王小鲁：不赞成刺激消费的提法

Group 1 - Current consumer demand is weak, with final consumption accounting for only 53% of GDP and household consumption at 37%, indicating a serious underconsumption issue [1] - Private investment is stagnant due to concerns over a fair competitive environment and insufficient confidence in future prospects among private enterprises [1][2] - Structural monetary and credit policies aim to support the real economy and improve financing conditions for small and micro enterprises, but often fail to be effective due to systemic issues [1][2] Group 2 - The financial market remains dominated by state-owned banks, making it difficult for small enterprises to secure loans, despite many being financially sound [2] - The rise of internet finance and big data analysis offers potential solutions to reduce loan risks for small enterprises, but regulatory frameworks need to be improved [2] - A more open financial market is necessary, along with fair competition principles to ensure equitable treatment of all enterprises [2][3] Group 3 - The transition from a planned economy to a market economy has highlighted the importance of fair competition for efficiency and motivation for development [3] - Recent trends show that monopolistic state-owned enterprises are seeing profit increases while competitive private enterprises are struggling, indicating an unfair competitive landscape [3][5] Group 4 - The disparity in operating conditions between monopolistic state-owned enterprises and competitive small enterprises is significant, with state-owned enterprises holding a disproportionate share of assets and liabilities [6] - The profitability of state-owned enterprises is primarily concentrated in monopolistic sectors, while competitive sectors still see lower efficiency compared to private enterprises [6] Group 5 - The current economic environment negatively impacts employment, which in turn affects consumer spending, making the health of the private economy crucial for overall economic growth [6][7] - Stimulating consumption is ineffective if consumers lack the ability or confidence to spend; addressing underlying issues such as unemployment and social security is essential [7][8] Group 6 - Active fiscal policies should focus on addressing long-standing social issues rather than merely increasing government investment in potentially inefficient projects [8][9] - Prioritizing spending on social welfare can lead to improved consumer confidence and spending, ultimately driving economic growth [9]