CAAS Member of Academic Committee Wang Tongsan Interpreted 2016 Report on the Work of the Government

On the morning of June 5, Mr. Wang Tongsan, Member of Academic Committee of CAAS (Chinese Academy of Social Sciences) was invited to speak at the Siwei Forum. His lecture was entitled “China’s Macroeconomics Problems”. More than 300 students came to listen to the lecture.

Wang Tongsan mainly interpreted the 2016 Report on the Work of the Government in his lecture. He mentioned that the Report was divided into three parts, the work review of last year, the main indexes of the next year, the key work of the next year. What was special about 2016 Report was that the “thirteen five” planning was added.

Mr. Wang Tongsan then reviewed the achievements and problems of government work in 2015. The achievements mainly reflects in the following five aspects: the economy kept going in a reasonable area, the development of new energy was great, structure reform was actively progressing, people’s life was improved, a batch of innovative products reached international standard. However, there were also problems, and they were: economic downward pressure was growing, over capacity was serious, investment was decreasing, export and import reduced, industry trends were differentiated, some enterprises were faced with the difficulty of manufacturing, financial balance contradiction was obvious, risks existed in the field of finance.

After that, Mr. Wang Tongsan stated main objectives and progress of 12 five-year plan, and pointed out that through five years efforts, China had stepped onto a new stage in economic capabilities, technological strength, national defense capabilities, and international influence. During 13 five-year plan period, the main objectives and great measures included: keep the economy going at an intermediate speed, push the industries to advanced level, strengthen the leading role of innovation, pour into driving force to the development, promote the development of new urbanization and agriculture modernization, promote the harmonious development between urban and rural regions, form green life style, fasten the steps of ecological environment improvement, deepen the reform, construct new system, continuously improve people’s livelihood.

Finally, Mr. Wang Tongsan emphasized that social economic development must assure three things: emphasize development, push structure reform, speed up transformation, in order to accomplish the goals by the end of 13 five-year plan.

The lecture was a great success and ended in warm applause of the audience.