Youguo proposed four bills at the plenary congress, and whether the head of state had memorized the memorial.

Even ordinary people can think that if Ji Youguo seeks re-election, they will first ask Pang Xinglong to submit the 20177 central fiscal budget, then elect a new national leader, and then propose four bills of historic significance to the Republic. In this way, it will not only ensure that the four bills are successfully passed at the plenary congress, but will not have a negative impact on Ji Youguo's pursuit of re-election.

Before the third phase of the agenda began, Pang Xinglong submitted several administrative regulations.

Among these regulations, the most eye-catching one is the "Land Transfer and Government Expropriation Regulations". At that time, many people believed that Ji Youguo should implement this administrative regulations rather than Pang Xinglong. Because this regulation will clearly stipulate the government's rights and responsibilities when expropriating land, as well as the regulations that the land must comply with in the free transfer of land. Relatively speaking, this is more like a law, not an administrative regulations.

The Land Transfer and Government Expropriation Regulations can easily remind people of the raging financial crisis.

In 20166, Pang Xinglong issued the "Trial Measures for Land Acquisition and Transfer" in the form of a "State Council Order", requiring local governments to make more rational use of land instead of transferring land to developers through auctions, thereby curbing the rise in land prices and suppressing housing prices.

This method has not been implemented in detail and effectively, and almost all local governments do not support it.

Subsequently, the financial crisis broke out, and the real estate market price in the Republic fell from its historical peak, and dozens of large real estate developers in China successively declared bankruptcy. With the personal intervention of Ji Youguodi, several provincial capital cities such as Shanghai, Guangzhou, Nanjing, Hangzhou, Chongqing, Chengdu and Xi'an first implemented the new land auction method, that is, when the developers bid, they must give the house area sales price, and can only be listed and traded after all construction work is completed, and real estate cannot be sold in the form of "presumptive houses".

This policy has caused the property prices to "dip".

It is precisely because of this that + Yanbo and others entered the real estate market.

At this time, the Republic strives to suppress the real estate market with all its might. There is only one goal: to liberate residents' consumption capacity and drive the domestic consumer market.

Needless to say. This is a very visionary decision.

With the outbreak of the financial crisis, the consumer markets in Western countries, led by the United States, shrank sharply. It is impossible for the Republic to rely solely on exports to stimulate domestic economic growth.

In fact, since the outbreak of the financial crisis in 2019, the Republic has focused its economic development on the domestic market.

If you want to develop the domestic market, you must first let the people have money to use and dare to use money.

In the past few years, Ji Youguo introduced the local national medical insurance plan, the national social welfare security plan, 12 years of compulsory education, funding for poor college students and other reform measures. They are all making the people "dare to spend money" and changing the people's consumption concepts. Let more people take out the "pension money" in banks, "medical money" and "school money" to spend.

However, these policies are still not thorough enough.

Excessive housing prices have seriously suppressed the people's other consumption capacity.

If a house requires a family to spend 20 years on income, who still has the money to spend as much money as you want in terms of clothing, food, travel, etc.?

Returning real estate prices to a reasonable position is the highlight of stimulating domestic consumption.

To solve the problem of excessive real estate prices, in addition to fully citing market mechanisms, reducing the first-level resource prices, that is, land resource prices, has become the key among the keys.

To lower the land price, you have to put pressure on local governments.

The "Government Code of Conduct" and the "Administrative Expenditure Review Law" restrict the government's expropriation and auction of land, so that local governments cannot maintain high housing prices and high incomes by selling land as they do in the past. The "Land Transfer and Government Expropriation Regulations" effectively supplement these two laws and clearly stipulates the government's responsibilities and powers in expropriation and auction of land.

However, the land policy reform in the Republic is more difficult than government reform and involves more problems.

During the deliberation process, many representatives proposed that the Property Law should be implemented as soon as possible, and the Property Law should be resolved that local governments cannot obtain financial revenue through auction of land to obtain a stable source of fiscal revenue, and also laid the foundation for local governments to implement long-term development plans.

The relevant discussion lasted until March, and finally the "Land Transfer and Government Expropriation Regulations" was voted to pass.

Whether the Property Law needs to be implemented immediately, Ji Youguo left this issue to the next government.

On March 5, Ji Youguo formally proposed to the All Congress to resign from his post as head of state, and jointly elected Comrade Zhao Rundong as the head of state with Pang Xinglong and other representatives as the head of state.

On that day, the plenary congress first voted on Ji Youguo's resignation as head of state.

In the end, Ji Youguo's "resignation proposal" was agreed with unanimous approval.

