Wu Jinglian: China's economy will be very difficult this year
On the afternoon of February 10, the famous economist Wu Jinglian told Sina Finance today that Wu Jinglian believed that the Chinese economy will be very difficult this year. He believes that real estate is the pillar industry. The debate itself is the thinking of the planned economy, and the industries that can make money are good industries. If the central bank still has to issue a large amount of banknotes, house prices will continue to rise. 
Wu Jinglian believes that the Chinese economy will be very difficult this year. Because the problems accumulated over a decade have to be sorted out and resolved. The most important thing at the moment is to let the market play a decisive role in the middle of resource allocation.
He pointed out that it is very important to promote reforms now to prevent the outbreak of systemic risks. The proposal of the Third Plenary Session involves more than 300 reforms, which requires the various departments to grasp the key points, promote each other rather than contain them, so that the developed programs can work better.
In response to the role of local government in the reform, he believes that local governments are implementing macroeconomic regulation and control, and how to transform in the future is also a major challenge. "How does the secretary become the chairman of the board and how to become the CEO?" This involves many people's rights and interests. If the role problem cannot be solved, it will be difficult to make a decisive role in the market's resource allocation. What China is going to solve now is the implementation of the decision and the accumulation of problems in the past, and put forward some more effective measures.
He specifically mentioned the reform of state-owned enterprises: "The first article is still going back to the 15th National Congress of the Communist Party of China. (Editor's note: The 15th National Congress of the Communist Party of China and the 1st Plenary Session of the 15th CPC Central Committee proposed that it takes about three years to make most of the state-owned The medium-sized loss-making enterprises got rid of the difficulties and strived to establish the modern enterprise system by the majority of state-owned large and medium-sized enterprises at the end of the century.) The Third Plenary Session of the 18th CPC Central Committee decided to reaffirm these principles. The second is the treatment of the dead enterprises. It is the leading group, and a large number of state-owned enterprises with very high debt ratios rely on subsidies to live. In addition, from the perspective of anti-monopoly, from the legislative and law enforcement levels, state-owned enterprises and private enterprises should be treated equally and equally."
Wu Jinglian believes that the Chinese economy will be very difficult this year. Because the problems accumulated over a decade have to be sorted out and resolved. The most important thing at the moment is to let the market play a decisive role in the middle of resource allocation. He pointed out that it is very important to promote reforms now to prevent the outbreak of systemic risks. The proposal of the Third Plenary Session involves more than 300 reforms, which requires the various departments to grasp the key points, promote each other rather than contain them, so that the developed programs can work better.
In response to the role of local government in the reform, he believes that local governments are implementing macroeconomic regulation and control, and how to transform in the future is also a major challenge. "How does the secretary become the chairman of the board and how to become the CEO?" This involves many people's rights and interests. If the role problem cannot be solved, it will be difficult to make a decisive role in the market's resource allocation. What China is going to solve now is the implementation of the decision and the accumulation of problems in the past, and put forward some more effective measures.
He specifically mentioned the reform of state-owned enterprises: "The first article is still going back to the 15th National Congress of the Communist Party of China. (Editor's note: The 15th National Congress of the Communist Party of China and the 1st Plenary Session of the 15th CPC Central Committee proposed that it takes about three years to make most of the state-owned The medium-sized loss-making enterprises got rid of the difficulties and strived to establish the modern enterprise system by the majority of state-owned large and medium-sized enterprises at the end of the century.) The Third Plenary Session of the 18th CPC Central Committee decided to reaffirm these principles. The second is the treatment of the dead enterprises. It is the leading group, and a large number of state-owned enterprises with very high debt ratios rely on subsidies to live. In addition, from the perspective of anti-monopoly, from the legislative and law enforcement levels, state-owned enterprises and private enterprises should be treated equally and equally."
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