Roundtable I: China Economic Outlook

Turning around China’s economic issues, the experts at the Roundtable I talk about their own views. Qifan Huang believes that there are four aspects of dividends to be released for China’s economic growth, i.e. reform dividends, super-large-scale market dividends, innovation and capital market dividends, and new opening-up dividends. So the future prospects of the Chinese economy are bright, and the current difficulties are temporary. Yang Yao emphasizes two aspects of the Chinese economy. First, China has taken the lead in some fields of new technologies. Second, after the reform and opening up, the Chinese economy generally has a 10-year cycle, and the 2020s should be a new growth cycle. From these two perspectives, Yao Yang believes that the Chinese economy is in a new growth cycle. Yuanchun Liu points out that the economic data for the first quarter showed a series of conflicts, which shows that supply and demand are not synchronized in the recovery. He thinks this is a new stage, with new characteristics, new logic, and a greater need for new policies. Xuan Tian thinks that in the short term, we rely on consumption; in the long term, we rely on innovation; and from beginning to end, we rely on the private economy. The direction of reform is marketization, legalization, and internationalization.