Summary March 24 morning, from the Boao Forum for Asia 2016 annual ceremony two hours, the Boao local began to rain. Despite the bad weather, the venue, which can accommodate more than 2,000 people, sat early with the audience. In the past year, the world economy has presented a "new level...
On the morning of March 24, two hours before the opening ceremony of the Boao Forum for Asia 2016 Annual Meeting, it began to rain in Boao. Despite the bad weather, the venue, which can accommodate more than 2,000 people, sat early with the audience. In the past year, the world economy has presented a picture of “new mediocrityâ€: weak growth, weak employment, sluggish trade, financial market turmoil, low commodity prices... People are asking, can China continue to play the role of world economic growth? locomotive?
At 9:40, Chinese Premier Li Keqiang took the stage in the applause. "Chinese saying that spring rain is as expensive as oil, thank you for the gathering of guests to bring Boao to Hainan to bring this rain that indicates a bumper harvest." This opening made many listeners smile.
In the next 40 minutes, Li Keqiang used two-thirds of the time to explain the Chinese economic situation from two aspects: "how to look" and "how to do it." In an international forum like Boao, it is rare for Chinese leaders to use such a large space to talk about the domestic economic situation as a host country. I am afraid that China’s economic growth rate will be “breaking seven times†for the first time last year. It is not unrelated to the fact that countries are very concerned about China’s economic situation.
In this regard, Li Keqiang's answer is that the growth rate of China's economy last year was 6.9%, and the fundamentals of China's long-term optimistic economy have not changed. In the next five years, the market will maintain a growth rate of more than 6.5%.
Regarding the exchange rate issue, Li Keqiang reiterated that the renminbi will remain stable at a reasonable and balanced level. The fundamentals of China's development have determined that "the renminbi does not have a long-term devaluation." Li Keqiang emphasized that "China will promote exchange rate marketization in accordance with the principle of initiative, graduality and controllability, but will never use devaluation to stimulate exports."
Li Keqiang also stressed that China's economic upgrading and development will continue to create opportunities for Asia and the world. In the next five years, China's imports will exceed 10 trillion US dollars, foreign investment will exceed 600 billion US dollars, and hundreds of major projects and major projects will be implemented. China is willing to work with Asian countries to "build a community of development and cooperation."
"The core of the Asian economy is China, Japan and South Korea and ASEAN. Among them, China's economy is the largest, bigger than two Japan. China is equivalent to an engine on an economic aircraft carrier, attracting worldwide attention." National Development and Reform Commission Academic Committee In an exclusive interview with reporters from the 21st Century Business Herald, Secretary-General Zhang Yansheng pointed out that Premier Li Keqiang is going to explain to the world in Boao how the Chinese economy will develop in the short, medium and long term and what kind of policies the Chinese government will implement.
Read the "three look" of the Chinese economy
During the National "Two Sessions", China announced that the annual average growth rate for the "13th Five-Year Plan" period (2016-2020) is 6.5%, and the expected target for 2016 is 6.5%-7%. The IMF expects China's 2016 GDP growth rate to reach 6.3%. More important than the data itself, Li Keqiang proposed that to understand the Chinese economy, we must learn to "see three":
Look at the whole. Last year, China’s total economic output was 67.7 trillion yuan, more than 10 trillion US dollars, reaching a growth rate of 6.9%. This is a growth in the high base, and it was achieved during the transformation and upgrading process.
Second, look at the trend. According to statistics, last year, more than 13 million new jobs were created in cities and towns across the country, and the income growth of residents exceeded GDP growth. The employment situation remained stable in January and February this year. The unemployment rate in 31 large cities remained at around 5.1%, and last year’s basic Flat.
Third, look at the long run. China is still in the process of industrialization and urbanization as a whole. There is room for domestic demand, development is resilient, and innovation has means. Therefore, "the fundamentals of the long-term optimism of the Chinese economy have not changed." "China's economic hopes are greater than difficulties."
Li Keqiang also talked about the three "motivations" of the Chinese economy. First, reform and opening up, second, structural adjustment, and third, improving people's livelihood.
The Chinese economy is in a critical period of structural adjustment. Li Keqiang said that it is necessary to actively develop the new economy, vigorously cultivate new kinetic energy, transform and upgrade traditional kinetic energy, and form a "double engine" for development. In the process of promotion, de-capacity is a subtraction, and the focus is on the de-capacity of difficult industries such as coal and steel. On the other hand, we must do addition, foster new growth points, develop new economies, promote mass entrepreneurship, innovation, and implement innovation-driven strategies.
Li Keqiang promised that he will continue to promote reforms such as decentralization, decentralization, and optimization of services; and promote the reform of the financial and financial system, and will soon push forward the reform of business tax and value-added tax. This year, enterprises should be reduced by more than 500 billion yuan in taxes. "Fish"; in the financial sector, promote all-round regulatory reforms, and gradually reduce the leverage ratio of enterprises. This year, the company will launch the "Shenzhen-Hong Kong Stock Connect".
Li Daokui, director of the China and World Economic Research Center of Tsinghua University, pointed out to the 21st Century Business Herald that the successive launch of “Shanghai-Hong Kong Stock Connect†and “Shenzhen-Hong Kong Stock Connect†reflects the continuous opening of China's capital market.
