China News Service, Beijing, April 10 (Reporter Wang Enbo) Zhu Min, Dean of the National Institute of Finance of Tsinghua University and former vice president of the International Monetary Fund (IMF), said on the 10th that China is leading the global economic recovery cycle and the next step Policies should focus on quality and structure, rather than economic aggregates.
The "2021 Tsinghua Wudaokou Chief Economist Forum" was held on the same day in the form of video connection, Zhu Min said in the keynote speech.
He believes that, including the United States, most countries in the world are still in the stage of getting out of the epidemic, that is, introducing fiscal and monetary policies to quickly stop the crisis of economic decline through rapid development.
China is a full cycle ahead of the global economic recovery. "When most countries are thinking about getting out of the crisis, we are already thinking about sustainable development in the future."
"At this stage, the total amount is not important, the structure is important, and the quality is important, because this is the starting point for laying a new foundation." Zhu Min said that the epidemic has objectively created new imbalances in the economic structure, including imbalances between industries. , The imbalance between the virtual economy and the real economy, regional imbalance, employment imbalance, income imbalance, etc.
These imbalances must now be repaired and returned to the basic framework of their own development to prevent them from forming lasting damage; rebalancing, structural restoration, and transformation should be the main goals of the policy.
Zhu Min said that China is pushing the entire economy toward the three directions of coping with aging, carbon neutrality, and digital transformation, so as to embark on a new green and sustainable development track.
This move is equivalent to embarking on three tasks at the same time: repairing the wounds of the past, promoting strong economic growth, and transforming the overall economic growth paradigm.
This will be the biggest challenge to China's macro policy this year.
He further pointed out that compared with other countries in the world, China has adopted rational and reasonable stimulus measures in the epidemic, and the scale of fiscal and monetary policies is moderately lower than the international level.
China not only sees the existing high debt risks, but also sees the importance of the transmission mechanism, so it has gradually promoted the use of subtle drip irrigation methods to improve its efficiency and leave room for future policies.
"At today's node, we must make good use of this space, accurately position it, and do a good job in structural transformation." (End)