Source: Securities Daily
Our reporter Bao Xing'an
Private investment is an important supporting force to stabilize the overall economic market.Recently, a series of policies and measures to stabilize the economy issued by the central government and local governments all emphasize the stabilization and expansion of private investment.Experts suggest that multiple measures should be taken to stimulate the vitality of private investment and help the economy stabilize and rebound in the second quarter.
Liu Xiangdong, deputy director of the Economic Research Department of the China Center for International Economic Exchanges, told a reporter from Securities Daily that the key role of investment in stabilizing growth is inseparable from attracting more social capital to intervene. Only the extensive participation of private investment can expand investment scale. Take advantage of the multiplier effect brought about by investment expansion.
"Private investment accounts for nearly 60% of my country's total social investment, and it is the main force of economic growth. Stabilizing and expanding private investment plays a crucial role in ensuring reasonable economic growth in the second quarter." Performance Management Committee of China Society for Finance and Economics Zhang Yiqun, vice chairman of the board, told a reporter from Securities Daily.
Recently, the State Council issued the "Package of Policies and Measures for Solidly Stabilizing the Economy", proposing to stabilize and expand private investment and "encourage and attract more social capital to participate in major national projects".Zhao Chenxin, deputy director of the National Development and Reform Commission, said at a press conference held by the National Development and Reform Commission, "It is necessary to develop real estate investment trusts (REITs) in the infrastructure sector, and orderly promote government-private partnership (PPP) to revitalize existing assets and expand effective investment.”
Judging from the economic stabilization measures introduced by various places, Guangdong Province proposed that projects that are attractive to private capital should be promoted on a regular basis.Support private investment projects to participate in the pilot projects of real estate investment trusts (REITs) in the field of infrastructure, and promote government-private partnership (PPP) in a standardized and orderly manner; Shanghai proposes to further expand the field of private investment and encourage and attract more social capital to participate in municipal railways , a number of major projects such as new infrastructure; Tianjin proposed to formulate a list of major projects to encourage private capital participation, and regularly promote and publish it.
"Supporting private investment projects to participate in REITs pilot projects in the field of infrastructure is intended to revitalize existing assets, expand funding channels, and prevent government debt risks. It is conducive to expanding funding channels for infrastructure investment and further stimulating private investment to participate in public or quasi-public infrastructure. investment, so as to effectively guarantee the strength of medium and long-term financial support, and ensure the quality and efficiency of infrastructure construction." Liu Xiangdong said.
Zhang Yiqun believes that supporting private investment projects to participate in REITs pilot projects is an important measure to break the long-term occupation of private capital and improve the efficiency of capital turnover.It is conducive to attracting private capital to participate in government infrastructure projects, improving its enthusiasm, realizing the standardized entry and orderly exit of private investment, promoting the recycling of private capital, and making positive contributions to expanding effective investment and stabilizing economic growth.
Talking about how to further stimulate the vitality of private investment, Zhang Yiqun suggested to break the threshold standards and other restrictions, so that private capital can "enter"; at the same time, actively encourage private capital to participate in new infrastructure, high-tech applications and other fields, and formulate reasonable investment methods and benefit distribution mechanism to speed up filling the shortcomings of economic development.
Liu Xiangdong said that it is necessary to create a good investment environment, strengthen the protection of property rights, appropriately relax the access threshold, and attract more social capital to participate in the construction of key areas such as municipal transportation and new infrastructure.At the same time, it provides certain benefits in terms of land, energy use, and taxation.
