How to solve the impact on the wealth of low- and middle-income families under the epidemic?Expert interpretation

How to solve the impact on the wealth of low- and middle-income families under the epidemic?Expert interpretation
On April 21st, the China Family Finance Survey and Research Center of Southwestern University of Finance and Economics and the Research Institute of Ant Financial Services Group jointly released the “Trend Trend of Chinese Family Wealth under the Epidemic Situation-China Household Wealth Index Survey Report (2020Q1).It is reported that the investigation time of this report is February 21 this year?On March 10th, the quotation is mainly issued to active users of Alipay. Compared with the fourth quarter of 2019, 100 is unchanged. A value greater than 100 means an increase, and a value less than 100 means a decrease.The report shows that the epidemic has transmitted shocks to low- and middle-income families.Is the annual income before tax less than 50,000 (inclusive) and less than 50,000?The coefficient of the stability index of domestic work in the 100,000 range is only 69 respectively.1 and 88.5. The work stability of families above 300,000 yuan has not been affected, reaching 105.2.At the same time, the above two groups also showed that their income was affected by the impact of the epidemic, but their expenditures were rising rapidly.Among them, the household wage income index and daily expenditure index of annual income before taxation of less than 5 million were 62 and 128, respectively.6; at 50,000?The index for households in the 100,000 range is 85 respectively.1 and 125.4.The report also said that in the context of the improvement of the epidemic, household savings are expected to continue to rise, more than half (50.2%) households will reduce consumption and increase savings, only 9.4% of households reduce savings and increase consumption. If there is no large-scale policy to stimulate consumption, the second quarter of “retaliatory” consumption may not be high.Jia Kang: The main focus of the multi-pronged approach is to support the disadvantaged groups first. The director of the China Academy of New Supply Economics Jia Kang said that under the impact of the epidemic, the most severely affected are the lowest income class and second only to the lowest income class.Of freelancers, therefore, our policy orientation is precisely in the central government to highlight the protection of people ‘s livelihood and employment, and we must focus on the group of low-income and freelance and flexible employment, they are the most worthy of consideration to give the necessaryTo support and support members of society, of course, we need to do a multi-pronged approach to form a systematic project using a variety of means, and the first priority is to support the bottom and help vulnerable groups.Li Zhenhua: At present, there is a lack of good channels to direct central funds to support individual households, such as the executive director of the Ant Financial Services Group Research Institute, Li Zhenhua said that the income of low-income families, freelancers, and individual households is affected by the epidemic.Because a large number of them are self-employed, operating some small shops, or other business entities, their return to production is not in good condition, which affects their income.For this group of people, the reduction may need to support them to alleviate the liquidity problem; the second aspect, the most fundamental thing is to improve their resumption of production and production, provide adequate credit fund support, accelerate the resumption of production, and stimulate consumptionWay to increase turnover, so as to fundamentally ease the impact of the epidemic on them.In fact, relevant UN departments have issued a document to support small and micro enterprises and individual businesses.For example, stipulating that policy banks will increase a special credit line of 350 billion yuan to issue to private, small and medium-sized enterprises at a preferential interest rate; increase the re-loan and rediscount amount of 500 billion U.S. dollars, mainly for small and medium-sized banks to increase credit support for small and medium-sized enterprises.All are good measures.However, for micro-enterprises and individual industrial and commercial households, in fact, there is still a need to have a very good channel to reach the policy of the central and financial regulatory authorities to reach a decline. Under the current circumstances, there is still a lack of good channels to control the central governmentThe funds are directed to support them, because they are too small, and are often not the services of ordinary banks, and it is difficult to know what their needs are.Li Hongbin: Ensuring the employment of low-income people is the top priority. Li Hongbin, a senior expert at the Institute of Economic Policy of Stanford University, said that the epidemic has hit the low-income people very hard, but the marginal consumption possibilities of low-income people in any economy are the highest.It may cost eight cents to give him a dollar, but he may spend very little to give a millionaire 10,000 yuan, because he no longer needs to spend it, so the marginal consumption of low-income people is the highest.From a policy perspective, if the employment of low-income people is guaranteed and their income guaranteed, the average consumption of the country will be increased even more.Therefore, ensuring the employment of low-income people is a top priority.These people are mainly employed in small and medium-sized enterprises. The specific policies (to protect small and medium-sized enterprises) are nothing more than tax reductions, social security reductions, and even government subsidies. If such enterprises give them continued employment, the government can give appropriate supplements.Sauna, Ye Wang Pan Yichun Editor Li Weijia Proofreading Li Ming