Li Yizhong Interprets Industrial Double-digit Growth for Two consecutive Months: Focusing on the Structure
2018-10-12 15:01:21
From January to July, the added value of industrial enterprises above designated size increased by 7.5% year-on-year, 0.5 percentage points faster than the first half. In June and July, it achieved double-digit growth. Is the situation of China's industrial economy stabilizing and rebounding clear? In the critical period of industrial recovery and recovery, what problems will be solved? On the morning of August 13, the State Council Information Office held a press conference and invited Minister of Industry and Information Technology Li Yizhong to interpret it in detail.
The industrial economy is stabilizing and the trend is clear
Since March this year, the decline in the growth rate of industrial enterprises above designated size has been curbed. The year-on-year growth rate of industrial added value has risen from 3.8% in January and February to 10.8% in July. Li Yizhong believes that this shows that the central government's response to the international financial crisis and the promotion of stable and rapid economic development have gradually seen results. The decline in China's industrial growth rate has been curbed, and the trend of stabilization and recovery has become increasingly clear.
Li Yizhong believes that among the major categories of industry, the most direct investment is the raw material industry and equipment manufacturing. From January to July, the added value of raw materials industry increased by 7.8% year-on-year, of which 13% in July; cement production in the first seven months increased by 15.9% year-on-year, 7.6 percentage points year-on-year; steel and non-ferrous metal production gradually recovered.
Encouraging consumption and stabilizing export policies and measures has greatly improved the operation of the consumer goods industry and the electronics manufacturing industry. Based on the domestic market, the consumer goods industry increased by 9.5% year-on-year in the first seven months, faster than the industry's overall growth rate by 2 percentage points. The electronics manufacturing industry is highly extroverted and affected by the international financial crisis. The value added in January-July increased by only 0.8% year-on-year. However, the growth rate in June and July has rebounded to 6.5% and 5.9%.
The equipment manufacturing industry (including automobiles and ships) also showed a rapid growth trend. The growth rate of the added value reached 10.1% in the first 7 months, of which the growth rate in July reached 15.9%. Household appliances, agricultural machinery, automobiles (motorcycles) going to the countryside, and the consumption tax of 1.5-liter and below displacement passenger cars have been halved, which has produced significant results. Among them, the automobile industry has become a prominent highlight of the industry in the first half of the year. In the first seven months, the country produced a total of 7.11 million vehicles, a year-on-year increase of 20.2%, and production and sales exceeded 1 million vehicles for five consecutive months.
The shrinking of external demand is still the biggest problem for industrial “guarantee growthâ€
Li Yizhong said that the industrial economy in the first half of the year showed a good running trend of stabilizing and rebounding. It is a comprehensive manifestation of a series of policy effects of the central government's "expanding domestic demand, ensuring growth, adjusting structure, and benefiting the people's livelihood". The achievements are hard-won. While fully affirming the results, we should also clearly see that the foundation for the current stabilization and recovery is still not stable.
First of all, the serious shrinkage of external demand remains the most prominent problem facing industrial “guarantee growthâ€. In the global economic downturn, China’s foreign trade export value fell 22% year-on-year in the first seven months. In August, the International Monetary Fund lowered its forecast for global economic growth this year to -1.4%. The export situation in the second half of the year is still not optimistic.
Secondly, China's consumer price index and industrial product ex-factory price index have been in the decline range since this year. From January to July, consumer prices fell by 1.2% year-on-year, and industrial product prices fell by 6.2% year-on-year.
Thirdly, the situation of a sharp decline in corporate profits has not been significantly improved, and a considerable number of enterprises are still operating very difficult. From January to May, the profitability of profitable enterprises fell by 17%, the loss of loss-making enterprises increased by 14.3%, and the loss was 23%. Among the 39 industrial categories, 19 industries saw a year-on-year decline in profits. In addition, overcapacity, low quality of production, and extensive management are still deep-seated contradictions affecting the steady and rapid development of China's industry.
There are six "hands" in industrial restructuring
"In terms of maintaining growth and adjusting structure, it is more important for industry to adjust its structure and transform its economic growth mode in the second half of the year," Li Yizhong said. This is also the main point of the work of the Ministry of Industry and Information Technology in implementing the central decision-making and deployment in the second half of this year.
The adjustment of industrial structure, the first is the adjustment of industry structure, including increasing industry concentration, eliminating backward production capacity, promoting industrial accumulation and industrial transfer of small and medium-sized enterprises; second, enterprise adjustment, including organizational structure, adjustment of shareholding structure, inter-enterprise Merger and reorganization, and internal resource integration, etc.; Third, product structure adjustment focusing on product quality.
"There is six grips on industrial restructuring." Li Yizhong said. The first is to grasp technological transformation. As of the beginning of August, this year's central government allocated 20 billion yuan of technical subsidy funds, and 1,680 items have been approved, with a total investment of 562.5 billion yuan. Second, mergers and acquisitions and elimination of backward production capacity. In the first half of the year, the calcium carbide and ferroalloy industries have eliminated backward production capacity of 200,000 tons and 400,000 tons respectively, and the coking industry has eliminated 4 million tons of small machine coke production capacity. The third is to optimize the development environment for SMEs. At present, the number of small and medium-sized enterprises accounts for 99%, the total economic output accounts for 60%, and employment accounts for nearly 80%. It is necessary to coordinate the implementation of fiscal and taxation policies that support the development of small and medium-sized enterprises, and strive to alleviate the financing problems of small and medium-sized enterprises and promote the structural adjustment of small and medium-sized enterprises. Industrial upgrading. The fourth is to formulate and revise the industrial policies of various industries and improve the market access threshold. The fifth is to accelerate the cultivation of new economic growth points, especially the use of electronic information technology in traditional industries to promote new industrial services and new emerging industries. Sixth is to vigorously strengthen the management of industrial product quality brand.
