The Supply Side Also Knows How Many "Three Carriages" Know.

Supply and demand are two aspects of a coin.

Demand is a product from the perspective of the problem; supply is from the perspective of factors.

If the demand side includes investment, consumption and export of three carriages, then the supply side also has three carriages, namely, labor, capital and technology.

Therefore, the essence of the supply side reform is to increase the number of inputs or increase the efficiency of the elements.

At the labor level, this includes: first, encourage delayed retirement and encourage fertility; second, the government provides public services such as education without discrimination, based on the principle of residents, to achieve unified national social security, medical care and unemployment relief services, or to facilitate the p regional pfer of these services, and promote the p regional and inter industry free flow of labor. Third, increase investment in education, especially in the field of vocational education and continuing education, or tax incentives.

Capital elements include capital, land and stock capital, such as machinery and equipment, and plant buildings.

The key to promoting the efficiency of capital utilization lies in the efficiency and marketization of the financial system.

In the field of banking and insurance, while promoting the marketization of interest rates and insurance rates, we should further relax market access and encourage financial innovation.

In the field of capital market, we need to speed up the implementation of registration system as a breakthrough and establish a multi-level capital market system with the new three boards and strategic emerging boards as the starting point.

On the basis of unified planning and usage control, we should promptly build an open, pparent and freely traded market for land use rights on the basis of unified planning and usage control.

In terms of stock capital, this includes:

First, we must strengthen the market discipline and accelerate the closure of enterprises that have lost their profit prospects and serious insolvency, so as to release the stock capital and labor resources as soon as possible.

Transfer to a more efficient direction of use.

Banks can consider speeding up the stripping of non-performing assets to the Asset Management Co and centralization of disposal. The securities industry can participate in the disposal of non-performing assets through the establishment of an industrial acquisition fund. Insurance companies can provide priority financing for this purpose, and the one or two tier stock market can provide the final export for the buyout fund.

Two, we should speed up the establishment and comprehensive compression of negative lists and open more manufacturing and service sectors to private capital for industries with access restrictions and government controls.

Three, the government will

And operating the infrastructure with its own operating cash flow to the market organization, providing subsidies or tax preferences to the public welfare part.

While increasing the supply of basic public services, extensive tax reduction policies should be implemented.

The four is strengthening.

Under the premise of speeding up the disposal of commercial housing inventory.

The government can consider the acquisition of part of the commercial housing into affordable housing or low rent housing, and the acquisition fund can also be disposed of through marketization.

At the technical level, one is to increase investment in education and basic research. The two is to provide tax incentives for enterprises to accelerate depreciation and R & D activities. The three is to provide a stable, clear and anticipated two level market export for the commercialization of advanced technology.