On the afternoon of March 20, Director of the Financial Research Institute of CICB Dr. Zhou Yueqiu present ed the lecture “Economic situation analysis and banking reform and development outlook" for MBA and MF students of the School of Economics and Management, UCAS.
First Dr. Zhou summarized the main characteristics of macroeconomic operation in China. He pointed out that four important points have played a key role after the financial crisis. It has important influence on judgment about continued downward of the economic growth. The four important points are: Demographic dividend declined due to negative growth in the working age population, real-estate development entered into a new stage as the average family housing more than one in the town, infrastructure construction facing the challenge of high local government debt, and the global trade growth slowdown effected “made in China”. Although China's macro-economy exists "four down one up" problem (economic growth declines, commodity prices falls, the entity enterprise profit declines and economic risk probability rises), there is also a bright spot. In 2015, for example, employment situation was stable. 13.12 million new job vacancies for urban residents were expected. Positive progress was made in structural adjustment and the proportion of service industry increased substantially. Consumption accounted for nearly 15 percent in the situation of the falling of prices. All these achievements are bright spots.
Looking to China's long-term economic trends, Dr. Zhou believes that China has entered the late stage of industrialization. Therefore, rapid growth is harder after the economy reaches a certain degree of growth. Dr. Zhou interpreted the integration of the Beijing-Tianjin-Hebei region, the Yangtze river economic belt, "One Belt And One Road" regional strategy etc. His speech deepened students understanding of major issues.
Finally, Dr. Zhou introduced the banking reform and development measures, such as customer orientation, diversified, light capital guidance, general principles of the market-oriented etc. He also vividly described ICBC development in such aspects as e-commerce, overseas expanding. His speech aroused the interest of the students.
