China'S Economic Transformation May Become The Focus Of Discussion

The 2015 Summer Davos Forum will be held in Dalian, China, from 9th to 11th this month. At that time, topics of concern such as the new normal of China's economic growth, the development of the world economy and the fluctuation of China's stock market are expected to become the focus of the forum.

Focusing on the theme of "Mapping a New Blueprint for Growth", this Davos Forum will carry out more than 100 sub forum activities on six topics: economic uncertainty, scientific change, subverted industries, China's new normal, environmental boundaries, and the meaning of people. It is expected that 1500 delegates from more than 90 countries will attend the forum.

　　 Benefits such as pension entering the market have been introduced equity market Attention will be paid again in the future

Chinese investors have experienced double weather in this year. At the beginning of this year, the Shanghai Stock Exchange Index rose from 3234 at the end of the year to 5166 on June 12, creating a record in recent years; However, the subsequent development surprised many shareholders: under the influence of the international environment, the Shanghai Stock Exchange Index began to fluctuate and decline, which fell continuously on August 24 and 25. The Shanghai Stock Exchange Index fell 8.49% and 7.63% respectively, returning to the level at the beginning of this year.

Recently, relevant policies have also been introduced to stabilize financial market : On August 23, the State Council issued the Administrative Measures for the Investment of Basic Endowment Insurance Funds, which is expected to drive 600 billion yuan into the market; On the evening of August 31, the CSRC, the Ministry of Finance, the State owned Assets Supervision and Administration Commission and the CBRC jointly issued the Notice on Encouraging Mergers and Reorganizations, Cash Dividends and Share Repurchases of Listed Companies, encouraging cash dividends and share repurchases in various forms.

For the central bank, on August 25, the central bank issued a document overnight, announcing the news of reducing the reserve ratio and interest rate: among them, the RMB deposit reserve ratio was lowered by 0.5 percentage point, and the floating ceiling of the fixed deposit interest rate for more than one year was lifted. In addition, according to relevant reports, the central bank conducted a 7-day reverse repurchase operation of 150 billion yuan today (September 1) to further release liquidity.

Deputy Director, Institute of Finance and Securities, Renmin University of China Zhao Xijun In an interview with the financial reporter of China Central Broadcasting Network, he said that the central bank's obvious intention of "double drop" this time is to enhance the confidence of investors, reduce the cost of enterprises to obtain funds, and thus improve the profitability of enterprises.

In the case of many positive announcements, the future of China's stock market still affects the hearts of many shareholders.

　　 The world economy is in deep trouble. When will the Federal Reserve raise interest rates

Since 2015, the world economy, especially Europe and Japan, seems to be mired again. According to the data released by the Global Trade Monitor, the global trade volume fell by 0.5% in the three months ended June. Japan's domestic economy turned negative in the second quarter of this year, while European countries such as Portugal and Ireland, led by Greece, are facing the "shadow" of economic stagnation and debt crisis.

On August 12, the countries concerned in the euro area reached an agreement on the third round of rescue, which plans to provide Greece with up to 86 billion euros of rescue loans in the next three years, but the contradiction still exists: Germany has always opposed any debt restructuring of Greece in any situation.

On the other hand, the United States, the world's largest economy, performed strongly. The US Department of Commerce recently said that the economy grew at an annual rate of 3.7% in the second quarter of this year, much higher than the initial estimate of 2.3%.

As the domestic economy continues to warm up, the US dollar also rose relative to the euro and other currencies. This puts the Federal Reserve in a dilemma: is it going to raise interest rates for the first time since 2006 as planned? Or consider the uncertainty of the overseas market and hold still for the time being?

In this regard, the Davos Forum invited Zhu Min, Vice President of the International Monetary Fund, Marcos Vinicius de, Secretary for Innovation Affairs of the Ministry of Development, Industry and Trade of Brazil Souza et al.

　　 manufacturing industry Where is China's economic road in the downturn of emerging industries?

The recently released statistics show that China is in the "pain period" of economic structure transformation: on September 1, the purchasing manager index (PMI) of China's manufacturing industry released by the National Bureau of Statistics fell back to 49.7%, falling below the critical point. Previously, data from the National Bureau of Statistics showed that China's GDP growth rate in the first half of the year was 7%, and the economic growth continued to slow down.

Zhao Qinghe, senior statistician of the National Bureau of Statistics, interpreted the PMI and said that it was mainly related to the lack of growth momentum of the manufacturing industry. This year, some traditional industries continued to increase structural adjustment, the prices of crude oil and other commodities continued to decline, and the demand for manufacturing was weak.

Although China's economic growth slows down, its economic growth is the highest in six years, and its influence on the world is growing. In 2014, China's economy exceeded US $10 trillion for the first time. In the same year, China's contribution to the global economy reached 25.8%, 1.1 percentage points higher than that of the United States, ranking first in the world.

The manufacturing industry is sluggish, while the tertiary industry and some emerging industries continue to develop steadily, which shows that China's economic reform has achieved corresponding success: in the first half of the year, the tertiary industry accounted for 49.5% of GDP, an increase of 2.1 percentage points year-on-year, and the trend of transformation from industry led to service led is still continuing; In recent years, the concept of "Internet+" has swept all walks of life, and emerging industries such as cloud computing, new materials, robots, energy conservation and environmental protection have also made significant progress.

This Davos session invited Li Daokui, a professor of Tsinghua University, Li Jing, the managing director of JPMorgan Chase, and Wang Hongzhang, the chairman of China Construction Bank Corporation, to discuss the "new normal" of China's economy and its impact on the world.