Abstract Since 2012, due to the weak global economic recovery, the problem of overcapacity in China's industrial sector has become increasingly prominent, and some industries have even experienced absolute excess. At the end of the first quarter, the asset-liability ratio of the steel industry continued to rise, and the overall asset-liability ratio was as high as 61...
Since 2012, due to the weak global economic recovery, the problem of overcapacity in China's industrial sector has become increasingly prominent, and some industries have even experienced an absolute surplus. At the end of the first quarter, the asset-liability ratio of the steel industry continued to rise. The overall asset-liability ratio was as high as 61.52%, and the chain continued to rise. Similar industries include glass, hydropower, cement, photovoltaics, non-ferrous metals, and so on. Despite the serious losses, new projects in many fields have been repeatedly banned. "We must vacate more energy to grasp major events, discuss long-term issues, seek overall situation, enhance the pertinence, effectiveness and authority of macro-control, and resolutely complete the hard task of curbing the blind expansion of industries with severe overcapacity," Li Keqiang said at yesterday's meeting.
The CCID World Institute of Industrial Research recently published an article pointing out that to curb overcapacity, it is necessary to adhere to the principle of “market regulation mechanism and government intervention as a supplementâ€. The author Lu Ping believes that developed countries have a relatively high degree of marketization. In the face of overcapacity problems, the government mainly adopts a market-oriented mechanism. The government usually plays a guiding and directive role, and rarely has blunt means of support and excessive intervention.
According to the above-mentioned NDRC, the problem of overcapacity has always been the focus of national attention and regulation. Resolving overcapacity in some industries has become an important task in adjusting the industrial structure. In recent years, many adjustment and guidance policies have been adopted from the central government to the local governments, but the results are not very satisfactory.
Recently, the media reported that the state is preparing to issue "Guiding Opinions on Resolving Overcapacity". Many ministries are actively investigating and formulating relevant opinions, and will soon submit them to the State Council in written form.
According to the overall plan, in the future, new projects in overcapacity industries will be strictly controlled, and illegal construction projects will be severely rectified. On the other hand, through the energy consumption indicators, environmental verification standards, bank credit, accountability, etc. to raise the industry threshold, market-based means to achieve the survival of the fittest, thus preventing further deterioration of overcapacity.
During the two sessions of the National People's Congress, the relevant person in charge of the National Development and Reform Commission said in a reply to the reporter that the idea of ​​resolving overcapacity is to "disintegrate and block". It is necessary to eliminate backwardness, increase mergers and acquisitions, raise the threshold of the industry, and strictly limit new projects.
Miao Wei, Minister of the Ministry of Industry and Information Technology, also said that to solve this problem, it is necessary to change the management method relying on administrative examination and approval as soon as possible, and turn to actively promote the improvement of market mechanism and reduce government intervention. The most urgent task is to strictly enforce market access and promote industrial and fiscal policies. Land policy and environmental policy linkage.
"This year will have a problem of 'heavy boxing' overcapacity (capacity), which is certain," said the NDRC.
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