Poor's downgraded credit rating of China Ministry of finance responded: no need to worry _ | | Treasury credit ratings news
On March 31, the Vice Finance Minister on China's sovereign credit rating issues, Weidong told reporters in an interview.
Q: on March 31, the poor's ratings services issued a report maintaining China's sovereign credit rating unchanged, but the rating Outlook from "stable" adjustments to "negative". Within 1 month, there are two international credit rating companies downgraded the country's sovereign credit rating Outlook, Treasury have any views on this?
Answer: since the late 90 's, sovereign credit ratings have been rising steadily in China, p from "BBB" up to "AA-", Moody's from "Baa1" up to "Aa3", is the fourth highest level of their rating system. Even after the outbreak of the international financial crisis, in the world's major economies are going through the most difficult period, China's sovereign credit rating is on the rise, reflecting China's economic development has great potential and toughness.
China, the world's second largest economy and largest trade country, ever since the outbreak of the international financial crisis, has been the most important engine of growth and stabilizing force. Extremely complex situation facing the current global economic recovery and maintaining stable economic growth in China, it is assumed the international community responsibility, for practical initiatives to contribute to a global economic recovery. Even in the context of overall recovery anaemic global economy, China's economy still achieved a high growth rate. In 2015, China's GDP grew 6.9%, according to the figures, contributions to global economic growth rates of over 25%.
Also see, current economic development in China has great potential, great flexibility, leeway is very broad. The "Thirteen-Five" program for future five-year major targets for China's economic and social development, the implementation of innovation-driven development strategies, build new systems, optimization of a modern industrial system and other major initiatives. The Government work report, proposed to strengthen the supply side of structural reform, accelerate the break down institutional obstacles, improve the quality and efficiency of supply systems, further stimulating market vitality and social creativity, enhance sustainable growth momentum. The deepening of China's economic structural reform, as well as the progressive implementation of the relevant policies and measures, will continue to maintain high growth, sovereign credit rating which will provide a solid guarantee of long-term stability.
The Moody's, p's sovereign credit rating Outlook to "negative", to a certain extent overestimating the difficulties facing our economy, underestimated China's reform, the ability to cope with risk. Rating companies on China's economic structural adjustment and the real economy debt, reform of State-owned enterprises, financial market risk and other concerns, is not necessary. On China's achievements in economic and social development and the progress made in structural reform, rating companies also need to be aware of and fully assessed.
Reporter: rating company downgraded China's sovereign credit rating Outlook, run what would be the impact on China's economy and the financial markets?
Answer: the market confidence and expectations of modern economic and financial stability has an important role. Sovereign credit rating is one of the factors that affect market confidence and expectations, however, a country's economic fundamentals is what determines economic and financial factors underlying trend of running. Rating company will be China's sovereign credit rating Outlook to "negative", but expressed concern about the risks and tips, run on China's real economy and financial markets will not have a significant impact.
At present, China's economy was in a phase of economic growth transformation of "three stack" critical period, external and domestic supply and demand conditions have undergone profound changes. Comprehensive analysis of the world economy and China's development at this stage for a long period and its interaction, it is necessary to maintain a reasonable economic growth, the quantity on the basis of a qualitative leap forward, promotion of economic growth from extensive to intensive, from external to internal change, improving the balance and sustainability of economic development.
At present, China's overall smooth economic operation, long-term economic fundamentals have not changed for the better. From the perspective of growth and positive progress was made in economic restructuring, tertiary industry growth rate is significantly faster than other industries, consumption basic role is strengthened and substantial increase in the contribution of consumption to economic growth, fixed assets investment structure has been optimized. From the perspective of quality growth, productivity rising, energy consumption per unit GDP gradually decreased and by promoting technological progress, innovation, specialization and production innovation and increased investment in research and development to further enhance total factor productivity. From the perspective of growth environment, overall control of potential risks in the economy, have created good conditions for growth. For example, local government and corporate debt in the real economy still at a reasonable level, basis of devaluation of the RMB exchange rate does not exist, financial markets run smoothly.
Reporter: proposed in the Government work report "positive financial policies to increase its efforts", may I ask how to play a role in the steady growth of the financial sector and in the areas in which greater efforts?
Answer: at present, the growth rate of China's economy is undergoing a shift, structural adjustment pains, the old and the new kinetic energy of the new normal, requires constant innovation macro, continue to promote the reform and opening up. Implement the proactive fiscal policy, and strengthen its efforts, both fiscal policy and monetary policy coordination role to play, but also in terms of economic growth, structural and dynamical realize directional force, "drip" control, strengthening the preset tuning.
