On April 29, the Political Bureau of the CPC Central Committee held a meeting to analyze and study the current economic situation and economic work. After the news release, market confidence was fully boosted. The Shanghai Composite Index and the gem index closed up 2.41% and 4.11% respectively. The onshore and offshore RMB exchange rates stopped falling and rebounded rapidly.
1. The overall situation was severely blocked. The three key tasks of "stabilizing growth, employment and prices" and the three clear requirements of "epidemic prevention, economic stability and safe development" were emphasized, and the economic growth target was not adjusted.
2. In terms of response policies, we should continue to implement the established policies and introduce incremental policies to hedge the lack of total demand, stabilize the market players and do a good job in relief and assistance. Focus on expanding effective investment and promoting consumption development, especially boosting infrastructure investment in the short term.
3. The top priority is to coordinate the epidemic prevention and control, ensure the smooth logistics, ensure the stability of the supply chain of lanjianqi industrial chain, and avoid social problems caused by supply shocks.
4. We should effectively control the three major risks and keep the bottom line of systematic risks: the downside risk of the real estate market, the downside risk of the capital market and the contraction risk of the platform economy.
5. Real estate: relax the regulation due to the city's policies, alleviate the plight of buyers, real estate enterprises and local governments, promote the recovery of confidence in the real estate market, promote the recovery of real estate sales and investment, and mitigate the risks of real estate enterprises.
6. Capital market: respond to market lanche in time, steadily promote the registration system and speed up the entry of long-term funds into the market.
7. Platform Economy: affirm its positive role, normalize antitrust supervision and introduce supporting measures.
Risk tips: the rebound of the epidemic exceeded expectations, the overseas impact exceeded the pause period, and the steady growth policy exceeded expectations
