The great rejuvenation of China

4. Improve the party’s ability and level of leadership over economic work

To do a good job in economic work, we must strengthen the centralized and unified leadership of the party Central Committee and enhance the party’s ability and level of leadership over economic work. China’s economy is a giant ship, and the larger the volume and the greater the wind and waves, the more important it is to steer the way. The economy has entered a new normal, and the development environment facing China has undergone profound changes, and uncertainties and unstable factors have increased significantly. Economic globalization has encountered twists and turns, multilateralism has been impacted, the international financial market has been shaken, and economic and trade frictions have adversely affected enterprises’ production and operation and market expectations; China’s economy is facing new and old contradictions intertwined, cyclical and structural problems are superimposed, and economic operation is stable and changing, and changes are worried. To achieve multiple goals such as stable growth and risk prevention, complete various tasks of economic and social development, and properly handle the relationship between the current and the long term, economic development and environmental protection, and the market and the government, the difficulty of policy choices and work has increased significantly.

Therefore, we must continuously improve the party’s ability and level of leading economic work, keep the rudder steady and the rudder well, and ensure that the giant ship of China’s economy moves steadily and far-reaching. Comrade Xi Jinping pointed out: “To lead a large socialist country with more than 1.3 billion people, our party must not only be strong in politics, but also have strong skills.”1 “Leading cadres at all levels should consciously strengthen study, enhance leadership ability, and improve management level.”2 This requires leading cadres at all levels to unify their thinking and action with the Party Central Committee’s arrangements for economic work, strengthen study and practice, cultivate professional ability, constantly enhance their ability to control the market economy, and improve their ability to manage and deal with economic risks.

(1) Adhere to bottom-line thinking, enhance awareness of danger, and improve risk prevention and control capabilities. In the face of profound and complex changes in the international environment and domestic conditions, and in the face of the interweaving of various contradiction risks and challenges, if the prevention and response are ineffective, it will be transmitted, superimposed, evolved, and upgraded, so that small contradiction risk challenges develop into large contradiction risk challenges, local contradiction risk challenges develop into systematic contradiction risk challenges, international contradiction risk challenges evolve into domestic contradiction risk challenges, and contradiction risk challenges in the economic field are transformed into contradiction risk challenges in the political field, and eventually endanger the party’s ruling position. Endangering national security. Therefore, we must adhere to bottom-line thinking, enhance the awareness of danger, take precautions, accurately study and judge, and properly respond to major risks that may occur in the economic field.

From the perspective of China’s current economic development, to prevent and resolve major risks, attention should be paid to the following aspects: balance the relationship between stable growth and risk prevention, grasp the rhythm and intensity; build a long-term mechanism for the stable and healthy development of the real estate market to prevent real estate ups and downs; strengthen market psychological analysis, do a good job in assessing the impact of policy introduction on the financial market, and be good at guiding expectations; strengthen market monitoring, improve risk early warning and regulatory coordination, and eliminate all kinds of hidden risks in a timely manner; Effectively solve the problem of difficult and expensive financing for small and medium-sized enterprises, increase the intensity of assistance to enterprises to stabilize jobs, and implement the employment priority policy; increase efforts to properly deal with problems such as difficulty in start-up, implementation, and personnel placement in the disposal of “zombie enterprises”, accelerate the promotion of market clearance, and release a large number of precipitated resources; adopt effective measures to do a good job in stabilizing employment, finance, foreign trade, foreign investment, investment, and expectations, and maintain economic operation in a reasonable range.

In the above seven aspects, the most important thing is to guard the bottom line of no systemic financial risks, and balance the relationship between stable growth and risk prevention. The central role of finance in the modern economy is reflected in the impact on economic development. Once a major financial risk occurs, it will cause economic losses to the relevant entities, affect the development of the real economy, and serious financial risks may even trigger economic crisis or even social crisis. Therefore, it is necessary to put the prevention and resolution of systemic financial risks in a more important position, effectively strengthen the party’s centralized and unified leadership over financial work, further deepen the reform of the financial system, improve financial supervision, strengthen financial security capacity building, and resolutely guard the bottom line of not occurring systemic financial risks.

(2) Take the initiative to pre-adjust and fine-tune, strengthen policy coordination, and improve macro-control capabilities. Innovation and improvement of macro-control are objective requirements for promoting the modernization of the national governance system and governance capacity. Since the reform and opening up, China has gradually explored macro-control methods with Chinese characteristics, which has played an important role in promoting sustained and healthy economic and social development. However, new changes in the domestic and international environment, new requirements for promoting high-quality development, and new problems in macro-control have put forward higher requirements for innovation and improvement of macro- control.

