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Keys to revitalizing real economy

As the year is about to end, all local governments have started convene meetings to deploy next year’s economic work; the central focus for the local economic work in 2017 is the "revitalization of the real economy" highlighted by the Central Government. However, implementing this effectively will be a real problem. Anbound research team believes that the revitalization of the real economy can be from the three perspectives of the market, the government and intermediary services. In the government’s perspective, there is the need to deregulate and open up the market, especially in breaking the dual factors of production factors and this should be done thoroughly. There is also the need to reduce the tax burden and reform the tax system; in fact the complaint of many private enterprises is not tax rate but the tax system, and that the government administrative processes are discriminative and inefficient. Next, there is also the need to strengthen services and management efficiency to encourage financial institutions and other professional intermediary service agencies to develop and improve the enterprise development environment.

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