On March 6, the plenary congress began to consider the proposal of "Comrade Zhao Rundong as the head of state"

According to regulations, as long as there are 50 representatives jointly elected, anyone can participate in the "competition" of the head of state.

Because there was no second candidate, the plenary congress voted on "whether to support Comrade Zhao Rundong as the head of state." In the end, under unanimous approval, Zhao Rundong was successfully elected as the seventh head of state of the Republic.

On the same day, Ji Youguo officially announced his resignation. Afterwards, Zhao Rundong was sworn in.

Because Ji Youguo was also a representative, he still attended the subsequent meeting.

On March 7, Zhao Rundong submitted a list of major leaders of the State Council to the all congress. Except for Pang Xinglong who still served as Premier of the State Council, only 211 major cadres, including 3 deputy prime ministers, 27 ministerial-level officials and 84 deputy ministerial-level officials, only 211 remained in office, and the remaining 93 were newly promoted officials.

Follow the leader list.

On the morning of March, Pang Xinglong and other leaders of the State Council were sworn in before all representatives.

At this point, the plenary congress, which lasted 26 days and was extended by 11 days from the scheduled time, officially ended. In addition to the representatives of the Standing Committee, the other representatives will leave Beijing one after another after inspecting the achievements of the State Council's reform work and visiting the major attractions in the capital.

On this day, the U.S. District Court for New York completed legal preparations for Citibank’s filing for bankruptcy protection.

Although according to relevant US laws, Citibank will not immediately announce bankruptcy after filing for bankruptcy protection. In addition to continuing to operate, it will complete bankruptcy reorganization under the supervision of the court and the government, but when the New York District Court announced that Citibank officially accepted court protection, the US financial market still had a huge shock.

On that day, the three major New York stock indexes hit the daily limit again.

In the afternoon, the U.S. Federal Government Treasury Secretary and the Federal Reserve President jointly issued a statement that the "toxic assets" will be removed based on the original Citibank, and the "new Citibank" will be reorganized with Citibank's excellent assets through government aid and Federal Reserve guaranteed loans.

This news was long expected by investors, because General Motors did the same after it went bankrupt.

At this time, most investors are not concerned about whether Citibank can be "reborn" after bankruptcy and reorganization, but are very concerned about whether JPMorgan Chase and Bank of America, which are facing the same problems as Citibank, will declare bankruptcy one after another, and whether the federal government and the Federal Reserve will extend a helping hand to these two banks.

The main problem of the two banks is "non-performing assets".

JPMorgan Bank has provided more than $50 billion in loans to Boeing, and provided a total of $18 billion in loans to arms giants such as Los Angeles, Northrop, and General Electric. These loans are almost all "non-performing assets", and the hope of being able to be recovered is extremely slim.

Bank of America's "non-performing assets" are mainly concentrated on loans placed to energy companies such as Exxon-Mobil Oil, Texas Petroleum Group, and American Electric Power. If the performance of these companies cannot be improved, all loans will become a burden to drag down Bank of America.

According to the international financial community, the US federal government and the Federal Reserve Bank must invest trillions of dollars in order to save these two banks. Of course, some people have put forward different views. According to Al Jazeera, the US president only needs to launch a war to bring JPMorgan Chase and Bank of America back to life.

This "war" is a war to attack Iran.

As long as the war breaks out, the US lustful giants can get huge arms procurement fees from the government, and easily repay bank loans, so that banks of the United States cannon will get out of the predicament. As long as the cannon fires, international oil prices will soar rapidly, and American energy giants can make huge profits. Repaying JPMorgan Chase’s loans is naturally a minor problem. In other words, the US president will launch a war and provide support to banks in disguise.

Affected by this, the New York Stock Exchange's March oil futures price rose from $112 per barrel on February 13 to $1 per barrel on February 28. Entering the month, by March 1c, the monthly delivery of oil futures price reached $163 per barrel, and maintained a continued upward momentum.

At this point, Frederick can be regarded as "unable to ride a tiger".

According to external forecasts, the United States is at the bottom and the possibility of launching a war in early May is more than 80%. If the war does not start by then, many American investors who take the opportunity to speculate on oil, especially American energy interest groups and major consortiums that want to make a fortune, will become the biggest losers.

Under this circumstance, whether to fight Iran or not is not up to Frederick to decide.

According to data released by Al Jazeera, as long as the war begins, US energy interest groups and major consortiums will make at least $3 trillion in profits in oil futures.

Now, what is left is the "Mars" that detonated the war. (To be continued,)

First release
Chapter completed!