The Definition of the Real Economy, the Virtual Economy and the Bubble EconomyWe think that the key to distinguish them lies the nature of economic activity. We should figure out whether it can provide useful products and services for human production and consumption, and ultimately create social wealth.The Causes and Manifestations of the Difficulties Encountered in the Development of the Real Economy1. Many sectors of the real economy have appeared serious overcapacity, and the proportion of the bubble economy remains high.2. The manufacturing industry only grows in scale, but not in quality.3. The virtual economy breaks away from the real economy, and circulates itself without promoting the real economy. The accumulation and expansion of the bubble imply a potential financial crisis.4. The development of emerging industries and traditional industries is separated, and the new kinetic energy fails to effectively drive the old sectors.Ideas and Measures to Revitalize the Real Economy1. We should optimize the allocation of stock resource and squeeze out the surplus water in the real economy with market means as the mainstay and administrative means as the support.2. We should build a technological innovation system with enterprises as the mainstay, market as the guidance and deep integration of industry, university and research as the support.3. We should make the best use of the Belt and Road Initiative, and build the global value chain and innovation chain based on domestic market under the pattern of comprehensive opening-up.4. We should accelerate the cultivation of multi-level capital market, and realize the positive interaction between the virtual economy and the real economy.5. We should promote the coordinated development between emerging industries and traditional industries with informatization and intellectualization as the key point.