Steady implementation of the proactive fiscal policy, to promote the supply side structural reform in China is of great significance. By expanding deficits, the Qing state tax, optimizing the structure, improving performance, improving the supply structure on the supply side, promoting the development of power changed, on the demand side to boost effective demand, continue to release potential and actively support "to capacity to inventory, to leverage, reducing costs, fill the short Board" to promote stable economic growth.
For "active fiscal policies to increase its efforts" to be understood from the following areas: first, the tax reduction policy, the full implementation of camp to increase, increase the fees fund clean up and reform efforts, resolutely curb arbitrary charges, and reduce the burden on enterprises. Second, improve the deficit rate in 2016, budget deficit of 2.18 trillion yuan, the deficit was 3%, where appropriate increased financial expenditures and government investment in necessary, mainly used to compensate for the tax cut reduced financial reduction protects the Government should bear the responsibility. Third, optimize the structure of fiscal expenditure, continued efforts to increase financial resources and manpower used, innovation spending, inventory of stock funds financial, education, science and technology, social security, employment, poverty alleviation, eco-focused on spending, while reducing unnecessary or inefficient spending. Finally, improve the efficiency of fiscal management, continue to promote the cooperation of the Government and social capital model to promote PPP legislation and strengthen guidance, market development and continue to urge the local government in accordance with the budget law and the relevant system requirements, strengthening local government debt management, clarifying Government and market boundaries to prevent fiscal and financial risks.
Q: just now you mentioned the proactive fiscal policy, tax will be reduced fee, please turn to the Ministry of Finance on tax cuts will work?
A: the end of February this year, and published a joint communique the G20 Finance Ministers and Central Bank Governors meeting, clearly take growth-friendly tax policies. So-called growth-friendly tax, is how to make the tax system more conducive to the free market, formed a reasonable corporate tax burden, thereby contributing to economic growth.
In recent years, the tax structure of the financial sector, improve the tax function, stable macro-tax burden and taxation law, actively promoting the value-added tax, consumption tax, personal income tax, resources tax and other tax reforms. Meanwhile, for the macro-control function of taxation, preferential policies for integration of industrial systems, implemented a series of supporting the development of small and micro businesses tax breaks, perfect support for the people and the tax incentives for innovation.
As plays of the fiscal and taxation systems, pilot projects to camp early increases has been gradually expanded to nationwide transportation, telecommunications, postal services and part of the modern service industry, and have achieved positive results. Starting from May 1 this year, China will fully open the pilot projects to business increased, to extend the pilot project to the construction industry, real estate, finance, service industries, and all enterprise scope VAT included to offset the added real estate. In addition, step by step integrated classification with a combination of personal income tax reform, fully pushed reform of resource taxes ad valorem levy, implementation of fiscal policies to encourage innovation, continue to support the vessel tonnage tax and environment tax legislation.
Reporter: has been the subject of concern of the international credit rating companies in the financial sector, invites you to the financial sector in the financial area of work?
Answer: finance is the core of modern economy, improve the financial system market-oriented way, improve the efficiency of resource allocation, promote the development of the real economy. However, the financial sector on the economic risk of significant negative externalities, particularly systemic financial risks spread widely, concealment, vulnerability, highly contagious, with common characteristics. How to play a financial role to support the real economy and guard against systemic financial risk, finance sector remain high priority.
In recent years, initiate or cooperate with relevant departments of the Ministry has implemented a number of measures together to keep risk is a systemic culture of the bottom line, to support the real economy developments. In terms of deepening State-owned financial institutions, and constantly improve the corporate governance of State-owned financial institutions, promoting the establishment of a modern enterprise system, support conditions in domestic and overseas listing of State-owned financial institutions and increasing their strength, sound risk management and control systems, strengthening the incentive and restraint mechanisms, enhancing institutional vitality and competitiveness. In supporting the development of inclusive financial, through such measures as tax incentives, subsidies, incentives, subsidies, financial funds "four-two ounces of" the leverage advantage, leveraging financial resources focused on "supporting agriculture and little, weak," and promoting the resolution of "sannong", financing small and micro businesses and vulnerable groups, financing your questions. Construction of financial risk prevention mechanisms, and supported the establishment of the Securities Investor Protection Fund, futures investors protection fund, the insurance fund, supported the establishment of a deposit insurance system, to create a market-oriented financial risk protection net, for investors, provide a strong protection.
In the current situation, in order to create a favorable financial environment for steady economic growth, the Treasury continued to support the financial system, further promoting the construction of a modern financial enterprise system and adhere to the bottom line of thinking, sustained attention and prevention of financial risks credit risks and corporate debt, better play the role of financial support for the real economy, promote the steady and healthy development of the economy.
