China News Agency, Boao, April 22, Question: Internal and external challenges, how does China's economy climb over the hurdles?
China News Agency reporter Liu Liang
In the face of a century of changes and the new crown epidemic, uncertain and unstable factors in the global economy have increased, and the Chinese economy is also facing new challenges.
In the face of severe and complex challenges at home and abroad, China's economy needs to "refuel" to climb the slope.
At the 2022 annual meeting of the Boao Forum for Asia being held here, "China's economy" is still the key word discussed by all parties.
Economic opening: continuous release of institutional dividends
In recent years, the pace of China's opening to the outside world has accelerated, and the degree of economic openness has also been increasing.
Wu Xiaoqiu, former vice president of Renmin University of China and dean of the China Institute of Capital Markets, said at the Boao Forum for Asia that the current complex international environment has brought new complexity to China's economic opening, but insisting on economic opening will continue to release the system for China's economic development. dividend.
He believes that from the QFII (Qualified Foreign Institutional Investor) system to Shenzhen-Hong Kong Stock Connect and Shanghai-Hong Kong Stock Connect, the open space of China's capital market has been continuously expanded, bringing development opportunities to China's economy.
Looking ahead, China's economic opening, especially financial opening, still has room for further opening.
Taking the registration system reform as an example, Wu Xiaoqiu said that this is a major reform of China's capital market, the most important manifestation of marketization, and has a profound impact on improving investment value and the structure of listed companies.
"At present, the implementation of China's registration system in the whole market has reached the conditions. In the next step, marketization, legalization, and internationalization will be the focus of China's capital market in the future."
Technological innovation: the digital economy has great potential
The epidemic of the century creates opportunities in crisis.
Participants believed that the development of the digital economy has accelerated under the epidemic, and there is great promise in the future.
According to a set of data shared by Qian Kun, the global senior vice president of Qualcomm, by 2035, the scale of the global digital economy will reach 13 trillion US dollars.
In China, this figure will reach 1.5 trillion US dollars, and at the same time, 13 million people will be employed, and the scale and economic benefits are very considerable.
Judging from China's practice, the digital economy has played an important role in epidemic prevention and control.
Du Lan, senior vice president of iFLYTEK, said that the proportion of the digital economy's contribution to China's economy has continued to increase, and it has become the core engine of China's economic development.
In the future, with the increasingly rich application scenarios of the digital economy, stimulated by the "domestic demand" of China's huge domestic market, the digital economy will usher in unprecedented opportunities, and the Chinese economy will also gain energy for high-quality development.
Green development: adding impetus to economic recovery
The epidemic has brought a huge impact on the global economic development.
"After this century's epidemic, the world has realized the importance of green recovery and sustainable development more than ever," said Li Baodong, Secretary-General of the Boao Forum for Asia.
Under the background that green development has increasingly become an international consensus, China and many other countries have successively announced the blueprint for carbon-neutral development, and the green industry has broad prospects.
According to Deng Jianling, general manager of China Huaneng Group Co., Ltd., in the process of achieving carbon neutrality in China, the green industry represented by the green hydrogen industry is expected to have an output value of 3 trillion yuan waiting to be tapped and developed.
Carbon neutrality is of great significance to China's future economic and social development.
According to Liu Qiao, Dean of the Guanghua School of Management at Peking University, this will bring all-round changes and impacts to the entire economy and society, and will profoundly affect future economic growth paradigms and production factors.
But achieving carbon neutrality is no easy task.
Liu Qiao suggested that China should form a carbon price discovery mechanism as soon as possible and encourage the financial system to participate in it.
At the same time, fiscal policy should also play an active role in promoting carbon-neutral-related investments by issuing long-term treasury bonds.
Regional cooperation: mutual benefit promotes win-win for all parties
Under the current international situation, the global economic growth has slowed down, but the Asia-Pacific regional cooperation has not stopped. The entry into force of the Regional Comprehensive Economic Partnership (RCEP) this year not only witnessed the further in-depth cooperation in the Asia-Pacific region, but also opened up China's economic and trade cooperation. new space.
The former Deputy Prime Minister of Singapore, Wong Kan Seng, said that RCEP provides better development opportunities for the region and member states. Measures such as trade facilitation measures and tariff reductions not only bring opportunities to improve investment levels and foreign trade, but also create more employment opportunities, improve the standard of living of the people of the member states.
Song Hailiang, chairman of China Energy Construction Group Co., Ltd., said that both RCEP, the Comprehensive and Progressive Trans-Pacific Partnership Agreement and the Digital Economy Partnership Agreement represent high-standard international economic and trade rules, which will force companies to actively Benchmarking the international advanced level, and constantly forge more advantageous core competitiveness.
Observers at the meeting believed that the in-depth cooperation and mutual benefit of RCEP will not only promote win-win results for all parties, but also play an important role in promoting China's realization of a higher level of opening to the outside world and better participation in regional integrated development.