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How much social capital can the local government activate by investing 45trillion yuan in infrastructure construction

how much social capital can be activated by the local investment of 45trillion yuan in infrastructure construction

China Construction Machinery Information

recently, it was learned from the provincial transportation work conference that 15 projects were arranged for the construction of expressways this year, with a construction scale of more than 800 kilometers, including 3 new projects, 4 completed projects and 8 continued projects

it is understood that the total mileage of highways in Shanxi Province ranks about the tenth in China. Governor louyangsheng pointed out that the construction of Shanxi expressway has cost a lot of money. Even if it is not moderately advanced, it is at least adaptive. However, some routes are still "basking in the sun" before they are opened. Therefore, the most important thing at present is to open up the "dead end Road" and realize the big cycle. Therefore, the main task of Expressway Development in our province in the future is to become, connect, improve quality and increase efficiency

this year, 15 projects will be arranged for the construction of expressways, with a construction scale of more than 800 kilometers, of which 3 will be newly started, 4 will be completed and 8 will be continued. The construction of the inter provincial export road should accelerate the construction of the Yellow River Bridge of yunbao expressway, the Yonghe yongheguan section of huoyong expressway, the Jinmeng Yellow River Bridge, the Yangcheng Manghe expressway, and the Gucheng connecting line of Wenyuan expressway; Within this year, the Shanxi section of Beijing Urumqi expressway will be completed, opening up two provincial exits from our province to Hebei and Inner Mongolia; The construction of jingle Fengrun heiyukou Expressway in Xingxian county was started. Coordinate with surrounding provinces and regions to promote the construction of Imp. & Exp. road projects at the same time, so as to realize inter provincial interconnection as soon as possible

in the construction of "dead end road" in the province, we should accelerate the construction of continuation projects of Changzhi Linfen expressway, Youyu Pinglu Expressway and Shenchi Kelan expressway; The reconstruction and expansion project of Licheng Changzhi expressway will be completed and opened to traffic within the year; The construction of two high-speed roads for popularizing the operational knowledge of the changed universal machine from East 2nd Ring Road of Taiyuan and Qixian to Lishi was started; Pay close attention to the closure of Gaoping Qinshui Expressway and Yuanping Shenchi expressway projects to ensure that they are open to traffic in the first half of the year

according to media reports, recently, various localities have successively released the government work reports of the two sessions. According to the information disclosed in the work reports of local governments, the government has a strong willingness to promote infrastructure to support the economy. The target scale of fixed asset investment in 2017 calculated by 23 provinces that have announced the target growth rate of vertical universal tensile testing machine and horizontal tensile testing machine has exceeded 45trillion

according to the investment objectives announced by local governments, they have a strong desire to "roll up their sleeves and work hard", and have a strong determination to invest in stabilizing growth, promoting development and promoting economic recovery. However, how such a large-scale investment comes from and whether it will repeat the mistakes of 4trillion investment is a matter of great concern. This is because, according to the investment assumptions put forward by various regions, it seems very different from 4trillion yuan, and the source of funds seems more reasonable, such as PPP, but it is difficult to predict where the final destination will be. It should be noted that the 4trillion investment in that year was not entirely government investment at first. It also put forward requirements such as investing in the real economy and attracting social capital. However, the actual implementation results turned into that the government took charge of everything, and social capital only played the role of jointly promoting the rise of house prices with the government. In addition to participating in real estate development, other aspects of social capital are basically irrelevant

the consequence of the government taking charge of everything was that the real economy was marginalized, social capital had no way out, house prices were rising, and government liabilities were expanding. Because the government has too much ability to mobilize social resources, other investors simply have no ability to compete with the government. The government's best job is urban construction and real estate development, which is to raise the land price and house price through a high degree of control over land resources, and then use the land that has been flooded with a lot of "water" to obtain bank loans and financing from various financing institutions to further promote the rise of land price and house price

