CCTV News: Recently, the General Office of the CPC Central Committee and the General Office of the State Council issued the "Special Action Plan to Boost Consumption", deploying 30 key tasks in 8 aspects. To increase and reduce the burden on residents and boost consumption from the source, this "Plan" puts the "Enhancing Urban and Rural Residents' Income Increase" first. In addition, in what aspects will it focus on boosting consumption? How can we solve the problem of consumer structure from the source? "News 1+1" connects with Tian Xuan, dean of the National Institute of Finance at Tsinghua University, to bring analysis and interpretation.

What does it mean to promote a reasonable growth in wage income? How to achieve it?

Tian Xuan, Dean of the National Institute of Finance, Tsinghua University: In addition to scientifically and reasonably raising the minimum wage standard, the "improving the normal wage growth mechanism for workers" mentioned in the government work report is not in conflict and contradiction. For ordinary people, of course they hope that wages can rise, but a reasonable wage growth mechanism should be scientific and sustainable. It must cover all workers, and of course it will cover more low-income workers.

Especially, the wage growth rate is appropriately tilted towards low-income groups, so as to narrow the growth gap as much as possible. The growth of wage income should also be ensured to ensure reasonable distribution, so that growth can be sustainable. For example, in enterprises, it should be linked to labor productivity. Not only do those who work harder and those who are more rewarded, but those who are more skilled will receive more rewards and those who are innovators will receive more rewards, which will form a reasonable distribution mechanism.

At the same time, we must better protect the legitimate rights and interests of workers. Overtime culture is a great infringement on the legitimate rights and interests of workers. This action plan also specifically mentioned that we must strictly implement the paid annual leave system, which can better improve and guarantee a reasonable wage growth mechanism.

Broaden property income channels. How to take multiple measures to stabilize the stock market?

Tian Xuan: Residents' income is more about wage income. In the future, an important tool to expand property income is the "stock market". The rise and fall of the stock market is related to the people's "wallets". The Central Economic Work Conference and the Government Work Report also repeatedly emphasized that to stabilize the stock market, it is actually to keep the people's "wallets" and thus expand consumption. I think there are several points that need to be done well:

To make the stock market have a "slow bull", "long bull" and "healthy bull", the most important thing is to improve the quality of listed companies, improve the level of corporate governance, and make the underlying assets have good fundamentals.

There are also many supporting systems to ensure that the best assets are traded in the secondary market. There must be an issuance system to allow good companies to go public; there must be a sound delisting system to allow bad companies to delist; there must also be a good trading system and long-term capital to enter the market, which can help the growth of innovative companies.

We must also crack down on financial fraud in the capital market and illegal share reductions of shareholders of listed companies in accordance with the law, so as to create a good capital market ecosystem and ensure that the people's property income has a significant increase.

Stable the stock market and the real estate market, the focus is different

Tian Xuan: Although the stock market and the real estate market are put together in the Central Economic Work Conference, including the government work report, the logic behind it is actually different. The stock market is related to the people's money bags, but it is actually a concept of growth. It is more of a property or investment income. This government work report also specifically proposed that more safe, comfortable, green and smart houses should be built, and more emphasis is placed on the house for living, and not the investment attributes of the house.

Of course, houses are also very important. If housing prices keep falling, it will cause the people's existing wealth to shrink. Therefore, the central government has also introduced a series of policies to stabilize the property market, including reducing loan interest rates and reducing down payment ratios. Many cities have canceled purchase and price restrictions, so that the market can play a decisive role in the resource allocation of the property market. In first- and second-tier cities, we see signs of stabilization and recovery in the property market. So I think although the stock market and the real estate market are put together, their positioning is different, their development path is different, and their focus is also different.

How to better implement parenting subsidies?

Tian Xuan: Now many provinces are exploring and implementing the birth subsidy system at different levels. Parenting is indeed a very important concern in the field of people's livelihood. I think when introducing childcare subsidies, local governments should still adapt to local conditions and provide targeted childcare subsidies based on local consumption habits, regional differences, and family structure.

For parenting insurance, I think rural personnel should be covered, and more should be raised to increase the standards and coverage of insurance and narrow the gap between urban and rural parenting insurance.

Another important task is to do a good job of publicity. Objectively speaking, in rural areas, many people do not know that there is an insurance such as parenting insurance. To make it better implemented, publicity is also very important.

We must also increase investment in grassroots rural medical resources and improve the level of medical services.