CCIEE Held 162nd Monthly Economic Talk Themed of The Global Economic Trend after the Turmoil in the International Financial Markets and its Impact on China

On April 19, 2023, the China Center for International Economic Exchanges (CCIEE) held the 162nd session of the "Monthly Economic Talk" with the theme of "The Global Economic Trend after the Turmoil in the International Financial Markets and Its Impact on China." The meeting was chaired by Zhang Dawei, Vice Executive Chairman and Secretary-General of CCIEE. Zhu Guangyao, Vice Executive Chairman of CCIEE and former Vice Minister of the Ministry of Finance (attending online), Zong Liang, Chief Researcher of Bank of China, Zhang Yongjun, Deputy Chief Economist of CCIEE, and Zhong Zhengsheng, Council Member of China Chief Economist Forum (attending online), delivered speeches respectively.

The participants unanimously believed that the bankruptcies of financial institutions such as Silicon Valley Bank in the United States since March this year have had a profound impact on the stability of international financial markets and the development of the world economy. They emphasized that China should adhere to the principle of seeking progress while maintaining stability, enhance risk awareness, and attach great importance to preventing and resolving financial risks. Zhu Guangyao pointed out that we should prudently respond to future changes in the international financial markets and maintain our own high-quality development. Zong Liang suggested that China should actively deepen financial opening, pay attention to expanding international cooperation, and steadily promote the internationalization of the RMB. Zhang Yongjun emphasized the need to continue monitoring the operations of small banks in the United States and large banks in Europe and issue timely financial warnings accordingly. Zhong Zhengsheng stated that although the Federal Reserve has effectively addressed the issues of bank runs and asset sell-offs, it has also offset its ability to curb inflation, and the overall development of the U.S. capital market remains pessimistic.

After the speeches, the participating experts engaged in interactive exchanges with the media. Some researchers and member units of CCIEE, research institutions, enterprises, and news media participated in the conference through online channels.