Ma Yu pointed out: "At present, China's economy is facing a grim situation, especially in manufacturing, and it has encountered unprecedented difficulties." Compared with China's previous economic downturns, such as the 1997 Asian financial crisis and 2008 After the international financial crisis, this time it was even more difficult. Domestic and foreign capital is fleeing manufacturing, and a manufacturing crisis has already emerged. "Undeveloped first hole" has become a fatal hidden danger to China's economic development. "This situation occurs, although there are objective market factors and international constraints, but the main reason lies in deep-level institutional factors."
He believes that inappropriate and excessive government regulation has greatly hindered the release of market vitality, increased the cost of production factors, and reduced the efficiency and effectiveness of resource allocation. The rapid development of China after the reform and opening up has opened the source of growth through reform and opening up. Therefore, he believes that out of the predicament this time, "it is necessary to comprehensively deepen reform and further expand opening up."
However, this reform and opening-up has encountered unprecedented resistance. At present, the comprehensive deepening of reform is facing four major difficulties: legal difficulties, institutional difficulties, market difficulties and path difficulties. The dilemma of the law is that many competent authorities have passed legislation to solidify these unreasonable management concepts, management systems and management measures in the name of "law". The difficulties of the system are due to the entanglement of interests in self-reform; the difficulties of the market are caused by deep-rooted mistrust in the market: our major economic and social contradictions, so far, are far from being caused by excessive market forces and unsolvable market forces. It is precisely because the government does not trust the market and deeply intervenes in the market; the difficulty of the path is because of the hard middle isolation layer.
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