CCIEE Holds 52nd Monthly Economic Talk

CCIEE Holds 52nd Monthly Economic Talk

On October 23, 2013, CCIEE held the 52nd Monthly Economic Talk at Beijing Media Center, under the theme of Economic Analysis of the Third Quarter. Li Deshui, former Commissioner of National Bureau of Statistics of China, presided over the meeting.

Zheng Xinli, Permanent Vice-Chairman of CCIEE and Fan Jianping, Deputy Director of the Economic Forecast Department at National Information Center, delivered speeches. Mr. Zheng pointed out that six economic potentials need to be unleashed through reforms. Specifically speaking, unleashing potential in areas of consumption demand, employment, innovation, capital, labor supply, land supply, by reforming income distribution, tax system, scientific education system, financial institution, urbanization integration system, and land system correspondingly. All the reforms will play a great role in maintaining China’s economic growth at 8% until 2020 or ever longer.

Mr. Fan reckoned that an economic growth rate of 7%-9% is appropriate, which is also the New Normal of China and is determined by its economic operation trend. Pursuing economic quality rather than growth rate matches China’s current economic condition and is certainly the best policy choice. Currently, the biggest problem of China is not low economic growth, but how to further improve the quality of its economy by promoting reforms and restructuring.     

Li Deshui argued that world economy has shown a trend of recovery in the first half of 2013, and will continue to recover during its adjustment because it started well at the beginning of the second half. Over the next few years, world economy will still be in the period of deep adjustment and is unlikely to enter the economic growth cycle of full recovery. Such kind of international environment presents more opportunities than challenges for China as it will facilitate China to restructure its economy and transform its economic development mode.

At the end of the talk, experts took questions from the audience and media.

Researchers and representatives from corporate member companies of CCIEE, other research institutions and the media attended the meeting.