CCIEE Chairman Meets with Chairman of the Daiwa Institute of Research Ltd.

On August 19, 21010, Mr. Zeng Peiyan, Chairman of CCIEE, met with Mr. Toshiro Muto, Chairman of the Daiwa Institute of Research Ltd. and former Deputy Governor of Bank of Japan. The two sides exchanged views on the current trend of world economy and Japan’s economy, China’s economic development and urbanization, Japanese Yen exchange rate and other issues. Also at the meeting were Mr. TeizoTaya, Senior Advisor of the Daiwa Institute of Research Ltd., Mr. Akihiko Kanamura, Chairman of Daiwa Securities SMBC Co Ltd. Asia Pacific Region, Mr. Shinji Shibuya，Chief Representative of the Beijing Representative Office, and Mr. Wei Jianguo, Secretary General of CCIEE.

Mr. Zeng pointed out that some new trends have emerged since June, the world economy’s prosperity has started to decrease and a slow development has begun, Japan’s economy is no exception. Presently, China’s economy not only needs to achieve stable growth, but also need to accelerate the transformation of its development mode to realize scientific development. The momentum of growth in China’s economy will not change in the next 10 to 15 years, as urbanization is likely to produce huge demand promoting China’s economic development. In terms of urbanization, China can learn a lot from Japan’s experience.

Mr. Toshiro Muto agreed with Mr. Zeng’s views. From a global point of view, he reckoned the possibility of a sharp shock in the world economy can not be ruled out. Japan has amended the forecast of its economic growth in 2010. In the early years, Japan also experienced many problems during its urbanization, such as food supply, infrastructure, an ageing population and so on.

The Japanese guests talked about the current situation in the Japanese exchange rates market, and pointed out whether the government will intervene the exchange rate market or not depends on various conditions.

Both sides hoped to strengthen exchanges and cooperation in economic consulting and offer consulting services to help Chinese enterprises go abroad and foreign companies enter Chinese market.