中国新型城镇化去杠杆问题研究综述

A Review of Studies on China’s New Urbanization and De-Leverage

改革开放以来,城镇化水平的快速提升是支撑我国经济增长的重要内生因素,但粗放型城镇化推进模式对经济增长的贡献已经走到了瓶颈期,亟待新型城镇化模式的创新来规避传统模式的弊端并引领新一轮中国经济高质量发展。通过新型城镇化“去杠杆”操作为供给侧结构性改革注入新的内容,为探索中国经济高质量发展的路径提供了可能。本文综述了新型城镇化去杠杆的相关文献,认为:(1)可以从宏观、中观、微观三个层次上界定新型城镇化下如何更好地去杠杆;(2)摒弃“粗放型城镇化”,调整宏观“去杠杆”的着力点;(3)中观上以继续推动基础设施建设与化解政府债务风险为双重目标推动地方政府部门去杠杆;(4)微观上从推动个人“市民化”的角度考虑居民杠杆率与城镇化发展住房问题。通过综述三个方面的内容,有助于我们整体把握新时代推动新型城镇化与去杠杆之间的关系,为二者的研究找寻一个新思路。

since the reform and opening up, the rapid increase of urbanization level is an important endogenous factor supporting China's economic growth. However, the contribution of the extensive urbanization promotion model to economic growth has reached a bottleneck period, and it is urgent to innovate a new urbanization model to avoid the shortcomings of the traditional model and lead a new round of high-quality development of the Chinese economy. Inserting new elements into the supply-side structural reform through the new urbanization "de-leverage" operation, it is possible to explore the path of China's high-quality development. This article reviews the relevant literatures on new urbanization deleveraging, and argues that:(1) For better deleveraging under the background of the new urbanization, It can be defined at three levels: macro-level, middle-level and micro-level;(2) Abandon the "extensive urbanization", adjust the focus of the macro "de-leverage";(3) From middle-level: to promote the infrastructure construction and resolve the government debt risk as a dual goal to promote local government departments to leverage;(4) Micro-promoting individual "civilization From the perspective of considering the leverage ratio of residents and the housing development of urbanization. By reviewing the contents of the three aspects, it helps us to grasp the coordinated development between the new urbanization and deleveraging in the new era, and find a new research.