CCIEE Holds the 82nd Monthly Economic Talk

On 19 April 2016, CCIEE held the 82th Monthly Economic Talk on the theme of “Analysis of the International and Domestic Economic Situation in the First Quarter”. Mr. Zhang Xiaoqiang, Executive Vice Chairman and CEO of CCIEE, presided over the talk. Mme. Chen Wenling, Chief Economist and Assistant CEO of CCIEE, and Mr. Xu Hongcai, Head of the Economic Research Department of CCIEE, respectively gave a speech.

Chen Wenling noted that the world economy in the first quarter could be characterized by five features: first, global economic growth is losing momentum due to slowdown in international trade and investment; second, deepened global deflation has weakened dynamics in global capital flow; third, collective setback in emerging economies has slowed the engine of global growth; fourth, continued decline in the international commodity prices has made raw materials and energy resources producing countries less motivated to make structural adjustment; and fifth, the almost invisible recovery of developed economies has undermined the dynamics of growth.

She pointed out that although, in the world today, the old mentalities are being challenged by the new thinking, the old dynamics and rules being replaced by new ones, and a new balance of power is emerging, there are still bright spots in the world economy. Under such circumstances, it is important for China to ensure effective implementation of its policies in accordance with its national conditions, development plans, the five-development vision and its key missions such as the supply-side structural reform, to promote sound and sustained domestic development and contribute to global economic growth.

Xu Hongcai said that economic data of the first quarter this year have shown that China’s economy has got off to a good start, running stably within a reasonable range with signs of improved structure and better quality of growth. After analyzing China’s performance in meeting the four major policy goals specified by the traditional economics, namely economic growth, price level, employment and balance of international payments, he came to the conclusion that China’s economy has shown signs of steady growth for this period of time, though the downward pressure is still huge. He suggested that China continue to take proactive fiscal policy, speed up reform of the financial and taxation systems, implement neutrally easing monetary policy, and advance liberalization of the financial sector.

After giving the speeches, the experts answered questions from the media and audience. Some of the CCIEE researchers and representatives of the CCIEE member organizations, businesses, research institutions and the media attended the event.