HU Shuli, Publisher, Caixin Media
Due to various anti-pandemic stimulus policies launched by governments around the globe on both sides of supply and demand, people have been generally optimistic about the prospect of global economic recovery this year. However, the possible post-stimulus inflation risk and the socio-economic inequalities intensified by the pandemic have led the regulating role of upcoming macro-policies to be a certain cynosure. How to achieve the inclusiveness and sustainability of growth and enhance the resilience of the supply chain in the period of regular epidemic prevention and control will put the governance capabilities of all governments, including China’s, to test. On charting the next five years, China’s 14th Five-Year Plan even takes one step beyond to further develop a long-term vision for 2035. Retaining three conventional goals of economic development, innovation drive and the people’s livelihoods, the plan prioritizes the green ecology specifically. Moreover, it highlights social safety-net, especially for food and energy, in a world shaken by increasing instability and uncertainty. How to propel technological innovation to activate the “internal circulation” in China? How to upgrade and accelerate consumption? How to promote the new urbanization and coordinated regional development? Moreover, the signing of the Regional Comprehensive Economic Partnership (RCEP) and the next move of Sino-US economic and trade relations will definitely impact and change China’s “great international circulation”
The sudden attack and counter-force of the pandemic has accelerated the growth of the smart economy. More capital is flooding into smart tech as China's policies that promote the reform of the Science and Technology Innovation Board and the pilot registration-based IPO system, breakthroughs in "bottleneck" technologies, and domestic substitution of sci-tech innovation. What are the existing bottlenecks and challenges in transforming traditional industries towards digitization and intelligentization? How can tech start-ups secure advantage in the industry? What are new technologies and trends deserving special attention in smart economy?
In the context of economic downturn and deleveraging, cases of corporate bankruptcy reorganization have been rising in recent years, as corporate defaults have become normal in China’s bond market. How can every market player, from companies, local authorities, to financial investors and regulators, lead and supervise defaulting enterprises to curb "evasion of debt repayment" and protect the legitimate rights and interests of the financial creditors? What are the standards for bankruptcy administrators to conduct due diligence? How to strengthen the weak legislative links in bond default disposal while improving bankruptcy efficiency? How to achieve successful clearance through market-oriented and legalization approaches?
Green finance is critical for the goals of peaking carbon emissions and achieving carbon neutrality. The next question is, how can the green finance industry meet the financing needs of traditional industries going green? How can we improve the carbon trading market to prepare for future challenges? How can we optimize green bond standards and climate information disclosure to encourage more international investment and cooperation?
As Chinese residents are getting into middle- and high-income status and their consumption continues to upgrade, cultural demands are increasingly diversifying in China. From films, TV programs, variety shows, music to art, either popular or highbrow culture is growing fast to bloom. With the evolving digital economy, what new characteristics and patterns are featuring the production level of cultural products? And what challenges and opportunities lie ahead for cultural entrepreneurship of the new generation?
Art is becoming a popular asset for high-net-worth individuals. It is an important investment market in addition to stocks and real estate markets. The saying goes: "Collect art in the golden ages, trust gold in turbulent times." As the capital market fluctuates during the pandemic, how has the demand changed for artworks with both collection and investment attributes? How can we expect from the financialization of art?
High-quality educational resources are scarce in China. To be one step ahead of everyone else in the fierce competition, parents make plans on school district housing, cram schools and extracurricular training. How do educators from prestigious schools view this phenomenon? How will this "involution" impact the ecology of the education system? How can we protect children’s mental health? Along different stages of personal growth, how should parents and schools foster to comprehensive development and get out of the "involuted" education?
Financial technology is booming in China in the recent years. With continuous innovation, it has been widely applied to various fields including digital currency, financial infrastructure and regulation, laying a solid foundation for high-quality growth of the whole financial industry. Specifically, the digital currency has gained widespread market attention and popularity. Major economies including China are accelerating the development and testing of central bank digital currencies (CBDC). How can financial technologies support the high-quality growth of financial industry? How can fintech empower the real economy by becoming more data analytical and financial inclusive? How will digital currency impact the existing payment system and currency structure? What are the new challenges for financial regulation?
Female power is rising against the backdrop of global uncertainties and challenges. Facing changing economic orders, iterative technical innovation and upgrading lifestyle, women are striving for excellence in the areas of family, education, business, politics and economy, exerting social influence and leading development of the age. How to understand “female power”? How to leverage She-power to inspire more Asian women to achieve personal value as well as social value?
We are facing a myriad of new and longstanding challenges, from climate change, the ongoing pandemic, socioeconomic inequality, data security to platform monopoly. They call for adjustments in our economic model. China’s 14th Five-Year Plan and 2035 Vision embraced the idea of sustainable development and high-quality growth, beckoning transformation across capital and business models and leaders to advance sustainable development and innovative commercial ideas.
The release of the 14th Five-Year Plan and 2035 Vision has accelerated China’s transition towards sustainable development and high-quality growth. Simultaneously, the ongoing COVID-19 pandemic is compelling the international community, including China, to further reflect on the pitfalls of the existing economic models and human behavior patterns. Transformation of financial and commercial models is desperately required. What new tides are rising in global business? Can ESG and impact investing work as effective tools to direct capital and businesses as forces for good to tackle social problems and foster a stakeholder economy? How can we promote ESG and impact investment in China? What can we learn from international experiences?
China’s recent declaration of its carbon peak and neutrality goals signified its resolution to become a low-carbon economy and society. Top-level design, market forces, technological empowerment, and social mobilization are all indispensable. How can China achieve net zero? How do we break down the macro objectives to make actionable plans? What are the prospects of the national carbon market? How can enterprises and financial institutions contribute towards these goals?
Former British prime minster’s remarks come as Britain prepares to host UN conference on climate change next year
However, sustaining growth is going to be ‘much more difficult and challenging,’ Erik Berglof told forum
Former U.S. treasury secretary says the world’s two largest economies are ‘sharing a lifeboat in a turbulent sea a long way from the shore’
About 60% of all Chinese domestic assets are now accessible to foreign investors, up from just 1% in 2015, according to Ray Dalio
Data provider’s Vice President Daniel Yergin tells forum that China and India are both seeing rising oil demand
Xu Xianchun, former deputy NBS chief, calls for overhaul of national accounts to include booming digital economy, spotlighting a global problem
Xavier Bettel tells forum we are ‘witnessing a loss of trust in multilateral institutions and among international trade, and also investment, partners’
Zhou Xiaochuan reiterates China’s commitment to multilateralism while other countries ‘pass the buck’ on international support
Lou Jiwei also says Beijing should look to normalize its monetary policy as the country pulls out of the pandemic
Chan Chun Sing says economic self-isolation is not a viable option
Pascal Lamy says that states engaged in ‘a lot of competition, very little cooperation’ but civil society picked up the slack
The 11th Caixin Summit, themed ‘Rebuilding Global Trust,’ opened Friday in Beijing and Singapore. The annual summit invited experts from around the world to discuss economic, political and social issues. A key theme this year is how to plan for post-coronavirus development, though many countries are still grappling with the epidemic
The theme of this year’s Caixin Summit is “Rebuilding Global Trust” on which long-term relationships and mutual benefits are built
Kristalina Georgieva says top priorities are to exit Covid-19 crisis, ensure governments continue fiscal, monetary policy support
Covid-19 is teaching us we have to think of other countries and start to trust each other again, scientist says