Textile Export Tax Rebate Rate Adjustment, Macroeconomic Regulation And Control Is Difficult To Relax In The Near Future.

Structural adjustment rather than general policy change.

The impact of export deceleration has been relatively large, and the impact of low end manufacturing industry is relatively direct. The call for relaxation policy has been very high (through the Department of Commerce, the Federation of industry and commerce, or through local governments), so the political pressure at the top is really great.

The export tax rebate adjustment is very small (11%-13%), and the export tax rebate rate of some high energy consuming industries has been abolished. In general, it is a structural fine-tuning.

Macroeconomic regulation is difficult to relax in the near future.

If there is a fundamental change, the short term is stimulus, but it is bound to stimulate inflation, followed by serious consequences.

Although the economic growth rate slowed down in 5 and June, the price increase was also falling, but it was still strong, and it just started to slow down.

Against this background, it is extremely lacking of foresight to relax macro-control in an all-round way. After all, inflation is still the first consideration.

According to our understanding, domestic demand rather than external demand is the decisive factor of China's economy.

The successful pformation of the economy is bound to be painful, and there is no two way.

Structural policy adjustments may continue.

It includes credit support from small and medium-sized enterprises, through fiscal expenditure in three rural areas, social security, regional coordinated development, independent innovation, energy conservation and consumption reduction, ecological protection and other fields, structural countermeasures are adopted to increase input in key elements and promote related mechanism innovation to increase effective supply, but this does not affect the overall situation of regulation.

The structure is the structure, the total amount is total, the key point of macroeconomic regulation is the total quantity, which is very critical.