Responsible editor: Mao Minmin SN184
Article keywords:Credit finance
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标普下调中国信用评级 财政部回应：没必要担忧|信用评级|财政部_新闻资讯
3月31日，财政部副部长史耀斌就中国主权信用评级的有关问题接受了记者采访。
记者问：3月31日，标准普尔评级服务公司发布报告，维持中国主权信用评级不变，但将评级展望由“稳定”调整为“负面”。1个月内，已有两家国际评级公司下调了中国主权信用评级展望，请问财政部对此有什么看法？
答：自上世纪90年代以来，我国主权信用评级一直在稳步上升，标普从“BBB”提高到“AA-”，穆迪从 “Baa1”提高到“Aa3”，目前均为其评级体系的第四高等级。即使是国际金融危机爆发后，在世界主要经济体经历最困难的时期，我国主权信用评级也在上 升，这反映出我国经济发展具备巨大的潜力和韧性。
我国作为全球第二大经济体、第一大贸易国，自国际金融危机爆发以来，一直是全球最重要的增长引擎和稳定力量。 当前全球经济复苏面临极其复杂的形势，我国保持经济稳定增长，是主动承担国际社会责任、为全球经济复苏贡献一份力量的切实举措。即使在全球经济整体复苏疲 弱乏力的背景下，我国经济依然实现了较高的增速。2015年，我国GDP增速为6.9%，据有关数据显示，对全球经济增长的贡献率超过25%。
同时要看到，当前我国经济发展潜力巨大、韧性很强、回旋余地非常广阔。“十三五”规划纲要明确了今后五年我国 经济社会发展的主要目标任务，提出了实施创新驱动发展战略、构建发展新体制、优化现代产业体系等重大举措。《政府工作报告》提出要加强供给侧结构性改革， 加快破除体制机制障碍，提高供给体系的质量和效率，进一步激发市场活力和社会创造力，增强持续增长动力。中国经济随着结构性改革的不断深化，以及相关政策 措施的逐步落实，将继续保持中高速增长，这将为主权信用评级的长期稳定提供坚实的保证。
此次穆迪、标普将我国主权信用评级展望调整为“负面”，在一定程度上高估了我国经济面临的困难，低估了我国推 进改革、应对风险的能力。评级公司对我国经济结构调整、实体经济债务、国有企业改革、金融市场风险等方面的担忧，是没有必要的。对我国经济社会发展取得的 成就和结构性改革取得的进展，评级公司还需要深入了解和全面评估。
记者问：评级公司下调我国主权信用评级展望，对我国经济和金融市场运行会产生什么影响？
答：市场信心和预期对现代经济金融稳定运行具有重要作用。主权信用评级是影响市场信心和预期的因素之一，但 是，一国的经济基本面才是决定经济和金融市场运行走势的根本因素。评级公司将我国主权信用评级展望调整为“负面”，只是对一些风险表示关注和提示，对我国 实体经济和金融市场运行不会产生明显影响。
当前，我国经济正处在经济增长阶段转换的“三期叠加”关键时期，外部和内部的供给和需求条件都发生了深刻变 化。综合分析世界经济长周期和我国发展阶段性特征及其相互作用，我国有必要保持合理的经济增速，在量的基础上实现质的飞跃，推动经济发展方式从粗放型向集 约型转变，从外延型向内涵型转变，提高经济发展的平衡性和可持续性。
目前，我国经济运行总体平稳，经济长期向好的基本面并没有改变。从增长动力看，经济结构调整取得积极进展，第 三产业增速明显快于其他产业，消费基础性作用得到增强，消费对经济增长的贡献率大幅提高，固定资产投资结构也不断优化。从增长质量看，全员劳动生产率不断 提升，单位GDP能耗逐步下降，并将通过促进技术进步、组织创新、专业化和生产创新，以及增加研发投入等，进一步提高全要素生产率。从增长环境看，经济运 行中的潜在风险总体可控，为增长创造了良好条件。比如，地方政府和实体经济企业债务仍处于合理水平，人民币汇率也不存在持续贬值的基础，金融市场运行平 稳。
记者问：《政府工作报告》中提出“积极的财政政策要加大力度”，请问财政部门在稳增长中如何发挥作用，并将在哪些方面加大力度？
答：当前，我国正处于经济增速换挡、结构调整阵痛、新旧动能转换的新常态，需要不断创新宏观调控方式，继续推 进改革开放。实施积极的财政政策并加大力度，既能发挥财政政策与货币政策的协调配合作用，又能在经济增长速度、结构和动力方面实现定向发力，进行“滴灌” 调控，加强预调微调。
