On June 23rd, as an important part of the 75th Academic Anniversary Celebration of Zhongnan University of Economics and Law (ZUEL), the Policy Summit Forum of the Chinese Economists Society 2023 Annual Conference, hosted by the Chinese Economists Society (CES) and organized by the School of Business Administration (SBA), was held at the Simultaneous Interpretation Conference Center in Wenhuan Building of the Nanhu Campus, ZUEL. Prof. Liu Renshan, Vice President of ZUEL, delivered a speech and extended a warm welcome to the guests in attendance at the conference on behalf of the university. He also expressed sincere congratulations on the successful convening of the conference. He strengthened the importance of hosting the annual conference in ZUEL and encouraged experts and scholars attending the conference to research vital proposals concerning the development of China and other countries and explain them from multiple perspectives. Prof. Wu Haitao, Dean of the SBA, presided over this part.
In the session of “2+2+2” keynote speech, six renowned scholars from Peking University, Southwestern University of Finance and Economics, Texas A&M University, Beijing Normal University, Huazhong University of Science and Technology, and Capital University of Economics and Business were grouped into pairs. Each pair delivered speeches on different themes, namely: “The External Environment and Internal Dynamics of China's Industrial Upgrading,” “Chinese Household Consumption in the New Development Paradigm,” and “Theory and Practice of the Belt and Road Initiative.” This part was presided over by Prof. Yang Yanqing, the Minister of the Planning and Development Department at the Shanghai Artificial Intelligence Laboratory and a visiting professor at the School of Economics, Fudan University.
Prof. Yao Yang, Dean of the National School of Development at Peking University, and Prof. Wang Yong, Vice Dean (Academia) of the Institute of New Structural Economics, delivered keynote speeches at the conference focusing on “The External Environment and Internal Dynamics of China's Industrial Upgrading.” Prof. Yao Yang delivered a keynote speech titled “Understanding the Changing Global Economic Landscape with Rationality.” He delved into various aspects including economic trade, the industrial transfer and restructuring in Asia, and the technological decoupling between China and the United States, through which he conducted in-depth research on strategies for China to adapt to the changing global economic landscape. He emphasized that the “China-US competition” provides China with an opportunity to actively contribute to shaping global rules. Prof. Wang Yong, based on the “vertical structure” and the “sandwich” model of the Chinese economy, summarized the opportunities and challenges in constructing a modern industrial system in China. Prof. Wang Yong believed that it is essential to unify the construction of a “promising government” and an “effective government.” He stressed the importance of enhancing the existing policy framework through measures such as nurturing prominent enterprises and managing the relationship between state-owned enterprises and private enterprises effectively.
Keynote speeches about “Chinese Household Consumption in the New Development Paradigm” are given by Prof. Gan Li, Director of the Survey and Research Center for China Household Finance at Southwestern University of Finance and Economics and a tenured professor in the Department of Economics at Texas A&M University and Prof. Yin Zhichao, Member of the Standing Committee of the Party Committee and Vice President of Capital University of Economics and Business. Prof. Gan Li presented the latest research findings in “Comparative Analysis of Household Consumption Rates between China and the United States.” He compared the status quo of household consumption between China and the United States based on the introduction to the accounting method for household consumption data in China. He then emphasized significant differences in household consumption between these two countries and further analyzed the specific factors behind these differences. He believed that ways including allowing withdrawal of pension funds ahead of time and stepping up unemployment insurance are efficient to increase the overall consumption rate. Prof. Yin Zhichao, in his keynote speech themed “Digital Economy and Household Consumption in China,” underscored the importance of expanding household consumption under the guidance of the concept of a new development paradigm and discussed the significance of the digital economy on consumer behaviors on the basis of empirical results. He suggested that there are growing problems in household consumption in China, including low consumption levels, high Engel coefficients, and consumption inequality. To address these problems, he proposed policy support can be strengthened through measures such as improving last-mile logistics, promoting the construction of new digital infrastructure, and improving digital literacy among residents.
Economics Professor Hu Biliang, Executive Dean of the Belt and Road School at Beijing Normal University, as well as the Dean of the Emerging Markets Institute and Prof. Zhang Jianhua, Dean of the School of Economics at Huazhong University of Science and Technology, delivered speeches on the topic “The Theory and Practice of the Belt and Road Initiative.” Prof. Hu Biliang addressed the topic of “Investment Risks Prevention in the Countries along the Belt and Road.” He elaborated on the practical and theoretical foundations of jointly building the Belt and Road Initiative from three perspectives: new dynamics, new opportunities, and new development. Additionally, he set up a risk assessment index system to evaluate the potential risks that China may encounter when investing in the partner countries of the Belt and Road Initiative. Furthermore, he proposed investment risk aversion strategies that could serve as valuable references for Chinese governments, enterprises, and scholars. Prof. Zhang Jianhua delivered a thought-provoking speech titled “Practice and Theoretical Reflections of the Belt and Road Initiative: A Study from the Perspective of Development Economics.” Concentrating on three aspects, namely the facilitation of new globalization through the Belt and Road Initiative (BRI), the advocacy and implementation of a novel development philosophy and the promotion of a new model of cooperation and development, he shed light on China's active involvement in global governance through the BRI, through which China's role in the international community has transformed from a beneficiary of the world's development to a driver of the development.
After the conclusion of the keynote speech session, a private symposium was held with the focus on “Advancing the Development of Chinese Economy in a High-quality Way.” The symposium brought together esteemed deans from schools of economics and management at Peking University, Texas A&M University, Fudan University, Nanjing University, Wuhan University, Shandong University, Southwestern University of Finance and Economics, Jinan University, Liaoning University, Hefei University of Technology, and Zhongnan University of Economics and Law and so on.
The official agenda of the Chinese Economists Society 2023 Annual Conference will take place from June 24th to 25th. The theme of the conference is “Advancing the Development of Chinese Economy in a High-quality Way.” Three Nobel Memorial Prize Winners in Economic Sciences including Prof. Eric Maskin from Harvard University, Prof. Alvin Roth from Stanford University, and Prof. Joshua Angrist from the Massachusetts Institute of Technology (MIT), as well as Prof. Justin Yifu Lin from Peking University, were invited to conduct four keynote addresses. Additionally, six invited forums and 88 parallel forums will be set in the conference, further highlighting its status as a high-level, cutting-edge, multifaceted, and large-scale event. The successful hosting of the conference will encourage more economists at home and abroad to participate in Chinese economic research and advance it. They will make contributions to strengthening the communication between China and the rest of the world and promoting the high-quality development of China. Additionally, the conference added glorious academic charm to the 75th Anniversary Celebration of ZUEL.
