On December 15, 2019, the 4th National Development Forum was held at the PKU Overseas Exchange Center and on the 2nd floor of Wanzhong Building, Langrun Garden.
The Forum was sponsored by National School of Development at Peking University (NSD) and co-sponsored by Founder Securities Co., Ltd. Under the general theme “Global Changes and National Development”, a host of famous scholars and entrepreneurs carried out in-depth discussions on topics such as “Global Changes and China-U.S. Relations”, “Real Economy Financing and Financial Regulation”, “Macroeconomic Situation and Capital Market & the 54th Economic Observation Seminar”, and “Entrepreneurs’ Annual Meeting: Innovation, Growth and Management” that was the topic of a parallel sub-forum held in the afternoon. Moreover, China Business Network, news.ifeng.com, ThePaper.cn, Xinhua Finance, Xinhua Net’s Sike News, finance.sina.cn, among other media, provided strategic support for the Forum.
At the Forum, the NSD released China 2049, a report jointly written by the NSD and the American think tank Brookings Institution. From morning to afternoon, three research results of the NSD were also released, namely, China’s Consumer Confidence Index (CCCI), China Investor Sentiment Index (CISI), and China Innovation and Entrepreneurship Index (CIEI).
Prof. Xu Jintao
Xu Jintao, Executive Chairman of the 4th National Development Forum, Deputy Dean of the NSD, and Boya Distinguished Professor, served as the moderator of the opening ceremony. He introduced the history and tenet of the NSD to the attendees. Professor Xu told that, taking global changes and national development as its core theme, the National Development Forum aims to inquiringly analyze the current situation and share research results; moreover, it provides an opportunity for scholars to exchange ideas with each other in Peking University’s spirit of free thinking and inclusiveness, and thus leads to a scientific, rational and high-quality public debate which will promote social progress.
Prof. Yao Yang
Yao Yang, Dean of the NSD, Boya Distinguished Professor and Changjiang Distinguished Professor of the Ministry of Education, delivered an opening speech. He first welcomed the guests and audience on behalf of the NSD. Then he introduced that, as an institute with roles spanning teaching, scientific research, and think tank, the NSD has always paid attention to China’s real problems and has been actively participating in discussions on China’s practical policies, which are the foundation of the NSD and the inheritance of the research orientation of professors such as Justin Yifu Lin, Zhou Qiren, Zhang Weiying, Yi Gang, and Song Guoqing ; moreover, the NSD is also committed to making its academic research go global, and has established in-depth cooperation with the US’ NBER and Brookings Institution.
NSD and Brooking Institutions Jointly Released China 2049
Prof. Huang Yiping
China 2049—Towards a Global Powerful Economy was jointly released by the NSD and Brookings Institution after more than a year of joint research launched by Professor Yao Yang, Dean of the NSD. This report aims to study how China will achieve the national strategic goal of the “two centenaries” — building a strong modern socialist country — on the occasion of the centennial anniversary of the founding of the People’s Republic of China in 2049. A host of scholars from China and the United States carried out forward-looking analysis on the reasons for China’s success in the past 40 years, new challenges in the next 30 years, and policy recommendations from the perspective of their respective research fields. Professor Huang Yiping, Deputy Dean of the NSD and one of the chief editors of the joint research team, issued the report on behalf of the research team.
Prof. Liu Shijin
Liu Shijin, Deputy Director of the China Development Research Foundation and former Deputy Director of the Development Research Center of the State Council, commented on the report and shared his observations on China’s economy as well.
CCCI and CISI Released
Prof. Ma Jingjing
China’s Consumer Confidence Index (CCCI) was released by Assistant Professor Ma Jingjing at the NSD. CCCI is a quarterly index prepared by the NSD under the support of Beijing PERCENT Information Technology Co., Ltd.
Prof. Shen Yan
China Investor Sentiment Index (CISI) was released by Professor Shen Yan at the NSD who led the preparation of this index. CISI was jointly developed by the NSD and Beijing PERCENT Information Technology Co., Ltd.
Global Changes and China-U.S. Relations
Prof. Liu Guoen
The session surrounding the topic “Global Change and China-U.S. Relations” was chaired by Liu Guoen, Boya Distinguished Professor and Changjiang Scholar of the Ministry of Education.
Prof. Liu Jianfei
Liu Jianfei, Dean of the International Strategic Institute of the Party School of the Central Committee of the CPC(Chinese Academy of Governance), analyzed the unprecedented global changes unseen in a century and China’s countermeasures.
Prof. Yu Miaojie
Yu Miaojie, Party Secretary of the NSD, Boya Distinguished Professor and Changjiang Distinguished Professor of the Ministry of Education, shared his views on China-U.S. trade relations and predicted their development in the future.
Prof. Tu Xinquan
Tu Xinquan, Dean of the China Institute for WTO Studies at UIBE, analyzed the US’ coordinated containment trade strategy with China.
