2014 China Economic Situation Seminar, Dec 21-22, in Beijing

The 2014 China Economic Situation Seminar was held on Dec 21 – 22, in Beijing, which brought in more than 1,200 participants from local governments and State-owned and private enterprises to get the opinion of experts and scholars on the country's economy, in 2014, with sponsorship from the Information Center of the Development Research Center of the State Council (DRC).

Chen Changzhi, vice-chairman of the National People's Congress Standing Committee, giving the keynote speech

Li Wei, minister of the DRC, addressed the gathering by explaining the ideas of the Third Plenary Session of the 18th CPC Central Committee in November and upgrading China’s economy, noting that the changing situation both in China and abroad is pushing it to an economic transformation and deep reforms. The vice-minister of DRC, Liu Shijin, followed with a speech about how the economy is undergoing a change from a period of 10-percent growth to the growth with intermediate speed, during which time the country needs a new normal growth rate for profitable enterprises, increased public finance, full employment, controlled risks, improved livelihoods, and sustainable resources and environmental protection.

Li Wei, minister of the DRC, addressing the gathering

As far as 2014 goes, another vice-minister, Zhang Junkuo, opined that the economy will remain unchanged and stable, followed by the vice-chairman of the National People's Congress Standing Committee, Chen Changzhi, and the former vice-director of the National Development and Reform Commission, Zhang Guobao, explaining China’s energy situation and strategies.

Zhu Guangyao, the vice minister of the Ministry of Finance, was of the opinion that China's economic development environment is still uncertain and commented on the Federal Reserve’s exiting its quantitative easing policy, world trade patterns and changes, and the international financial supervisory system.

Yan Qingmin, vice-chairman of the China Banking Regulatory Commission, gave an analysis of the risks and opportunities in Chinese banking and promised to continue reforms in the banking business, after which Zhang Chenghui, director-general of the DRC Research Institute of Finance explained the focus of China’s financial market reforms and monetary policies.

Another speaker, Qi Bin, director of the China Securities Regulatory Commission, gave his own understanding of financial reforms, opportunities, and challenges in China’s capital markets, and key developments in capital market reforms.

There were also speeches on the foreign trade situation, macro-economic situation, new type of urbanization, and real estate development.