Overview of CAIJING Annual Conference
2015 is a year of change. The road to recovery is fraught with challenges as the global economy remains in a state of correction and imbalance while financial and geopolitical risks are on the rise. The greenback is gaining strength as the US economy recovers while the euro is weakening with the economic downturn in Europe. In the emerging markets, weak growth has led to financial tensions. Globally, local conflicts have resulted in geopolitical unrest. The Middle East and Europe are grappling with a refugee crisis. New global issues are building up.
China bids farewell to rapid economic growth and continues its in-depth integration with the rest of the world. The "One Belt, One Road" initiative and the concept of "a Community of Common Destiny" put forward in 2015 are of great significance to its own development as well as the evolution of the balance of power in the world. The Chinese economy is at an important stage of multiple overlapping and accelerated restructuring, as well as financial reform and opening up. Its traditional drivers for economic growth are not strong enough, and eliminating excess production capacity and “bubbles”, deleveraging, easing restructuring pressure and achieving sustainable growth will be the constant focus throughout the Thirteenth Five-Year Plan period. Seeking new driving forces of economic development while guarding against risks will test the wisdom and reform commitment of policy makers.
The road to restructuring and development is one that is paved with hardships and contains countless twists and turns. With the innovative application of “Internet+” or "+Internet" in a growing number of industries, structural changes in the Chinese economy are emerging and its economic development can be expected to take a new turn. New plans for the reform of state-owned enterprises have been unveiled with focus on the steady push for more in-depth reform. There are new developments in “entrepreneurship and innovation” in the new concept and policy makers are placing increasing emphasis on giving play to non-governmental forces. With great volatility in China’s capital market, there is a pressing need for the country to strive for more liberalization of its financial sector and better institutionalization of its regulations. The real economy requires more effective financial support, and industrial restructuring and technological upgrading are necessary for global cooperation in production capacity and equipment.
In November 2015, the CAIJING Annual Conference will once again bring together political, business and academic leaders at home and abroad to conduct in-depth analyses of key topics in the world, look into future economic, political, social and technological development trends, and jointly seek a common path for sustainable prosperity in China and the world at large.