CCIEE holds the 100th Monthly Economic Talk

On 19th October 2017, CCIEE held the 100th Monthly Economic Talk under the theme of Interpreting the 19th CPC National Congress Report: Analysis of Chinese and International Economy. The meeting is presided over by Li Deshui, Deputy Director of the CCIEE Academic Committee. Chen Wenling, CCIEE Chief Economist and Xu Hongcai, Deputy Chief Economist of CCIEE, delivered their speeches respectively.

Chen Wenling pointed out that China has become a leading force of the world’s economic growth since the breakout of the international financial crisis in 2007. The emerging economies, represented by China, and other developing countries are on the rise and China’s GDP growth is expected to reach 7% approximately in the fourth quarter of 2017. Generally speaking, the international economic environment is satisfactory and the trend is likely to remain in the coming 2018. As for China, its economy will continue to seek improvement while maintaining stability. Furthermore, she said that the 19th CPC National Congress has developed two roadmaps for the two phases of future development. From now to 2035, we will work on building a modernized socialist country. From 2035 to 2049, we will make China a prosperous, civilized and beautiful nation. In the future, China will shoulder more responsibility in the global stage.

Xu Hongcai noted that there has been an obvious momentum of the world’s economic growth, the external demand has rebounded and China’s GDP experienced a year-on-year growth of 6.9% in the third quarter. Overall, the three quarter is characterized by stable commodity prices and employment, improved balance of international payment, further optimization of the economic structure and a better-than-expected economic growth. In 2018 China’s economy will continue to seek growth while maintain its stability, however, the economic growth is likely to fall back slightly, which is in line with the New Normal of China’s economy. On one hand, the central government should aim for a stable macroeconomic policy, an active and effective fiscal policy and a steady monetary policy in the future. On the other hand, it should make those policies more forward-looking, target-oriented and flexible.

Researchers from CCIEE, representatives from enterprises, research institutions and news agencies took part in the event.