First of all, it is necessary to improve the ability to do something and not to do something. Grasp the boundaries of macro-control and avoid the problem of too much intervention in the operation of the market and the operation of micro-subjects. The government should resolutely hand over the matters that should not be managed to the market, minimize the direct allocation of resources, give full play to the decisive role of the market in the allocation of resources, better play its own role, and strengthen and improve the functions of macro-control, market supervision, public services, social management, and environmental protection. Strengthen the overall planning and coordination of policies, and reasonably grasp the timing, rhythm and intensity of the implementation of various policies. For the new situations and new problems arising in economic operation, we should further strengthen directional regulation and camera regulation on the basis of interval regulation, realize the formulation of macro-control goals and the institutionalization of the use of policy means, enhance the pertinence, forward-looking, flexibility and coordination of macro-control, and promote the balanced coordination and linkage of multiple objectives, multiple policies and multiple reforms. Second, it is necessary to enhance the comprehensive capability of macroeconomic regulation and control. The first is to integrate domestic and international factors, take a broader global perspective, learn from foreign useful experience, and actively adapt to and lead the adjustment and construction of international economic rules. The second is to integrate the docking of the central and local governments. Do a good job in top-level design at the central level to maximize local enthusiasm;

At the local level, it is necessary to strengthen the understanding, implementation and transmission of macroeconomic policies, refine and decompose the overall goals according to local conditions, and guide market entities to actively respond to and realize macro policy intentions. The third is to integrate the coordination of various departments. Strengthen the coordination of policy timing, boundary, direction, and goals, and realize the optimal combination of fiscal, monetary, industrial, regional and other policies.

Third, it is necessary to improve the ability of macro policies to coordinate and coordinate. Comprehensively use total regulation and structural regulation policies to promote effective coordination of development planning, fiscal, monetary, industrial, regional, consumption, investment and other policies. Focus on in-depth research on major issues restricting economic and social development, strengthen policy research, and promote the transformation of research results into strategic concepts, development plans, policy ideas, reform plans, major projects, etc. Make overall plans to promote the implementation of major policies, grasp the direction, intensity, rhythm and timing of policies, avoid excessive overlapping or mutual cancellation of policy effects, play a combination of policies that take into account overall planning, each with its own emphasis, and cooperate with each other, strengthen the comprehensive assessment of policies, especially major policies, and promptly propose improvement measures.

(3) Grasp social psychological changes, respond to social concerns in a timely manner, and improve the ability to actively guide market expectations. Good expectations often translate into orderly economic behavior, giving people the motivation, patience, and confidence to actively seek solutions to real-world problems and engage in long-term, creative activities. Unstable expectations often lead to short-sightedness of market entities and risk agglomeration. Under the condition of high informationization, the risk of agglomeration can easily spread, bringing challenges to national economic security. Therefore, actively guiding market expectations is related to sustained and healthy economic development and overall social stability. Only by forming good expectations can we unite our efforts, strengthen confidence in development, overcome various risks and challenges, and successfully complete various reform and development tasks.

To stabilize expectations, it is necessary not only to stabilize the present and eliminate the interference of short-term factors, but also to strengthen confidence in development and plan for the long term. First, we should adopt more reform methods, make more use of market-oriented and law- based means, and effectively stimulate the creativity of micro-subjects. It is necessary to focus on the pain points and difficulties of economic and social development, create a legal institutional environment for development through reform, and provide stable expectations for society. The second is to improve the ability of expected management, establish and improve the policy target management and major decision-making disclosure mechanism for various regulatory policies that can significantly affect economic operation, and clearly convey the intention, orientation and operating rules of policies and regulations to the market. At the same time, it is necessary to maintain the stability and consistency of economic policies, effectively guide market behavior, and form reasonable social expectations. Third, it is necessary to transmit the original intention of the policy and the intention of reform to all levels of economic and social development, strengthen the work of guiding public opinion, effectively guide the cadres and masses to rationally understand the current economic situation, and accurately grasp the orientation of macro policies

Prevent market entities from misjudging the effect of policies, prevent fragmented expectations of “blind people touching elephants”, and prevent non-professional and irrational value orientations from misguiding expectations. It is necessary to respond to social concerns in a timely manner, objectively report specific facts, and reflect the overall picture from a macro perspective; recognize short-term local risks, strengthen analytical capabilities, and clarify policy orientation. (4) Fully mobilize the enthusiasm, initiative and creativity of the whole society, and improve the ability to gather talents and use talents. Comrade Xi Jinping pointed out: “As long as there is the support and participation of the people, there will be no difficulties that cannot be overcome, and there will be no hurdles that cannot be overcome.“1 To uphold the party’s centralized and unified leadership over economic work and improve the party’s ability and level of leadership over economic work is to unite people’s hearts and minds, pool people’s strength, and fully mobilize the enthusiasm, initiative and creativity of the whole society to overcome difficulties and promote development. It is necessary to respect the initiative of the masses, extensively listen to their opinions and suggestions, and pool the wisdom and strength of the broad masses of the people on development. It is necessary to make good use of all kinds of talents, provide a stage and environment for workers, intellectuals, entrepreneurs and innovative talents in all walks of life to play a role, so that all labor, knowledge, technology, management and capital are full of vitality and burst out in competition, and all sources of creating social wealth can fully flow. It is necessary to enhance the vitality of micro-subjects, give play to the subjective initiative of enterprises and entrepreneurs, establish fair, open and transparent market rules and a business environment based on the rule of law, and further promote positive incentives and survival of the fittest. Leading cadres at all levels are the backbone of governing the country and should strive to become experts in promoting high-quality development. It is necessary to strengthen the study of modern economic knowledge, enhance leadership ability, improve management level, and continuously enhance the systematic, predictive, and creative nature of decision-making, work, and control efforts. It is necessary to strengthen the investigation and study of economic operation, be good at finding ideas and methods in study and practice, and ensure that all measures to promote high-quality economic development are implemented and effective. It is necessary to speed up the creation and improvement of the institutional environment, improve mechanisms such as performance evaluation, performance appraisal, and interest incentives that match high-quality development, and further strengthen the ideological consciousness and action consciousness of leading cadres at all levels to promote high-quality development.