Macro Economy Forum Team of National Academy of Development and Strategy, RUC Pays a Visit to Japan for Academic Exchange

On the afternoon of November 24, 2016, the Macro Economy Forum Team of National Academy of Development and Strategy, Renmin University of China was invited to attend “2016 Sino-Japanese Economic Exchange Talkfest” organized by Consulate-General of the People’s Republic of China in Nagoya. Prof. Liu Yuanchun, Executive President of NADS, RUC, delivered a keynote speech “China’s Future Economic Development Strategies” and present were more than 160entrepreneurs in Central Japan, including Ozawa Tetsu, President of Tokai Japan-China Trade Center, and Tomita Eicii, Representative Secretary of Central Japan Association of Corporate Executives.

Prof. Liu Yuanchun analyzed China’s economic situation in 2016 and forecasted the situation in 2017, and emphasized that China’s main economic indexes in 2016 were better than expected, economic growth slowed down and tended to be stable, and GDP growth rate would reach the target value of 6.7%. Through measures such as accelerating supply-side reform, establishing a macroscopic regulatory system based on both stable growth and risk control, promoting the reform of state-owned enterprises, constructing a multi-level capital market and strictly controlling financial transaction leverage, China’s economy will be maintained at medium to high development speed in 2017.

Consul-General Deng Wei said in the speech that Central Japan, as Japan’s manufacturing center, had close economic ties with China. More than 4000 Japanese enterprises in Central Japan, represented by Toyota, invest and develop in China, so they are most concerned about the situation and development trend of China’s economy. The “Sino-Japanese Economic Exchange Talkfest” provides a good opportunity and platform for them to have an objective understanding of China’s economic situation and development trend.

Afterwards, five experts from Macro Economy Forum Team of NADS, RUC delivered keynote speeches respectively, and interacted and communicated with participants, allowing these participants to increase their objective understanding of China’s economic situation.

Prof. Yang Ruilong explained the reason, connotation and path of the supply-side structural reform. He believes that the key to cultivating new growth impetuses and boosting supply-side structural reform lies in promoting the transformation of economic development mode via government self-reform.

Prof. Liu Fengliang analyzed the issue of constructing new impetuses for China’s economic growth in the context of slowdown of global technical progress. He proposed to facilitate the conversion between old and new impetuses by comprehensively deepening the reform and boost a reform compatible with innovation-leading incentives, especially government reform.

Researcher Yan Yan introduced the new situation of great-leap-forward development and accelerated opening of China’s bond market, and indicated that the opening of the bond market not only instilled new vitality into China’s economy, but also motivated global economic recovery and development.

Associate Professor Yu Ze analyzed China’s monetary policies in transition and proposed to strengthen macro-prudential regulation and establish stable environment for monetary policies in transition.

Researcher Liu Xiaoguang explained the situation of China’s real estate market and put forward that in the medium and long term, China’s housing price shows the potential to continue to rise and there is still room for further investment in China’s real estate market.

Macro Economy Forum Team of NADS, RUC also visited Tokai Japan-China Trade Center. Prof. Liu Yuanchun introduced the general information on NADS, RUC, including its development, basic orientation and operating mechanism, and its main research fields and think-tank product series, etc. The two had in-depth discussions centering on synergy with Tokai Japan-China Trade Center for cooperation in construction and development of an international think tank.

Later on, the Macro Economy Forum Team also visited Waseda University. The two carried out detailed and constructive discussions on personnel exchange and reciprocal visits, academic research and cooperation and so forth.

This visit is an international cooperation project in scientific research funded by double “first-class” funds of RUC, which assembles outstanding intellectual resources in the Academy, gives play to research expertise and fully expands international influence. Through active planning and voicing, it influences local public opinions and radiates Japanese political, business and academic circles, powerfully gives the voice of Chinese scholars and lays a solid foundation for building a solid high-level international think-tank cooperation and exchange network, constructing strategic alliance for think tank and establishing a benign think tank system.