Hundreds of billions of investment options in the stock market impact of geometric

National Development and Reform Commission Zhang Ping said that so far, in the fourth quarter of 2008, the new central 100,000,000,000 yuan has been invested into the project in general, "has now issued more than 40% of the plan." The same day this reporter was informed that the exclusive, which 100,000,000,000 yuan of investment, has been refined to specific areas of each, and a clear allocation of the investment amount, distribution and in the field of major construction tasks. Although the Chinese government is a large-scale fiscal stimulus program of the first shot, but "Gangjumuzhang", the above-mentioned areas over the next two years led the government to invest 4 trillion in the direction from which people can see that the Government or the future financial 4,000,000,000,000 Stimulate the implementation of the program's focus. Financial Science Institute in the Ministry of Finance Liu Shangxi, deputy director of the eyes of the Chinese government's new pro-active fiscal policy and in 1998, not only larger, wider, faster, and investment in the direction of the people's livelihood has obvious tendency. 100,000,000,000 detailed list of investment Zhang Ping, the current central government 100,000,000,000 yuan of investment, direction have been identified. The main areas: security and housing, livelihood projects and rural infrastructure, agriculture, railways, highways, airports and other infrastructure construction, education, health and other social cause, the ecological environment, independent innovation and structural adjustment, as well as post-disaster recovery re - Building. Zhang Ping said that the new 100,000,000,000 yuan in the fourth quarter of the investment arrangements for the central principles: One is to speed up construction projects in progress; in the second, preliminary work has been completed and the project, with the choice of investment in the direction of the project; Third, arrangements for the "ten First Five-Year Plan ", as well as various special plans have been identified. According to reporters from this newspaper for information concerning the above-mentioned central 100,000,000,000 yuan investment, the current allocation of funds has been refined to protect the homes of the project 10,000,000,000 yuan, rural livelihood and rural infrastructure projects 34,000,000,000 yuan, railways, highways and airport Major infrastructure construction 25,000,000,000 yuan, health care, education and cultural development of social undertakings 13.0 billion, energy reduction and ecological construction projects 12.0 billion, independent innovation and industrial restructuring 6,000,000,000 yuan. Rural livelihood and rural infrastructure projects to become the largest area of investment. In fact, here in the field of six, each of these areas, there are more specific guidelines in the field of arrangements. The protection of homes in the area of the project will include construction of low-cost housing (including the transformation of urban squatter settlements) 75 billion, the main task of construction and the purchase of new low-cost housing; coal mine 1.7 billion transformation of squatter settlements, including the transformation of The central and western regions of the Central delegation of local coal mines squatter settlements, construction of residential quarters of the supporting infrastructure projects, the relocation of coal mining subsidence repair houses; state-owned forest squatter settlements 150,000,000 yuan renovation project, mainly for construction workers of state-owned forest areas of housing ... ... In rural areas the people's livelihood projects and rural infrastructure in areas under specific and detailed for rural biogas 3.0 billion project to build "a pool of three years to" rural households to use marsh gas, rural marsh gas in rural services network, "to build a pool of three" Cell culture and the household biogas project; rural drinking water safety engineering 5,000,000,000 yuan to solve rural drinking water safety issues; 5,000,000,000 yuan in rural highway, to expand the system in the central region of the oil-village, west of the oil-Rural 15 Specific aspects. This is more like the next two years, the Chinese government to invest 4 trillion a guide. According to Zhang Ping said, it is 100,000,000,000 involved in construction projects over the next two years, generally need to invest 4 trillion. "This year's 1,000 billion investment in our fight, but we do focus, in accordance with the 'list' to prepare for next year after reporting a specific project." Related to local government officials have told this reporter. "Investment will not form a huge amount of duplication" In fact, the Chinese Government on the future of this 4 trillion of financial investment, has acquired quite a clear allocation of funds to choose the direction and intensity. According to Zhang Ping said that under the current system of investment funds and investment arrangements for the program over the next 4 trillion in investment, the investment needs of the Central 1180000000000. This 4 trillion in home-protection project is 280,000,000,000; rural livelihood and rural infrastructure projects in general is 370,000,000,000; railways, highways, airports, power grids in urban and rural areas is 1,800,000,000,000; health, culture and education is 40,000,000,000; ecological This investment environment is 350,000,000,000; independent innovation is the structural adjustment 160,000,000,000; the post-disaster reconstruction, is