The central economic work conference was held in Beijing from December 8 to 10.
In 2022, the policy focuses on “steady growth” and supporting people’s livelihood. The central economic work conference released four easing signals.
First, fiscal easing. The key point of fiscal easing is to ensure people’s livelihood and employment. There are three types of loose operations. First, the traditional infrastructure investment is in front; Second, new infrastructure may expand in scale; Third, the scale of tax reduction and fee reduction is likely to exceed that in 2021.
Second, monetary easing. In 2022, we will use loose aggregate to maintain reasonable and sufficient liquidity, and will actively use two types of structural tools to increase support for the real economy, small and micro enterprises, scientific and technological innovation and green development.
Third, the real estate policy is limited and loose. Adhere to the principle of “housing without speculation”, strengthen the expected guidance, and promote the virtuous circle and healthy development of real estate. It means that there are three key points in real estate operation in 2022: real estate can not cool down too quickly; The current round of real estate stimulus is weaker than before; The real estate industry and real estate enterprises may face transformation.
Fourth, achieve “carbon peak” and “carbon neutralization” more flexibly. Ensure energy supply, and new renewable energy and raw material energy will not be included in the total energy consumption control. It means that the road of energy transformation will be more practical in the future.
Risk tips:
The fluctuation of overseas demand exceeded expectations, the duration of the epidemic exceeded expectations, and the dual control rhythm of energy consumption exceeded expectations.
