CCIEE Held 167th Monthly Economic Talk to Analysis the Paradox that China’s Economy has Reached Its Peak

On September 27, 2023, the China Center for International Economic Exchanges (CCIEE) held the 167th session of the "Monthly Economic Talk" with the theme of " Analysis on the Paradox that China’s Economy has Reached Its Peak." The meeting was chaired by Zhang Xiaoqiang, Executive Vice Chairman and Director of Board of Executives of CCIEE. Wang Yiming, Vice Chairman of CCIEE and Chairman of the Academic Committee at CCIEE; Zhang Yansheng, lead reasercher of CCIEE; Zhu Baoliang, chief economist of the State Information Center; and Zhang Xiaojing, researcher and director of the Institute of Finance&Banking, Chinese Academy of Social Sciences, delivered speeches respectively.

The attendees believe that the Western promotion of theories such as the "China's Economy has Reached Its Peak" is not a new occurrence. This is both an academic oversimplification and an expression of ideological bias. Some of the recent challenges faced by the Chinese economy are the result of the interplay between cyclical factors, such as the lingering effects of the pandemic, and structural issues arising from economic transformation and upgrading.Currently, the Chinese economy has entered a trend of recovery, with strong resilience, great potential, abundant vitality, and a fundamentally positive long-term outlook. In terms of economic growth, China's economic growth rate is gradually returning to its potential growth level. When it comes to growth potential, China still has significant room for catch-up growth in its economy.

From the perspective of population changes, China's population is transitioning from a "quantity dividend" to a "quality dividend." Looking at the real estate market, continued urbanization will expand the development space for the real estate market. Regarding price trends, China has not experienced deflation. Examining the balance sheet, China has not undergone a typical balance sheet recession. Considering the response to external challenges, China's domestic market has a huge scale. In terms of macroeconomic policies, our country still has significant policy maneuvering space.As long as we transform the process of economic recovery into a process of transitioning development methods, optimizing economic structure, and changing growth drivers, we can definitely promote the overall improvement of the Chinese economy and initiate a new growth cycle.

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.