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One-size-fits-all not right approach for economy

Presiding over a meeting of top officials of some local governments in Shanghai recently, Premier Li Keqiang urged local authorities and relevant departments to create a favorable environment for the development of market entities, and not adopt a one-size-fits-all approach.

Since the beginning of this year, the Chinese economy has maintained steady growth. However, the economy still faces some uncertainties at home and abroad that could affect development.

This calls for more comprehensive and effective measures after taking into consideration all the difficulties faced by the economy. In fact, the Shanghai meeting called on local and relevant departments to adopt economic policies and measures based on real conditions and avoid a one-size-fits-all approach.

This is the right approach. Whenever an economy faces downward pressures, market players want economic policies and measures that are scientific, precise and development oriented. They should take into account whether or not the policies address the problems faced by enterprises.

As the year draws to a close, it is even more necessary to prevent some local governments and departments from taking extreme measures just for the sake of pursuing good-looking assessment indicators.

The one-size-fits-all approach and the campaign-style carbon emissions reduction policies of some local governments have not only disrupted power supply and heating this winter, making people’s lives difficult, but also hindered the normal production and operation of enterprises.

The National Development and Reform Commission and four other departments recently said that local governments should take measures to ensure the stability of the industrial and supply chains and the smooth operation of the economy and society, and promote energy-saving technologies and reduce carbon emissions in an orderly manner.

Local governments and departments also need to strike a balance between effective epidemic prevention and economic development when introducing policies. A one-size-fits-all approach is not conducive to achieving win-win results.

Given the challenges faced by the country, there is also no room for a trial-and-error approach when it comes to social development. So policies and measures should be formulated and implemented based on actual conditions. Only in this way can a good environment be created for the development of market entities.
Source: China Daily

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