·中国的产能过剩既存在于以钢铁、水泥、多晶硅等为代表的中上游工业制造业和以部分机械制造行业为代表的中下游工业制造业,同时在以高速公路、高速铁路和城市轨道交通为代表的基础设施行业也有所体现。而除了一般意义上的产能利用率和产销率较低以及出口贸易摩擦频发,与我国产能过剩并存的,是进口需求旺盛、产品价格稳中有升以及行业盈利能力不降反升等独特现象。·除了通常意义上导致产能过剩的原因外,中国产能过剩问题的独特、深层次成因在于:生产要素价格偏低且定价机制不合理;投资和消费两大需求结构失衡,企业在产能过剩情况下仍有利可图;投资的行业结构不尽合理,投资主体结构失衡。其中,投资结构和主体失衡是核心的深层次原因。·与传统经济学理论和成熟市场经济体的表现不同,中国的产能过剩同时伴随着通胀压力难以消减并极易出现攀升。通胀压力上升主要受制于原材料价格和食品价格,其根源在于投资高速增长及投资结构的失衡。·在后危机时代,主动、稳步地加快对“不合理的经济发展方式”的改革和调整,显得十分重要和紧迫。首先,通过农村投资、加大“走出去”力度、推进行业兼并重组以及加大技术创新、提升产品结构来消化过剩产能,并最大限度地减少新增过剩产能;其次,稳步加快资源要素产品价格机制改革,其三,通过差别化政策大力改善投资结构;其四,加快收入分配制度改革;其五,深化投、融资体制改革。从根本上说,无论是投资结构优化还是投资主体多元化,归根结底都需要以加快制度创新和机制改革为依托。 • China’s overcapacity exists both in the middle and upper reaches of the industrial manufacturing industry represented by steel, cement and polysilicon, and in the middle and lower reaches of the manufacturing industry represented by some of the machinery manufacturing industries. Meanwhile, in terms of highways, high-speed railways and urban rail transit The infrastructure industry represented is also reflected. In addition to the general sense of low capacity utilization rate and production and sales rate and the frequent occurrence of trade friction with the export coexistence with excess capacity in our country is the unique phenomenon of strong demand for imports, steady rise in product prices and industry profitability rise and fall . Except for the reasons that cause overcapacity in the usual sense, the unique and deep causes of overcapacity in China lie in the low price of production factors and the unreasonable pricing mechanism, the unbalanced structure of the two major demands for investment and consumption, and the overcapacity of enterprises in overcapacity Still profitable; investment in the industrial structure is not reasonable, the main imbalance in the structure of the investment. Among them, the imbalance between the investment structure and the main body is the core of the deep-seated reasons. Unlike traditional economic theory and the performance of mature market economies, China’s overcapacity is hard to diminish and vulnerable to rising inflation pressures. Inflationary pressures are mainly due to raw material prices and food prices, the root causes of rapid investment growth and investment imbalances. In a post-crisis era, it is very important and urgent to actively and steadily speed up the reform and adjustment of the “unreasonable mode of economic development.” First of all, through rural investment, we should step up efforts to “go global”, promote industry consolidation and reorganization, and increase technological innovation to enhance product mix so as to absorb excess capacity and minimize newly added excess capacity. Second, we will speed up the pace of resource optimization Thirdly, the investment structure should be greatly improved through differentiated policies. Fourth, the reform of the income distribution system should be accelerated. Fifth, the reform of investment and financing systems should be deepened. Fundamentally speaking, both the optimization of investment structure and the diversification of investors should ultimately rely on the acceleration of institutional innovation and institutional reform.