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[] [Font size] [] cross-cycle adjustment, means that it is loose, but tightening is tight, the policy assessment period is extended from the short-term to the medium and long term, except for the economic growth of last year, I have to consider today and two years. condition.

The across cycle adjustment is more focused on economic structure optimization, and more focuses on steady growth and risk-risking, which means that the macro policy has changed logically, but the policy tone does not have substantial changes. Recently, "cross-cycle adjustment" is frequently mentioned.

From July 30th, the Central Political Bureau proposed "Being a good job of macroeconomic policy cross-cycle adjustment", from 16 August 16th State Council executive meeting, "Strengthening cross-cycle regulation against economic operation", and then on September 1 State Council The meeting deployment "Strengthen policy reserves, doing cross-cycle adjustments" … "cross-cycle adjustment" has become a hot topic. This concept of "cross-cycle adjustment" has emerged at the Central Political Bureau of the Central Committee on July last year. After a discussion of the year, many people have certain understandings.

In fact, "cross-cycle adjustment" and "inverse cycle adjustment" correspond to: the difference between the inverse periodic adjustment refers to the macro policy, the macro policy is tightened, and the economic cycle fluctuations are used in ironing economy. .

But this often brings some side effects, such as the relaxation period, may accumulate foamy risks, and the tightening risk foam may be punctured. Cross-cycle adjustment means that it is not enough to relax, but tightened tightening, the policy assessment period is extended to the medium and long term. That is, cross-cycle adjustment is more eye on medium and long-term economic operation, in addition to the economic growth of last year, it is also considered that the economic growth in this tomorrow.

It is difficult to sustainably, which is "high reading" under low bases last year. Because of the influence of neoguan pneumonia epidemic, economic growth needs to "see three years".

Therefore, this year’s macroeconomic policy should not receive too tight. To prepare for the pressure of next year’s economic downtime, the majority of small and medium-sized enterprises can better come out from the impact of the epidemic, lay the foundation for the next economic stable growth. So how should a macro policy such as fiscal, currency, employment? First, cross-cycle adjustment is more focused on economic structure optimization.

One of the current domestic economic recovery "unstable and imbalance" is that the structure is optimized, and the short-term inverse cycle adjustment tool is difficult to effectively solve the structural problems of the medium and long term.

According to the spirit of the central political bureau, macro policy needs to further strengthen structural functions, help SMEs and difficulties continue to recover. In fact, the level of recovery of SMEs will not only affect China’s employment recovery, but also affect the recovery of urban and rural residents to increase income growth, which ultimately affects consumption recovery.

  Second, cross-cycle adjustment is more focused on steady growth and risk-risk overall development.

When the economic operation is abnormal, the inverse cycle adjustment means for fiscal, currency is used in time, and it is indeed possible to return the economy to normal track, but if frequent use, it will generate "more add water, water is added" Awkward situation.

The cross-cycle adjustment allows macro-regulatory "toolbox" more flexible, especially when taking into account short periodic issues in economic development and medium-term structural problems, more global and forward-looking, thus enhancing economic growth potential And endogenous motivation, effectively prevent risk.

  It is worth mentioning that cross-cycle adjustments mean that the macro policy has changed logically, but the policy tone did not have substantial changes.

The macro policy should continue to maintain continuous, stability, sustainability, and coordinate and do two-year macroeconomic policies and maintain the economic operation in a reasonable range.

At the same time, according to international environmental changes and development of entity economic needs, strengthen policy reserves, improve the ability to respond to difficulties, and maintain a smooth health development and employment stability. . EDUCATION EXPLORATION. 汇 EDUCATION SCIENCE & CULTURE MAGAZINE.