稳步实施积极财政政策，对我国推进供给侧结构性改革具有十分重要的意义。通过适当扩大赤字、清费立税、优化结 构、提高绩效，在供给端改善供给结构，促进发展动力顺利转换，在需求端提振有效需求，不断释放消费潜力，从而积极支持“去产能、去库存、去杠杆、降成本、 补短板”，促进经济平稳增长。
对于“积极的财政政策要加大力度”，要从以下方面来理解：第一，实行减税降费政策，全面实施营改增，加大收费 基金清理和改革力度，坚决遏制乱收费，减轻企业负担。第二，阶段性提高财政赤字率，2016年全国财政赤字安排2.18万亿元，赤字率为3%，在适当增加 必要的财政支出和政府投资的同时，主要用于弥补减税降费带来的财政减收，保障政府应该承担的支出责任。第三，优化财政支出结构，继续加大财政资金统筹使用 力度，创新财政支出方式，盘活财政存量资金，保障教育、科技、社保、就业、脱贫、生态等重点支出，同时减少不必要或低效的支出。第四，提高财政管理效率， 继续推广政府和社会资本合作模式，推动PPP立法，加强规范引导，培育市场发展；同时，继续督促地方政府按照预算法和国务院有关制度要求，加强地方政府债 务管理，厘清政府与市场边界，防范财政金融风险。
记者问：刚才您提到积极的财政政策中，要减税降费，请您谈谈财政部在减税方面将开展哪些工作？
答：今年2月底，G20财长和央行行长会议召开并发布联合公报，明确将尽可能采取增长友好型的税收政策。所谓增长友好型税收，就是如何能让税制更有利于释放市场活力，形成合理的企业税负，从而促进经济增长。
近年来，财政部门着力优化税制结构，完善税收功能，稳定宏观税负，推进依法治税，积极推进增值税、消费税、个 人所得税、资源税等各项税制改革。同时，为发挥税收的宏观调控功能，整合完善产业优惠政策体系，实施了一系列支持小微企业发展的税费减免政策，完善了支持 民生和创新领域的税收优惠政策。
作为财税体制改革的重头戏，营改增前期试点已逐步扩大到全国范围的交通运输业、电信业、邮政业和部分现代服务 业，并取得了积极成效。从今年5月1日起，我国将全面推开营改增试点，将试点范围扩大到建筑业、房地产业、金融业、生活服务业，并将所有企业新增不动产所 含增值税纳入抵扣范围。此外，逐步推进综合与分类相结合的个人所得税改革，全面推开资源税从价计征改革，落实鼓励企业创新的财税政策，继续配合做好船舶吨 税、环境保护税等立法工作。
记者问：金融领域一直受到国际评级公司高度关注，请您谈谈财政部门在金融方面开展了哪些工作？
答：金融是现代经济的核心，完善的金融体系能够以市场化的方式，有效提高资源配置效率，促进实体经济发展。但 是，金融领域的风险也会对经济产生明显的负外部性，尤其是系统性金融风险波及面广，隐蔽性、脆弱性、传染性强，具有准公共性的特征。对于如何发挥金融支持 实体经济的作用，防范系统性金融风险，各国财政部门始终保持高度重视。
近年来，财政部主动采取或配合有关部门实施了多项措施，共同守住不发生系统性区域性风险的底线，支持实体经济 发展。在深化国有金融机构改革方面，不断完善国有金融机构公司治理，推动建立现代企业制度，支持符合条件的国有金融机构在境内外发行上市，增强自身实力， 健全风险管控等各项制度，强化激励约束机制，增强机构活力和竞争力。在支持普惠金融发展方面，通过税收优惠、补贴奖励、贴息等措施，以财政资金“四两拨千 斤”的杠杆优势，撬动金融资源重点“支农、支小、扶弱”，促进解决“三农”、小微企业和弱势群体融资难、融资贵问题。在建设金融风险防范机制方面，支持设 立证券投资者保护基金、期货投资者保障基金、保险保障基金，支持建立存款保险制度，打造了一张市场化的金融风险防护网，为投资者权益提供了有力保障。
在当前的形势下，为了营造经济稳定增长的良好金融环境，财政部门将继续支持金融体制改革，纵深推进现代金融企业制度建设；同时，坚持底线思维，持续关注和防范金融信贷风险和企业债务风险，更好地发挥金融支持实体经济的作用，促进经济平稳健康发展。
责任编辑：茅敏敏 SN184
文章关键词： 信用评级 财政部
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