On March 18th, the “China Development High-Level Forum 2017 Annual Meeting” was held in Beijing. The theme of this year's China Development Forum is "China and the World: Economic Transformation and Structural Reform."
The three-day "China Development High-Level Forum 2017 Annual Meeting" was held in Beijing on March 18. At this year's forum, the reporter found that guests at home and abroad paid special attention to the impact of China's economic transformation on the world. Everyone believes that improving the quality and efficiency of economic growth will become the main theme of China's economic development. At the same time, China's determination to open up to the outside world and its adherence to a mutually beneficial and win-win attitude mean that China will inject greater confidence and motivation into its deep integration into the world economy.
Steady progress
As the world's second largest economy, China adheres to the general tone of steady progress and continuously maintains rapid economic growth, which undoubtedly adds confidence to the world economy.
In 2016, the contribution rate of China's economy to global economic growth exceeded 30%. The number of new jobs in urban areas was 13.14 million. The value added of service industry accounted for 51.6% of GDP, and the number of newly registered enterprises increased by 24.5%. The energy consumption of GDP has dropped by 5%... Behind this series of important indicators is the steady development trend of China's economy.
Wang Yiming, deputy director of the Development Research Center of the State Council, said that since the second half of 2016, China’s industrial production prices have turned from negative to positive, corporate profits have turned from falling, and manufacturing investment and private investment have shown signs of recovery. These indicate that China’s economy is stabilizing. The factors are constantly accumulating. “The ‘L-type’ we are talking about is entering the second half, and improving the quality and efficiency of economic growth will become the main theme of future economic growth.” Wang Yiming judged.
"Emerging markets are still an important engine supporting the growth of the world economy, with a contribution rate of over 70%. In particular, Asian countries such as China and India will continue to lead the global economy to a stable direction," said Zhang Tao, vice president of the International Monetary Fund (IMF). Michael Spencer, a professor at New York University and a Nobel laureate in economics, said that in the past, some countries have achieved such achievements as China, but their economies are much smaller than China, so China's achievements are very remarkable.
Solid reform and enhanced motivation
From reducing the corporate tax burden by more than 570 billion yuan to exiting the steel production capacity of more than 65 million tons, and then further cleaning up the standardization of administrative examination and approval matters... In the past year, China has made positive progress in promoting supply-side structural reforms, making China The economy is moving toward a more advanced form, a more optimized division of labor, and a more rational structure.
Yang Weimin, deputy director of the Office of the Leading Group of the Central Committee of the Communist Party of China, pointed out that when China's economy grew rapidly, the demand structure was mainly for low-end consumption, export demand and investment demand. The trace of the structural imbalance of the real economy is that the socialist market economic system is still not perfect, the government's influence in the allocation of resources is too large, and the market has not played a decisive role in allocating resources. Therefore, China's supply-side structural reform is to solve these structural imbalances through institutional reforms.
Zhang Lei, founder and CEO of Gaochun Capital Group, believes that the transformation of kinetic energy, transformation methods, and adjustment of structure ultimately depends on stimulating the innovation vitality of enterprises and cultivating the adaptability of enterprises.
In Michael Spencer's view, supply-side reform means that Chinese companies must change their business models to avoid being replaced by other companies. He said that in the future, human capital is becoming more and more important in the economy, so education should be used to improve the quality of human capital.
The "key role" of globalization
A flower alone is not spring, and a hundred flowers bloom in spring. While doing its own development work, China's every move in globalization also affects the nerves of the world. Wang Fuwen, deputy minister of the Ministry of Commerce, said that China has always been an important force in globalization. Regardless of how globalization reversed, the door to China's reform and opening up has always been open.
Jin Qi, chairman of the Silk Road Fund, said that economic globalization conforms to the requirements of the times and is irreversible. The problem must be solved by forward-looking and sharing. In the process of advancing globalization, China was a former player and now plays the role of promoter and advocate. The “Belt and Road” is actually the Chinese version of the globalization initiative.
Fang Jian, managing partner of China Lida Law Firm in China, said in an interview with this reporter that as China's integration into the world economy is deepening, Chinese companies' overseas investment and mergers and acquisitions will become an important form of promoting the “Belt and Road” construction. This will also inject deep motivation and confidence into the economic development of the countries concerned and the recovery of the world economy.
Fang Jian said, "On the one hand, Chinese companies investing in overseas mergers and acquisitions will bring capital, technology, market and management experience to local enterprises, solve the financial difficulties of the acquired enterprises, help the difficult acquired companies to get out of the predicament, and then drive local taxes. And employment. On the other hand, infrastructure in many areas along the 'Belt and Road' is still relatively backward, and foreign companies are less willing to invest, which affects local development. Chinese companies are taking the lead in 'going out' to participate in related construction, which will help The local development economy is the foundation for long-term development."
