Experts’ Interpretation of the Fourth Meeting of the Central Financial and Economic Committee

　　(CCTV Finance "Economic Information Network")Yesterday, the Central Financial and Economic Committee held its fourth meeting to study the issues of large-scale equipment renewal and trade-in of consumer goods, effectively reducing the logistics cost of the whole society. How to promote a new round of large-scale equipment renewal and trade-in of consumer goods? How to effectively reduce the logistics cost of the whole society?

　　The meeting stressed that the implementation of large-scale equipment renewal and trade-in of consumer goods will effectively promote investment and consumption, which will benefit both the present and the long-term. It is necessary to lay a good combination of policies, promote the continuous increase in the proportion of advanced production capacity, and more high-quality durable consumer goods will enter residents’ lives.

　　High-end intelligent green has become the focus of a new round of large-scale equipment update.

　　Zhu Min, Director of the Institute of Informatization and Industrialization Integration of China Information and Communication Research Institute:A new round of technological transformation and equipment renewal will help accelerate the large-scale promotion of intelligent manufacturing. Intelligent equipment and products such as CNC machine tools and industrial robots will also usher in new development opportunities and broad growth space, which will help accelerate the transformation and upgrading of key industries. High-end, intelligence, green and safety are the focus of future technological transformation and equipment renewal.

　　Trade-in of consumer goods will stimulate market investment to better meet consumer demand.

　　The meeting also pointed out that it is necessary to promote the upgrading and technological transformation of all kinds of production equipment and service equipment, encourage traditional consumer goods such as automobiles and household appliances to be replaced with old ones, and promote the replacement of durable consumer goods with old ones. Promote large-scale recycling and strengthen the development of the "trade-in+recycling" logistics system and new model.　

　　Yi Shaohua, Director of Market Circulation and Consumption Research Office of national academy of economic strategy:The consumption of residents in our country is in the stage of upgrading the quality in the field of physical consumption, so the trade-in of consumer goods can not only stimulate market investment, but also better meet the potential consumption demand of residents.

　　Reducing cost and increasing efficiency of logistics industry will promote the formation of a unified national market

　　In addition, the meeting stressed that reducing the logistics cost of the whole society is an important measure to improve the efficiency of economic operation. Logistics is the "tendon" of the real economy, which connects production and consumption, domestic trade and foreign trade. It is necessary to effectively reduce the logistics cost of the whole society, enhance the core competitiveness of the industry and improve the efficiency of economic operation.

　　Professor Ma Hong, Department of Economics, Tsinghua University Institute of Economics and Management:Reducing costs and increasing efficiency of the logistics industry is conducive to promoting the smooth flow of commodity factor resources in a wider range, promoting industrial structure adjustment and regional coordinated development. The upstream and downstream of the industrial chain can better optimize the layout according to regional endowments and institutional conditions, and promote agglomeration and economies of scale, as well as the formation of intelligence and digitalization; Promoting the integration of industries will also promote the formation of a unified national market and improve the overall operational efficiency of the national economy.