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2016 National Governance Forum: Focusing on China’s New Economy and Unleashing New Dynamism

Source: Xinhua News Agency Date: 2016-11-24




The 2016 National Governance Forum co-hosted by COSC and www.news.cn was held at the Capital Hotel, with a focus on “new normal, new economy and new dynamism”.


COSC Chairman Wang Zhongwei spoke at the opening ceremony.


Deputy President of Xinhua News Agency and Deputy Editor-in-Chief Zhou Shuchun addressed the opening ceremony.


Roundtable “Sharing Economy, a New Development Model”


Forum in session.

The 2016 National Governance Forum, co-organized by COSC and www.news.cn, was held at the Capital Hotel on November 24th. Participants focused on the new economic normal and explored new growth drivers. More than 400 participants attended the forum, including leading officials of State Council departments, counsellors of the State Council and research fellows of COSC, counsellors of local governments, as well as experts, entrepreneurs and journalists.

Ma Jiantang, Executive Vice President of the Chinese Academy of Governance, Wang Zhongwei, COSC Chairman, Zhou Shuchun, Xinhua News Agency Vice President and Executive Deputy Editor-in-Chief, Gu Shengzu, Vice Chairman of the NPC Economic and Financial Committee and Vice Chairman of the Central Committee of China Democratic National Construction Association, Zhang Ruimin, Chairman and CEO of Haier Group and Xian Zude, Chief Statistician of the National Statistics Bureau, attended the opening ceremony and delivered keynote speeches. COSC Vice Chairman Zhao Bing chaired the forum.

Wang Zhongwei said in this speech that the development of a new economy is not only compatible with the new economic normal, but also consistent with the vision for innovative, coordinated, green, open and shared development. It is also an important part of the supply-side structural reform. The new economy will meet the new needs and improve the quality and efficiency of the supply system. It serves China’s efforts to transform and upgrade the economy and improve the efficiency. More efforts need to be made to streamline administration and delegate power, improve services, and create new drivers of growth through supply-side structural reform.

Zhou Shuchun said that under the new economic normal, new growth drivers have developed faster than expected. The new economy driven by new technologies, new models, new formats is playing an increasingly important role in economic development. To create new growth drivers, there must be institutional and theoretical innovation.

The Chinese economy, though under downward pressure, has made steady progress better than expected. The quality and efficiency of economic development has been improving, with stronger momentum and new business formats.

In keynote speeches, speakers focused on how to create new economic drivers and upgrade the economy. Ma Jiantang said that new growth drivers had developed rapidly, as evidenced by sharing economy, digital economy, bio-economy, green economy, creative economy and smart manufacturing. These provide strong support to China’s economy as it moves up the value chain. The fast growth of the new economy will help China seize the opportunities of the new scientific and technological revolution and industrial revolution, narrow the gap with developed countries and secure an advantageous position in development.

Mass entrepreneurship and innovation is becoming a new engine for economic growth. Gu Shengzu believed that innovation is crucial for the supply-side structural reform. Innovation-driven development has three engines, one of which is mass entrepreneurship and innovation. This is also China’s version of supply-side economics and represents a great effort made in supply-side structural reform.

What can traditional businesses do with the Internet? Haier Chairman and CEO Zhang Ruimin held the view that in the Internet age, big companies must have an Internet thinking and use the Internet for management. The traditional management model relies on classic management theories, which are not only outdated but also have been subverted. Now it is important to meet the personalized needs of users. The production line can only produce on a large scale.
The measurement of the new economy is a challenge for the whole world. Chief Statistician of the National Statistics Bureau Xian Zude said that the new economy plays a very important role in product, technology and organization innovation and in economic upgrading. It is important to develop ways (standards, indicators and accounting principles) measure the new economy in the context of Internet and big data.

This year’s National Governance Forum has roundtable sessions on four topics: “Digital Economy: Trends of the Future”, “Sharing Economy: A New Development Model”, “Intelligent Manufacturing: Creating New Engines”, “Creative Economy: Fostering New Business Models”. Alibaba President Jin Jianhang, Counsellor of the State Council Qiu Baoxing, Vice Minister of Industry and Information Technology Huan Jinpeng, Director of the Palace Museum Shan Jixiang made keynote speeches on “Building an inclusive and shared new economy”, “Focusing on Public Goods in Designing Smart Cities: Building A New Model in Energy Conservation and Emission Reduction” , “Information Industries and Digital Economy: Opportunities and Challenges for Strengthening Manufacturing and Internet Capabilities” as well as “The Role of Museums in Creative Economy”.

The National Governance Forum is a signature event hosted by COSC. Six sessions have been held, bringing together members of the political, academic and business communities. Every year, a major issue in China’s economic and social development is chosen for discussion and deliberation to build up consensus and provide policy recommendations.