the worst-hit 1 trillion. "4 trillion yuan of investment there is no large-scale investment in production capacity, not 'one of the two high-owned' investments." Zhang Ping said that the 4 trillion yuan of investment is in fact the whole society to invest. "Will not repeat the formation of the building, nor will it form a low-level redundant construction." Zhang Ping said that in 2007, the total investment in fixed assets of more than 13 trillion yuan, is expected in 2008 to more than 17,000,000,000,000 yuan, in 2009 20,000,000,000,000 yuan or so. According to the National Development and Reform Commission estimated that investment in this 4,000,000,000,000 yuan each year to promote economic growth of about 1 percentage point. With regard to the community on the issue of corruption, fear, to respond to Zhang Ping Road, in the arrangements for the investment, but also to consider how to prevent this problem from happening, that is to implement the responsibility to clear the main responsibility; according to adhere to the procedures, operation of the sun; and We should strengthen supervision and inspection. To this end, the government has organized 24 inspection of the Central Group, each of the inspection team headed by a vice ministerial-level leading cadres were dispatched to various provinces to strengthen supervision and inspection, each province will take the same approach to strengthen supervision and inspection. With regard to invest in some "old faces" is not able to play a new investment and stimulate economic growth in the role of the doubt, Zhang explained that the choice of a number of projects and preliminary work has been completed and the project is "fast, In order to associate ", is not the role of" old faces, new faces to the measure. " Zhang Ping to low-cost housing construction as an example the problem. This year the central government arranged the original 20-billion-dollar investment, can be used to subsidize about 200,000 or so low-rent housing. Now there are about 10,000 cities and towns more than 700 low-income families need to address the housing problem, according to the progress of the original need a longer time. 100,000,000,000 yuan in new investment arranged 7.5 billion for low-cost housing construction and is expected to significantly speed up the process. Or lay a solid foundation trillion national debt funding needs It is understood that the relevant decision-making departments are currently considering the next two years after the issuance of long-term construction treasury bonds of the Central 500,000,000,000, a total of two additional 1 trillion national debt, the Central 1,180,000,000,000 constitute the main body of investment funds. Although this line of thought but also in the final in March 2009 on the two country's can be confirmed eventually, but now, both from a policy tool to raise funds, the use of funds, the idea that the Chinese Government seems to be repeated 1998 Asian financial crisis of the story. 1998 Asian financial crisis, the Chinese government to issue special long-term construction treasury bonds to promote the deficit for the financial characteristics of the timely start of the proactive fiscal policy, as of 2007, to issue a total of 1,080,000,000,000 yuan special treasury bonds. However, the financial research institute of the Ministry of Finance Liu Shangxi, deputy director of the eyes of the Chinese government's new pro-active fiscal policy and in 1998, not only larger, broader, faster and at the same time also underlines a new trend . Liu Shangxi pointed out that the fiscal stimulus from the current six major investment, security and housing, livelihood projects and rural infrastructure, agriculture, education, health and other social cause, the ecological environment in four areas of investment, have a clear public The characteristics of the expenditure, accounted for more of the public finances is a necessary and public projects. The railway, highway, airport and other areas of investment, although the market can be a part of the way to attract private capital participation, but as a whole is still owned by the investment in infrastructure, and thus most of the need to pay the Government, through the help of public expenditure in order to boost the Private consumption expenditure. "This will reduce the government taking over-crowding and market the probability of occurrence of the phenomenon." Liu Shangxi said. However, Liu Shangxi also expressed their own concerns. On the one hand, the current investment system, the examination and approval system, Liu Shangxi worried bond investment arrangements for the "grassroots" phenomenon is difficult to avoid. 1998-1999 statistics show-2002 to arrange local financing of the total national debt as a proportion of investment 70.4 percent, more than 30,000 projects involving a total investment capital 105,470,000,000 yuan of treasury bonds. On the other hand, revenue fell to speed up the situation, Liu Shangxi resolve to remind policy makers in the field of economic risk at the same time, we should also pay attention to preventing an even greater risk. Liu in view, the fiscal deficit is a "double-edged sword", the Government through the issuance of long-term construction treasury bonds in particular the way large-scale distribution of resources will help drive consumer confidence in the people. However, if the end can not really pull domestic consumer demand, while government debt rose sharply to form a burden, but will drag on economic growth in the future. "This is a war we can win, not lose." Liu Shangxi said.