The industrial economy is stabilizing and the trend is clear
Since March this year, the decline in the growth rate of industrial enterprises above designated size has been curbed. The year-on-year growth rate of industrial added value has risen from 3.8% in January and February to 10.8% in July. Li Yizhong believes that this shows that the central government's response to the international financial crisis and the promotion of stable and rapid economic development have gradually seen results. The decline in China's industrial growth rate has been curbed, and the trend of stabilization and recovery has become increasingly clear.
Li Yizhong believes that among the major categories of industry, the most direct investment is the raw material industry and equipment manufacturing. From January to July, the added value of raw materials industry increased by 7.8% year-on-year, of which 13% in July; cement production in the first seven months increased by 15.9% year-on-year, 7.6 percentage points year-on-year; steel and non-ferrous metal production gradually recovered.
Encouraging consumption and stabilizing export policies and measures has greatly improved the operation of the consumer goods industry and the electronics manufacturing industry. Based on the domestic market, the consumer goods industry increased by 9.5% year-on-year in the first seven months, faster than the industry's overall growth rate by 2 percentage points. The electronics manufacturing industry is highly extroverted and affected by the international financial crisis. The value added in January-July increased by only 0.8% year-on-year. However, the growth rate in June and July has rebounded to 6.5% and 5.9%.
The equipment manufacturing industry (including automobiles and ships) also showed a rapid growth trend. The growth rate of the added value reached 10.1% in the first 7 months, of which the growth rate in July reached 15.9%. Household appliances, agricultural machinery, automobiles (motorcycles) going to the countryside, and the consumption tax of 1.5-liter and below displacement passenger cars have been halved, which has produced significant results. Among them, the automobile industry has become a prominent highlight of the industry in the first half of the year. In the first seven months, the country produced a total of 7.11 million vehicles, a year-on-year increase of 20.2%, and production and sales exceeded 1 million vehicles for five consecutive months.
The shrinking of external demand is still the biggest problem for industrial “guarantee growthâ€
Li Yizhong said that the industrial economy in the first half of the year showed a good running trend of stabilizing and rebounding. It is a comprehensive manifestation of a series of policy effects of the central government's "expanding domestic demand, ensuring growth, adjusting structure, and benefiting the people's livelihood". The achievements are hard-won. While fully affirming the results, we should also clearly see that the foundation for the current stabilization and recovery is still not stable.
First of all, the serious shrinkage of external demand remains the most prominent problem facing industrial “guarantee growthâ€. In the global economic downturn, China’s foreign trade export value fell 22% year-on-year in the first seven months. In August, the International Monetary Fund lowered its forecast for global economic growth this year to -1.4%. The export situation in the second half of the year is still not optimistic.
Secondly, China's consumer price index and industrial product ex-factory price index have been in the decline range since this year. From January to July, consumer prices fell by 1.2% year-on-year, and industrial product prices fell by 6.2% year-on-year.
Thirdly, the situation of a sharp decline in corporate profits has not been significantly improved, and a considerable number of enterprises are still operating very difficult. From January to May, the profitability of profitable enterprises fell by 17%, the loss of loss-making enterprises increased by 14.3%, and the loss was 23%. Among the 39 industrial categories, 19 industries saw a year-on-year decline in profits. In addition, overcapacity, low quality of production, and extensive management are still deep-seated contradictions affecting the steady and rapid development of China's industry.
There are six "hands" in industrial restructuring
"In terms of maintaining growth and adjusting structure, it is more important for industry to adjust its structure and transform its economic growth mode in the second half of the year," Li Yizhong said. This is also the main point of the work of the Ministry of Industry and Information Technology in implementing the central decision-making and deployment in the second half of this year.
The adjustment of industrial structure, the first is the adjustment of industry structure, including increasing industry concentration, eliminating backward production capacity, promoting industrial accumulation and industrial transfer of small and medium-sized enterprises; second, enterprise adjustment, including organizational structure, adjustment of shareholding structure, inter-enterprise Merger and reorganization, and internal resource integration, etc.; Third, product structure adjustment focusing on product quality.
"There is six grips on industrial restructuring." Li Yizhong said. The first is to grasp technological transformation. As of the beginning of August, this year's central government allocated 20 billion yuan of technical subsidy funds, and 1,680 items have been approved, with a total investment of 562.5 billion yuan. Second, mergers and acquisitions and elimination of backward production capacity. In the first half of the year, the calcium carbide and ferroalloy industries have eliminated backward production capacity of 200,000 tons and 400,000 tons respectively, and the coking industry has eliminated 4 million tons of small machine coke production capacity. The third is to optimize the development environment for SMEs. At present, the number of small and medium-sized enterprises accounts for 99%, the total economic output accounts for 60%, and employment accounts for nearly 80%. It is necessary to coordinate the implementation of fiscal and taxation policies that support the development of small and medium-sized enterprises, and strive to alleviate the financing problems of small and medium-sized enterprises and promote the structural adjustment of small and medium-sized enterprises. Industrial upgrading. The fourth is to formulate and revise the industrial policies of various industries and improve the market access threshold. The fifth is to accelerate the cultivation of new economic growth points, especially the use of electronic information technology in traditional industries to promote new industrial services and new emerging industries. Sixth is to vigorously strengthen the management of industrial product quality brand.
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