Zhongcai Office's Han Wenxiu published an article: Expand new space for domestic demand growth and adhere to optimizing new investment concepts

Han Wenxiu, the deputy director in charge of daily work at the Central Financial Office and director of the Central Agricultural Office, published an article titled "Adhere to Stability While Seeking Progress, Improve Quality and Efficiency to Achieve a Good Start for the 14th Five-Year Plan" on Qiushi.net. The article states that the integration of investment in physical assets and investment in people is a comprehensive update of investment concepts and a complete optimization of investment priorities. Investment in physical assets should focus on the real economy and technological innovation, expanding space and releasing potential. Investment in people should focus on improving people's livelihoods and developing human resources, increasing investment in capacity enhancement and potential development for all demographics and throughout the entire lifecycle, such as childcare, elderly care, health, education, and skills training. By empowering and promoting both physical and human capital through dual-direction investment, the accumulation of material capital and human capital can be coordinated.

The article emphasizes the need to strengthen counter-cyclical and cross-cyclical adjustments, continue to implement a more proactive fiscal policy, maintain necessary fiscal deficits, total debt scale, and total expenditure, improve precision and effectiveness, and take timely proactive measures. It also calls for the continued implementation of a moderately loose monetary policy, with the promotion of stable economic growth and reasonable price recovery as important considerations for monetary policy, focusing on smoothing the transmission mechanism of monetary policy, and maintaining basic stability of the RMB exchange rate at a reasonable and balanced level. At the same time, it emphasizes the need to expand new space for domestic demand growth and optimize and strengthen the domestic circulation. There is still significant investment space in areas such as new urbanization, technological innovation, industrial innovation, and improving people's livelihoods in the mainland, aiming to enhance people's livelihoods and effectively stimulate the vitality of private investment, promoting investment to stop declining and stabilize.

In terms of deepening reform and expanding opening up, the article proposes to continue advancing the construction of a unified national market and deeply rectify "involutionary" competition. It calls for sustained efforts in state-owned enterprise reform, improving the local tax system, market-oriented reform of factors, and comprehensive reform of capital market investment and financing. It also focuses on improving the quality and efficiency of foreign trade, promoting the integration of trade and investment, and the integrated development of domestic and foreign trade, driving balanced development of imports and exports. The article further states that it is necessary to promote the deep integration of technological innovation and industrial innovation, develop new types of productivity according to local conditions, accelerate the pace of industrial upgrading, formulate action plans for expanding and improving the service industry, deepen and expand "artificial intelligence +", fully empower various industries, and improve artificial intelligence governance