Quoted by the People's Daily! From the "excavator index" to see the economic rebound!

Recently, the "People's Daily" published a commentator's observation article "Expanding Profitable Investment", which quoted the "CCTV Financial Excavator Index", reflecting the steady improvement of domestic infrastructure and the active expansion of effective investment.

Based on the data analysis of the working condition of massive equipment, the daily operation volume and operating rate of construction machinery can be classified and calculated, and the dynamic trend of the index can help analyze the changes in the heat of infrastructure investment in various provinces and cities across the country, and has become a vane reflecting the economic changes in infrastructure construction and observing fixed asset investment.

Original report

In the north and south of the river, the construction of major projects is progressing in an orderly manner, and there is a hot atmosphere. The first major project of the follow-up project of the South-to-North Water Diversion Project, the project to divert the river to supplement the Han River, has entered the stage of full construction, with a total static investment of 55.158 billion yuan; Fengtai District, Beijing officially launched the construction of Hexi Ecological Science and Technology Innovation City, focusing on 46 major projects, with an estimated total investment of more than 50 billion yuan...... All regions and departments have stepped up efforts to grasp projects, expand investment, stabilize growth, and boost confidence in development.

Giving full play to the key role of effective investment is an important starting point for promoting a sustained economic recovery. According to the latest data released by the "CCTV Financial Excavator Index", the operating rate of construction machinery in the country will be 58.57% in 2023, and the construction of various infrastructure will be stable and improving. In 2023, gross capital formation will drive economic growth by 1.5 percentage points, contributing 28.9% to economic growth. While effective investment is actively expanding, the investment structure is also constantly being optimized. Last year, China's investment in high-tech manufacturing and high-tech services increased by 9.9 percent and 11.4 percent respectively over the previous year, and important results were achieved in the construction of a modern industrial system that promotes industrial innovation with scientific and technological innovation and builds new competitive advantages through industrial upgrading. Practice has proved that expanding effective investment can create effective demand in the short term and improve the quality of supply in the medium and long term, which is an effective way to focus on expanding domestic demand and an important support for speeding up the construction of a modern industrial system. Today's investment is tomorrow's "competitiveness". By expanding productive investment and speeding up the cultivation of new-quality productive forces, we will be able to unleash the potential of domestic demand and further consolidate and enhance the positive trend of economic recovery.

Consumption and investment are mutually reinforcing. To focus on expanding domestic demand, we must better coordinate consumption and investment. Whether it is vigorously developing new consumption such as digital consumption, green consumption, and healthy consumption, or actively cultivating new consumption growth points such as smart home, cultural and entertainment tourism, sports events, and domestic "trendy products", it is necessary to promote investment in related industries and consumption scenarios. These investments are often in new fields and new tracks, which are conducive to enhancing the core competitiveness of the industry, strengthening the resilience of the industrial chain and supply chain, and accelerating the formation and growth of new development momentum. By expanding profitable investment in supporting key core technologies, promoting the development of strategic emerging industrial clusters, accelerating the construction of new infrastructure, and vigorously developing the digital economy, we can form high-quality supply and create effective demand, which not only meets the people's growing needs for a better life, but also continuously shapes new development momentum and new advantages.

To expand profitable investment, it is necessary to clarify both "where the money goes" and "where the money will come from." It is necessary to make good use of government investment such as the issuance of additional treasury bonds, investment from the central budget, and special bonds of local governments, and it is also necessary to give full play to the amplifying effect of government investment and arouse the enthusiasm of nongovernmental investment. It is necessary to deepen the reform of key areas, improve the investment and financing mechanism, focus on strengthening service guarantees, promote the reduction of investment and financing costs, and fully stimulate the endogenous power and innovation vitality of various business entities. It is also necessary to formulate and introduce policies and measures to promote private investment, implement new mechanisms for public-private partnerships, support social capital to participate in the construction of new infrastructure and other fields, and encourage private enterprises to make greater contributions to building a new development pattern and promoting high-quality development.

Investment is not only a vane for development, but also a booster for growth, and a ballast stone for resisting risks and mitigating volatility. This year is a crucial year for achieving the goals and tasks of the 14th Five-Year Plan. Anchoring the goal of building a modern industrial system, accelerating the implementation of major engineering projects, supporting enterprises to carry out key core technology research and technological transformation and upgrading, expanding effective investment in the manufacturing industry, and promoting the formation of physical workload as soon as possible, more "effective investment" will better support the expansion of domestic demand and more effectively promote the steady and long-term development of the economy.