22 September 2016
Today, China is already the world’s biggest economy in terms of purchasing power parity. With the GDP growing at just 3.5% per annum, China is likely to overtake the US to become the world’s largest economy by 2025. However, the Chinese economy is facing tough challenges. The Chinese Government and leadership need to strike a delicate balance between growth at 6.5%, encouraging efficiency through innovation and technology, unemployment and job creation, environmental and social considerations and efficient government as well as continuous structural reform. Maintaining a relatively high growth rate while pushing for a consumption and services-led transition will not be easy. But as President Xi has pointed out, China’s basic economic fundamentals have not changed, China’s commitment to reform and opening up remained intact, and the Chinese government still has many tools and resources to offset the downside risks. The government’s action plans for 2016 and the 13th Five-Year Plan period give us confidence that the Chinese economy is on a path of a more sustainable and healthy grow. Prof. Jing Huang, an outstanding expert on China, will give his deep insights into the Chinese political and economic developments in a global context. This will be of particular interest for decision makers, business leaders and investors.