Prof. Justin Yifu Lin
Justin Yifu Lin, Boya Distinguished Professor, Dean of the INSE, and Honorary Dean of the NSD, analyzed the reasons behind US trade policies with China and pointed out China’s stance and countermeasures.
After that, the scholars attending this session conducted in-depth discussions on the document of the Phase-I China-US. trade agreement, the common interests and values of China and the United States and what China should do to minimize the risk of China-US conflicts.
Real Economy Financing and Financial Regulation
Prof. Huang Zhuo
The first session in the afternoon was around the topic “Real Economy Financing and Financial Regulation.” It was chaired by Huang Zhuo, Fa-Shu Endowed Scholar and Associate Professor of Economics of the NSD, and Deputy Director of the Institute of Digital Finance at Peking University.
Prof. Yao Yang
Professor Yao Yang analyzed the main reasons for China's economic downturn in the past two years.
Xu Gao, Assistant President and Chief Economist of BOCI Securities, described the predicament of private enterprises under the deleveraging policy.
Hu Jiayin, Assistant Professor at the NSD, analyzed the asymmetric effect of the deleveraging policy on state-owned and private enterprises.
Wu Minwen, Chairman of the Board of Sensegain Asset Management Group Co., Ltd. and an EMBA alumnus of the Class 2006 at the NSD, delivered a speech entitled “Optimizing Regulation Policies and Expanding Equity Financing.”
After that, the guests discussed the current financial policies that needed to be changed and shadow banking, and answered questions raised by the audience.
China Innovation and Entrepreneurship Index Released
Prof. Zhang Xiaobo
The “Langrun & Long Credit China Innovation and Entrepreneurship Index”, launched by Zhang Xiaobo, Peking University Chair Professor at the NSD, started in 2015. It was prepared by the NSD and Long Institute.
Macroeconomic Situation and Capital Market & the 54th Economic Observation Seminar
Prof. Lu Feng
The last session of the main venue in the afternoon was around the topic “Macroeconomic Situation and Capital Market & the 54th Economic Observation Seminar” and it was chaired by Lu Feng, Sinar Mas Chair Professor of Economics at the NSD.
Sun Mingchun, Chief Economist of Haitong International Securities, analyzed global macro risks in 2019 and gave an outlook on Chinese and global economic situations in 2020.
Zhang Liqun, Researcher Fellow at the Department of Macroeconomic Research at the Development Research Center of the State Council, said that China’s economic growth has declined, and it is necessary to pay attention to the problem of insufficient demand and pool efforts to resolve it.
Yan Se, Chief Economist of Founder Securities and Associate Professor at the Guanghua School of Management, Peking University, analyzed and gave an outlook on the monetary policy.
Prof. Song Guoqing
Song Guoqing, Sinar Mas Chair Professor of Economics at the NSD and Special Think Tank Adviser, shed light on the relationships between interest rates and housing price.
After that, Professor Lu Feng summarized the views of the guests and asked relevant questions, and each guest answered his questions and interacted with audience.
Entrepreneurs’ Annual Meeting: Innovation, Growth and Management
In the afternoon, a parallel sub-forum around the topic “Entrepreneurs’ Annual Meeting: Innovation, Growth, and Management” was successfully held in the Wanzhong Building, Langrun Garden, NSD, and nearly 200 people attended it.
Prof. Ma Hao
Ma Hao, Fashu Chair Professor of Management at the NSD, served as the moderator of this session, and five guests gave wonderful speeches in succession.
Dai Baohua, Executive Director and General Manager of Sinopec Economics and Development Research Institute & China Petrochemical Consulting Corporation shared his thoughts on the construction of China’s “world-class” chemical energy engineering enterprises.
The topic of the speech by Song Zhiping, Chairman of China Association for Public Companies and former Chairman of the Board of China National Building Material Co., Ltd., was “My Years in State-owned Enterprises: What I Did Right.”
Wang Zimu, Chairman of the Board of Huatai Insurance, gave a keynote speech entitled “Climbing Up, Doing Good.”
The speech of Zhou Hongyi, Founder, Chairman and CEO of Qihoo 360, analyzed the impact of digitalization on traditional enterprises.
Prof. Chen Chunhua
Chen Chunhua, K.C.Wong Chair Professor at Peking University and Dean of BiMBA at the NSD, shared her research results on digitalization and corporate sustainable development in the past two years.
After the guests shared their views and thoughts, the entrepreneurs’ annual meeting also set aside time for Q & A between the guests and audience and ended successfully after that.
Finally, Professor Xu Jintao made a closing speech and showed his gratitude to every guest, audience, media and forum personnel for their support. After that, the Forum ended successfully. Let the voice of thoughts accompany us while stepping into 2020 and beyond, and let’s look forward to the 5th National Development Forum.
(Reported by Bai Yao and Wang Zhiqin)