8th Caixin Summit Kicks Off, Focusing on “Reform Revitalized”

The Eighth Caixin Summit: “Reform Revitalized” kicked off in Beijing on November 15, 2017, bringing together over one hundred of world-renowned economists and experts from across fields of politics, business, academics and more than a thousand distinguished guests. The summit will feature three days of discussions, presentations and dialogue on a wide range of issues regarding the global political and economic situation, advancing the all-round reform and realizing high-quality sustainable growth of the Chinese economy.

At the opening session of the summit, two live video conferences were held between ZHU Min, former Deputy Managing Director of International Monetary Fund(IMF) and Jean-Claude Trichet, Chairman of the Group of Thirty (G30) and former president of the European Central Bank, and between Zhu Guangyao, Vice Minister of Ministry of Finance of the People’s Republic of China and Jacob Lew, former Secretary of Treasury of the United States of America. Jean-Claude Trichet stressed that the world has not fully out of the crisis yet and inflation is low, and we must remain cautious as inflation has not met expectations in Japan and the United States. Jacob Lew pointed out that the real test for RMB exchange rate will appear when RMB is under pressure to appreciate, at which time, he hopes, China could stick to its exchange rate policy already set.

On the reform situation, Hu Shuli, Founder and Editor-in-Chief of Caixin Media said in the opening remarks that the 19th National Congress of the Communist Party of China can seem to be the mobilization order of Reform Revitalized when facing the difficulty of “deep-water area” reforms. The steady recovery of the global and Chinese economies has created good conditions for promoting many reforms. Reform of the financial regulatory system is a top priority and urgent when deepening the all-round reforms. Moreover, reform on state-owned enterprises, land, finance and taxation also need to be accelerated. Reform decisions need to be "problem-oriented" and the effectiveness of the solution will be the sole criterion for testing its success or failure.

Hu said that future reform is bound not to be going smoothly. It will only be possible to break down the cumbersome concepts and barriers of solidification when reform works tirelessly under the established framework of the main body and comprehensive, deep and groundbreaking actions.

The 8th Summit focuses not only on the hot topics as the current global economy, the trend of the macro economy of China, the latest development of the “Belt and Road Initiative”, the digital revolution, the new economy, and Fintech, but, in the special sessions of the summit, the subjects of education, the rights and responsibilities of entrepreneurs and the development of future cities will also be addressed. Besides, the summit will set up a special science session STEP Forum, inviting those heavyweight experts from the forefront of science and technology and a number of perspectives to explore the original momentum of human development, and to share their outlooks on the future blueprint of science and technology for topics including Gravitational Wave, Artificial Intelligence, Gene Editing and other cutting-edge science.

In addition, during the Summit, “The 3rd China Sports Industry Forum: Breaking the Logjam” will be held. Topics including the China-Africa cooperation, the leaders of media transformation, energy, healthcare, the upgrade of consumption, women’s leadership, commodity trading risks and new youth, etc. will be addressed in the parallel sessions by experts from a variety of fields concerned.

Lord Adair Turner, former Chairman of UK Financial Services Authority, senior research fellow of the Institute for New Economic Thinking and other leaders of economic field are invited. YIN Yong, Deputy Governor, The People’s Bank of China, YU Xuejun, President of Board of Supervisors for Key State-Owned Financial Organizations, China Banking Regulatory Commission and LI Chao, Vice Chairman, China Securities Regulatory Commission will attend the summit and give speeches. The leaders in economic and finance area like Huang Qifan, Zhu Guangyao, Liu Shijin, Li Yang, Gao Jian, Tu Guangzhao and Chen Zhiwu, and VIP business leaders like Wang Shi, Wang Jianzhou and Zhang Xin will also take part in the summit.

“The Caixin Summit” is one of the most authoritative and forward-looking annual events in the economic arena of China. Strongly influential, on every previous occasion the Caixin Summit was gathered with a hundred of guest speakers and over a thousand guest participants covered by a hundred major media from home and abroad and over two thousand exclusive reports and footages in mainstream media. The Summit has always stayed on top of the current topics in China and the world in large with themes of previous summits being China Strategy in Global Transformation, Strategizing Substance Growth, New Horizon, New Vision and New Growth, Recharging Reform, New Normal & New Reform, and Charting a New Course and The Reality of Reform: Substance and Expectations.

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