"With the orderly opening of the capital market, the macro level should pay attention to prevent financial market fluctuations caused by fast-moving capital." Zhang Yue, a partner and managing director of the Boston Consulting Group, pointed out in an exclusive interview with the 21st Century Business Herald. For financial institutions, two-way opening means more overseas investment opportunities, which can help customers better achieve global asset allocation and risk diversification, but it will also be a great test for financial institutions' overseas investment capabilities.
Initiative to build the Asian Financial Cooperation Association
Li Keqiang said that he hopes that all countries in the world will strengthen macroeconomic policy coordination and adopt more growth-friendly policies to avoid spillover effects from policy adjustments. "China is actively pursuing the establishment of the Asian Financial Cooperation Association and is willing to cooperate with all parties to improve the construction of Asian financial markets and jointly avoid the recurrence of large-scale regional financial turmoil."
This is his second recent proposal. On November 22, 2015, Li Keqiang said at the 10th East Asia Summit in Kuala Lumpur that China is willing to strengthen its development strategy with ASEAN and jointly build a closer China-ASEAN destiny community. China is promoting the “Belt and Road†with many countries in East Asia. Construction and international capacity cooperation, and the initiative of regional financial institutions in the region to jointly launch the "Asia Financial Cooperation Association."
For this initiative, the Deputy President of the BRICS Development Bank, Leslie Warren Maasdorp, told 21st Century Business Herald that it will undoubtedly strengthen cooperation between multilateral development banks in Asia. “China’s 'One Belt, One Road' initiative involves the interconnection of more than 60 economies, and the AIIB and Silk Road Fund are cooperating to explore the potential for infrastructure development. The concept of the Asian Financial Cooperation Association is behind the regional economy. Further support for integration," Maasdorp pointed out.
Li Daokui believes that the Asian Financial Cooperation Association is a relatively new concept of cooperation, and the specific content of cooperation is still unclear. But he speculates that the main thing is to talk about regulatory policies, a bit like the International Finance Association, plus some policy coordination, its members will be many banks, such as ICBC, CCB, share information, and unified regulatory information.
Founded in 1983, the International Finance Association includes all major commercial banks and financial investment institutions in the world, with the goal of helping the financial industry strengthen risk management and implementation of best practices, and advocate for regulatory, fiscal and economic development that contributes to global financial stability. Implementation of the policy.
"Now the risk of Asian financial markets is rising, the information is not smooth enough, not only involving monetary policy, but also loan policy. Countries can exchange information on measurement methods, asset classification, etc. It is important to set a standard." Li Daokui said.
Zhang Yue, who is responsible for the special work of BCG Greater China Financial Institutions, pointed out that the Asian financial market has experienced recent fluctuations, instability and uncertainties have increased, it is necessary to strengthen communication and enhance mutual trust. "In recent years, Asian countries have been striving to establish a more normal communication mechanism, to enhance mutual understanding and communication in various global and regional forums and conferences, and to play a very active role in maintaining regional financial stability. The establishment of new mechanisms such as the Asian Financial Cooperation Association will further strengthen dialogue and mutual trust in the region."
Strive to complete RCEP negotiations during the year
Li Keqiang said that the Regional Comprehensive Economic Partnership Agreement (RCEP) is the largest and largest regional trade arrangement in Asia and should strive to complete negotiations in 2016. He emphasized that "the revitalization of Asia cannot be left behind."
Since its launch in May 2013, RCEP negotiations have been held in 11 rounds and 4 meetings of economic and trade ministers have been held. The parties have concluded negotiations on market access patterns for goods, services and investments, and are in the process of trade in goods, services, and investment. Negotiate substantive discussions in the core areas.
The RCEP was first proposed by ASEAN in 2011. Its members include 16 parties including ASEAN, China, Japan, South Korea, India, Australia and New Zealand. The population accounts for about 50% of the world's total. The gross domestic product, trade volume and attracting foreign investment are close to the global 1/. 3. It is currently the largest free trade agreement negotiation in Asia.
Some analysts believe that the rapid expansion of free trade agreements in the Asia-Pacific region has helped the RCEP negotiations. ASEAN has established a free trade zone with six countries through five free trade agreements, including a free trade zone with Australia and New Zealand through a free trade agreement, a free trade agreement with China and an upgrade in 2016, with Korea and Japan. India also has a free trade agreement.
“Compared with the US-led TPP, RCEP is a more inclusive regional trade arrangement that can take care of low-income small and medium-sized countries and some more marginalized countries. Therefore, RCEP is an important path for economic integration in the region.†Zhang Yansheng Say.
During the sprint, the attitude of major Asian countries will determine whether RCEP can be completed on schedule. A senior domestic scholar told the 21st Century Business Herald that in addition to China, India is also enthusiastic about the RCEP negotiations. He expects RCEP to complete negotiations by the end of this year. Last year, after the FTA of China and South Korea was reached, the struggling China-Japan-ROK FTA negotiations also began to show positive factors. The above scholars said that this is also good news for the RCEP negotiations.
led grow light,grow strip light,grow lighting
Shenzhen You&My Electronic Technology Co., Ltd , https://www.ymledtrade.com