, investment and export, and make productive capacity useful. In accordance with the decision and deployment of the CPC Central Committee, we should give full play to the unique advantages of China's super large market and strong production capacity, stimulate potential consumption, expand effective investment, provide a broad "territory" for the long-term stable development of various business entities, provide a deep "hotbed" for scientific and technological innovation, and provide a strong "backing" for resisting external shocks.
Breaking through the break point and blocking point of the combination of supply and demand is an important breakthrough to comprehensively promote the expansion of domestic demand and optimization of supply. At present, China's economy is faced with difficult challenges such as insufficient effective demand, overcapacity in some industries, weak social expectations, and many hidden risks. All kinds of problems are intertwined. To do a good job in economic work, we must strengthen systematic thinking, grasp the relationship between supply and demand in a comprehensive, linked and dynamic way, be good at finding the breakthrough of the organic combination of the two, and find the focus of policy support and market mechanism to play a better role. For example, accelerating the construction of a new real estate development model and promoting the construction of affordable housing and other "three major projects" can not only stabilize the related industrial chain, but also drive related investment and consumption. For another example, promoting large-scale equipment renewal and consumer goods exchange for new, and simultaneously strengthening recycling and recycling, is conducive to tapping the potential of domestic effective demand, improving the technical equipment level of enterprises, improving the efficiency of energy and resource use and self-sufficiency rate, and has the effect of "killing more birds with one stone". We need to implement the deployment of the Central Economic Work Conference, target the breakpoint of the combination of supply and demand, and stick to the two-way force of supply and demand. We should not only promote the reform and adjustment of the supply side production function, cultivate and enhance the "quality advantage", but also promote the demand side to continuously expand the capacity and increase, optimize and upgrade, consolidate and enhance the "quantity advantage", and strive to make the domestic big cycle a strong initiative to build a new development pattern and support high-quality development.
People's Daily (January 30, 2024, 2nd Edition)
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Adherence to high-quality development must be taken as the absolute principle of the new era
(Editor in charge: Zhao Xinyue, Qu Yuan)
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