By Tian Hui, Research Institute of Finance, DRC

Research Report, No. 61, 2020 (Total 5805) 2020-3-27

Abstract: According to the predictions made by the OECD (Organization for Economic Co-operation and Development), in the context of the global economic performance, China’s economy, despite the present declining growth, will maintain a robust development in the long run and enjoy the potential for further advance bolstered by structural reforms. At the same time, it warns that China will face four major challenges on its way forward including economic rebalancing, the maintenance of efficiency, fairness and stability, the shortage of professionals in the field of digital economy and risk management for climate change and environmental pollution. China could draw on some references from OECD’s predictions and warnings. We need to promote global and regional cooperation to jointly cope with risks of downward economic growth, steadily abide by the new development philosophy, further the reform and opening up, enhance investment structure to improve the quality of economic development and improve the disaster prevention and emergency management system.

Key words: economic prospects, challenges, China, OECD