China's policy under the escort of "six stability" is like dancing on a steel wi

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      The pursuit of economic quality and efficiency improvement will inevitably be accompanied by a slowdown in growth. Looking forward to China's economy in 2020, under the tightening of both internal and external environment, we should strengthen counter cyclical adjustment to fully protect the "six stability" (stable employment, stable finance, stable foreign trade, stable foreign investment, stable investment, stable expectations), just like walking the steel wire between stable growth and risk prevention; and speeding up the implementation of reform and maintaining the constant and ever-changing policy will be the test of macro-control wisdom.
Maintaining the policy continuity means that the keynote of China's active fiscal policy and stable monetary policy will not be changed, and "seeking progress while maintaining stability" will be the main content of China's economic work in 2020. While the priority of employment will still be placed at the top of the macro-control policy, it is particularly necessary to maintain the support of the economic growth target at about 6% and the warning line of the deficit rate at 3%. However, it is not realistic to expect to continue to introduce unprecedented large-scale tax reduction and fee reduction.
"2020 is an important period. It is getting closer and closer to the first one of the two centenary goals, that is, to build a moderately prosperous society in an all-round way by 2020, so it is imperative to maintain the stable operation of the national economy." Yao Jingyuan, a former chief economist at the National Bureau of statistics and now a special researcher at the Counselor's office of the State Council, said.
He also pointed out that the downward pressure on China's economy is still great. He suggested that next year's GDP growth target should still be set at about 6%, the deficit rate target should be raised to 3%, and there is still room for interest rate reduction and reduction.
Last week's central economic working conference, which decided on China's 2020 policy direction, pointed out that in order to achieve the expected target for next year, we should adhere to the policy framework of "stability in macro policy, flexibility in micro policy and support in social policy", so as to improve the foresight, pertinence and effectiveness of macro-control.


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