Lang Xianping: The Chinese Version Of The Marshall Plan Is The Best Solution.

Although the Chinese version of the Marshall plan has not been officially recognized, we can see from the above important strategies.

Why is this important step related to the excess capacity of China's economy and the promotion of RMB internationalization? How should it be implemented? In my book "Lang Xianping: a headaches", from the macro to the micro level, I analyze in detail the important issues of epochal significance.

The following is an excerpt from the body part of the book for readers.

In the case of internal and external troubles, how should private capital flow out of the manufacturing industry to maintain value and increase value? According to my observation, a small portion of them has become the principal part of private lending, and a larger part has entered the real estate market.

So we can see that in the past 10 years, our housing prices have been soaring, and the 43 real estate regulation policies launched by the government here are not feasible.

Why? Because the root cause of the property market is manufacturing crisis, and more precisely, private enterprises can not survive.

This has evolved into a key proposition that saving the manufacturing industry can save our poor real economy and the real estate industry.

I think the key point is the improvement of business environment, and the most effective way should be tax reduction.

In 2011, Shanghai took the lead in pilot business tax instead of VAT. In April 2013, the State Council decided to further expand the scope of the business tax to VAT.

It is unfortunate to tell you that our tax reform has not brought much benefits to private enterprises.

According to my research, the increase in Shanghai camp has basically done little tax reduction for small businesses with annual turnover ranging from 60 thousand yuan to 800 thousand; and 800 thousand, between large enterprises, the so-called small and medium-sized enterprises, basically did not get any tangible benefits.

Who are the biggest beneficiaries? They are state-owned enterprises or large enterprises such as Eastern Airlines, Haibo shares and Jinjiang investment.

Let's talk about the common people.

In June 2013, "money shortage" swept through our commercial banking system.

Why is there "money shortage"? The plain statement is that the central bank refused to inject liquidity into the banking system in the first place as it used to, resulting in the lack of money in the hands of commercial banks.

But is it not enough for us to expand to 100 trillion of M2? Let's tell you that if this financial resource is allocated rationally, there will be more than enough.

But the reality is that, because of the large-scale investment plan, as well as trust and other shadow banking channels, leading to a large amount of bank loans into the "iron, public, base" construction projects, local government financing platform companies, large state-owned enterprises, or even real estate developers, what is the result? Once the funds are involved, in the short term, it is difficult to return to the cage or even the risk of bad debts.

When the money is tight, if the central bank fails to rescue, commercial banks will become "money shortage".

In view of this, "money shortage" is a "trick" played by the central bank and commercial banks. It is difficult for private enterprises and ordinary people to participate in it. But the panic and crisis caused by "money shortage" are "shared by all."

What does that mean? The people first worry about their own money in the bank, and at the same time worry that if China's stock market's heavyweight bank collapses, they will suffer from the fish in the pond.

This is the sorrow of being a "two class citizen" without the right to participate, but it must bear the consequences.

And frankly speaking, our people have always been insecure in terms of asset maintenance.

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I must clarify a common misunderstanding with you here, that is, our ordinary people really do not have the money in the legend.

Guo Shuqing, who was then chairman of the securities and Futures Commission in June 2012, said at the Lujiazui financial forum that China's savings rate is 52%.

But in fact, the distribution of our deposits is very uneven. The average population accounts for 90% of the population. The average deposit per person is actually only 7000 yuan.

As a citizen of the world's second largest economy, why do most people deposit so little money? Because first, there is no enough source of income. Second, there is no good investment channel for the ordinary people, so that they can earn money.

In such an embarrassing and cruel situation, we ushered in the stock market.

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I have emphasized in the past that the United States government will benefit from the healthy stock market and benefit the people who buy shares, so as to realize the "wealth of the people".

So how do we reform our stock market? I think our commission is more inclined to strengthen its management than to create a sound stock market system.

I must remind our government that under the circumstances of the limited ability of the SFC itself, the strict regulation is actually a mess without changing the system of distorting the supply and demand structure of the stock market.

What is needed in our stock market? It is an effective mechanism that allows stocks to move forward and retreat freely. It is a long-term mechanism that can completely eliminate insider trading and enforce corporate dividends. Only these policies can really benefit people's investment.

Another hangover in the long bear market is that our private capital is desperate to find investment opportunities.

For example, when the global gold price plummeted, the common people hoped to buy it through "copy the bottom" to realize the preservation and appreciation of assets.

This dramatic story happened in April 2013, and the media gave it a loud name, called "China's aunt fight Wall Street."

The end result is that the Wall Street is short of money, and many of our ordinary people have experienced the operation level of international investment at the cost of real gold and silver.

But what I am more concerned about is whether the "two class citizens" in the domestic financial market can get some investment experience; whether our government really is just hanging around the matter without drawing any new ideas that are conducive to China's financial reform.