if you are interested in it , Get free samples :sales@edabearings.com

Ren Zeping, chief economist of China Evergrande group and President of Evergrande Economic Research Institute, suggested that at present, we should use reform to stabilize growth, and that fiscal policy is superior to monetary policy; we should continue to promote fiscal and tax reform, and at the same time, monetary policy should appropriately cut interest rates and reduce standards, and cooperate with a good credit policy.
He said in "Caijing annual meeting 2020: Forecast and strategy" that the way out for China's economic growth comes from internal reform and opening up. In terms of stable growth, it is suggested to appropriately expand the deficit rate, which can exceed 3%, and the total deficit can reach 3 trillion yuan, making room for tax reduction and fee reduction as well as expansion of infrastructure spending.
"If China can open a new round of reform and opening up, the potential of China's economy is huge, and the best investment opportunities are actually in China." Ren Zeping said.
He believes that China can also increase the amount of special debt, from 2.15 trillion in 2019 to 3 trillion; continue to optimize tax reduction and fee reduction, mainly from VAT tax reduction and fee reduction to reduce the social security contribution rate and corporate income tax, and improve the sense of gain of enterprises; increase the proportion of profits handed over by state-owned enterprises; reduce expenditures other than people's livelihood and social security, and improve expenditure efficiency.
At the same time, we should continue to push forward fiscal and tax reform, such as the decentralization of consumption tax to local governments as soon as possible; monetary policy should appropriately reduce interest rates and reduce standards, and cooperate with the policy of credit.

---

PREVIOUS:The people's Bank of China says it has no legal digital currency        NEXT:Most analysts still expect the BoJ to continue easing