because of this, the investment target announced by the local government has reached more than 10 times of 4trillion, so people can't help worrying about it. Because the government plans to invest so much, who will play the leading role and who is the main investor is a very critical issue. Obviously, the government should no longer play a leading role in this issue. It should neither play a leading role in direct investment, nor in indirect investment, nor in disguised investment. If you want to be a protagonist, you are the protagonist of improving the investment environment and providing services for social capital. Social capital must no longer be absent from this round of investment, marginalized and deprived of investment space

first, we should vigorously increase the proportion of investment in real industries. In terms of the current local economic structure, most of the investment in real industries comes from social capital, especially private capital. In other words, if the investment enthusiasm of social capital can be stimulated, the proportion of real industry investment will increase. On the contrary, to increase the investment proportion of real industries, we must stimulate the investment vitality of social capital. Obviously, the investment plans and objectives announced by local governments are far from enough to consider the investment in real industries, and there are few measures. More often than not, the emphasis on the real economy and investment in real industries has remained on the side of words, without the introduction of policies and measures to encourage and promote investment in real industries. Social capital has not seen the government's sincerity in attaching importance to the real economy, leaving hidden dangers for the government to raise the banner of investment again. Therefore, we must vigorously increase the proportion of investment in real industries and vigorously attract social capital to participate in the development of real economy. Social capital and the real economy are symbiotic and grow together. The strong vitality of social capital gives a strong impetus to the investment in real industries. On the contrary, it is difficult to be really strong

second, we should open up more channels for social capital to enter. Whether social capital can have vitality and become the protagonist of investment is one aspect of its own investment enthusiasm. Whether the government is sincere and willing to open up more channels for social capital is also a very important aspect. Since last year, social capital, especially private capital, has become increasingly cautious in investment. In addition to the poor macroeconomic environment, the most important thing is that there are too few investment channels for social capital. Many profitable projects have not been opened to social capital, and there is no room for social capital to enter. As a result, social capital can only obtain benefits through market speculation and underground activities. Therefore, if we want to achieve the investment target this year without bringing about new structural imbalances, we need to give more access to social capital. PPP, which is highly valued by all regions, may be a good choice. However, it is not easy to do a good job in PPP. Some places are carrying out disguised liabilities and indirect liabilities in the name of PPP. Obviously, this must be strictly prohibited, and we must not allow local governments to exploit loopholes

moreover, we should effectively improve the government's credit level. The credit level, credit quality and honesty of the government are directly related to the investment enthusiasm, enthusiasm and vitality of social capital. In recent years, the enthusiasm of social capital to participate in investment has weakened, especially the enthusiasm to invest in real industries. The reason is that the government's dishonesty is quite serious, and the interests of enterprises have suffered great losses in the government's dishonesty, resulting in a lack of confidence in participation. How to reshape the government's good faith image in the new round of investment, let the government's credit return to the government's work, do not make promises casually, and never break the promise once made, so as to make social capital and social investors trust the government and trust the government, which is very important for social capital to participate in investment

finally, we should vigorously promote the reform of state-owned enterprises. When the enthusiasm for social capital direct investment projects has not been fully stimulated, it is the most direct and effective means to attract the participation of social capital through the reform of state-owned enterprises. At present, social capital is still in a cautious wait-and-see stage to participate in the reform of state-owned enterprises, because it is worried that its own rights will be difficult to be protected after its participation. It should be said that such concerns are understandable. However, with the introduction of the new property rights protection policy, the central government has reported that Wacker silica gel and endersingenieure Co., Ltd. are developing a UV printing process to protect property rights. In particular, it is a great benefit to private investors to identify and rehabilitate the past unjust, false and wrong cases against private entrepreneurs. Therefore, we must take advantage of this good situation to strengthen the reform of state-owned enterprises and attract social capital to participate

in a word, how much social capital can be attracted by the 45trillion investment is the key to test the role and efficiency, ability and level, quality and efficiency of investment. Without the participation of more social capital, such an investment plan is very dangerous, and it is easy to produce new contradictions and problems

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