What are the priorities and difficulties for economic recovery in severe epidemic areas?

What are the concrete and effective suggestions for promoting economic recovery in regions seriously affected by the epidemic？

On these questions,Wu Chuanqing, a professor in charge of the university's economic management, broadcasted live on Sina News to offer suggestions.

On April 9, with the theme of "How to Promote economic recovery in regions with severe epidemic",Professor Wu Chuanqing attended the live broadcast of "Zhonghong Lecture Series for public Benefit -- Short-term impact, medium and long-term Impact on the economy and Response to the epidemic".More than 35000 people watched it through Sina News live broadcast.

Professor wu explained which areas were the serious epidemic areas,combined with epidemic prevention and control of main time node, Xi general secretary’s speech and the content of the Political Bureau of the CPC Central Committee meeting.Professor Wu said that Hubei and Wuhan are the top priorities and decisive places in the fight against the epidemic.It is of great significance to support The orderly resumption of work and production in Hubei and form an economic and social order that is commensurate with the epidemic prevention and control.

What are the priorities and difficulties for economic recovery in severe epidemic areas? Professor Wu pointed out that the economic recovery in the worst-hit areas must coordinate "normal epidemic prevention and control" and "comprehensively promote the resumption of work and production".The path of economic recovery mainly includes investment, consumption and export. Investment can play a decisive role in the economic recovery in regions seriously affected by the epidemic. We should speed up the construction of investment projects and plan to implement a number of new projects. Consumption has played a fundamental role in the economic recovery in the worst-hit regions, with the focus on boosting domestic demand. The promotion of economic recovery mainly involves manufacturing industry, service industry and agriculture. In the process of manufacturing recovery, the industrial chain of manufacturing needs to be supported to resume work and production, and the recovery of consumer service industry should be fully paid attention to.Based on the theory of "regional economic operation entities", to investigate the difficulties of economic recovery in regions with severe epidemic situations, we should pay specific attention to the differences in difficulties, challenges and demands of different entities, such as governments, enterprises, residents and organizations of the third sector. Such as financial support, major project support, employment support, product sales support and other difficulties. Difficulties and policy demands are in the operation of various market players, such as capital, employment, orders, raw materials, industrial chain coordination, tax reduction and exemption, and allocation of production factors. Residents have difficulties in employment and living

Professor Wu reviewed the work arrangements of the CPC Central Committee and The State Council on economic recovery since January 2020. He focused on “Notice on further streamlining examination and approval services to accurately and prudently promote the resumption of work and production of enterprises”, “ Notice of the General Office of the Ministry of Industry and Information Technology on Carrying out the Action of Consolidating the Industrial Chain to Promote the coordinated resumption of Work and production of the industrial chain” and “Suggestions on the implementation of promoting consumption, expanding capacity, improving quality and accelerating the formation of a strong domestic market”. In the review process of measures taken by local governments to promote economic recovery in severely affected areas, Professor Wu took Hubei Province as a case to interpret and review “several Policies and Measures for Promoting Economic and Social Development of Hubei Province” issued by the People's Government of Hubei Province on March 21, 2020.

How to promote the economic recovery in the regions seriously affected by the epidemic? Professor Wu put forward five suggestions

1.Need to stabilize investment and increase effective investment so that investment plays a decisive role in supporting economic recovery. Make full use of new investment from the central government, issue and make good use of special debt issued by local governments, promote the construction of key projects, and plan a number of major projects to strengthen areas of weakness in public health, build new infrastructure and implement the 14th five-year Plan.2.Boost and expand consumption to give play to its basic role in economic recovery.We will adopt policies and measures to stimulate consumption and promote its expansion and quality.3.We will pursue high-quality industrial development, focus on supply-side structural reform, and improve the quality and efficiency of the supply of industrial products, agricultural products, and service products. Industry is the foundation of economy.In the process of resuming work and production, we will accelerate the transformation of old growth drivers into new ones, foster the development and growth of emerging industries, develop the digital economy, make the manufacturing industry more intelligent, and promote the transformation and upgrading of traditional industries. Hubei province should actively develop automobile industry, electronic information industry, phosphate fertilizer industry, health industry and other characteristic and advantageous industries. 4.We should develop and strengthen leading enterprises, promote industrial agglomeration, upgrade industrial chain level, and develop and expand advantageous industrial clusters. Industrial cluster is an effective form of industrial organization. In the process of industrial chain coordinated resumption of work and production, industrial chain leading enterprises and their core supporting industries are sorted out, and industrial chain, capital chain, talent chain and policy link are coordinated to promote the development of industrial cluster. 5.We will make good use of the policy tool. We will strengthen the sorting out, publicity and implementation of existing policies. We will promote the system of "accredited liaison officers in key enterprises” and the system of "grid personnel in enterprises"establish and improve the mechanism for responding to the demands of enterprises, and provide accurate services to enterprises. We will strengthen sorting out enterprise demands, evaluating policy performance and implementing detailed policies.

During the exchange and interaction, Professor Wu Chuanqing discussed with netizens who watched the live broadcast on the impact of the epidemic on export-oriented enterprises and measures to cope with the epidemic, how to detail the support policies for micro-enterprises and individual businesses seriously affected by the epidemic, and how to design the support policies for migrant workers unable to resume work in Hubei province.