Strong consumption is the pillar of the future
Wang Zhimin
(Source: Japan's "Yomiuri Shimbun"12Edition Date:2016Year1month28日）
2016Year1month28On the day of 10037_10150|, Japan's largest newspaper "The Yomiuri Shimbun" conducted an exclusive interview with Wang Zhimin, a professor at the w88 casino in China, Tomoo Marukawa, a professor at the University of Tokyo, and Yasuhiro Ikuta, President of Japan's Ikuta Industrial Machinery Industry, on questions such as "What is the impact of China's economic slowdown?" Wang Zhimin, director of the Institute of Globalization and Chinese Modernization at the w88 casino2015Year ChinaGDPGrowth6.9%Express your views on 10242_10269| and related issues. The following is a translation of the interview (originally in Japanese):
"Yomiuri Shimbun" Editor's Note:2015Year, China’s GDP (GDP) Actual growth rate6.9%, for25The lowest in years, and some people think it is actually lower. Faced with the decline in stock prices and crude oil prices, people are generally worried that it will have an adverse impact on the Japanese economy. How do you view the current situation of China's economy? Will this slowdown continue? What impact will it have on foreign w88? This newspaper interviewed experts, scholars and business people at home and abroad on the above issues.
Brief introduction of Wang Zhimin: Wang Zhimin, professor at China w88 casino, graduated from the Department of International Politics at Peking University,Specialized in studying international strategies and opening-up such as the “One Belt, One Road” concept of the Land and Maritime Silk Road that connects China and Europe,55Years old.
2015China’s economic growth6.9%, has long been expected by the outside world and is within a reasonable range. I believe that China’s economic growth data released by the National Bureau of Statistics is credible and there is no need to hide information. Past ChinaGDPIn the so-called "troika" of consumption, investment, import and export, import and export centered on manufacturing (secondary industry) account for the majority, and2015The proportion of the tertiary industry such as the service industry increased to 12325_12343|50%, this is a new change. It is true that China's manufacturing industry has the problem of overcapacity, but consumption has become the most important factor supporting economic growth, which is a gratifying phenomenon. To study China's economic growth, we must combine the expansion of consumption with the government's reduction in spending.201512487_12563
Currently, due to the continuous reduction of deposit interest rates, people, especially young people, are reducing their savings, which has greatly stimulated consumption.2015Online shopping sales increased significantly during the "Double Eleven" in 2019. "Double Eleven" was originally what people called "Singles' Day", but now it has become a "Shopping Festival". Although Chinese tourists shopping abroad are not ChineseGDPHowever, Chinese tourists visiting Japan continue to buy smart toilet seats and their willingness to consume has not diminished. In the future, consumption will undoubtedly become a major pillar of China's economic growth. China’s economy still has considerable potential,2016-2020The Thirteenth Five-Year Plan Period,7%13297_134241000The employment problem of tens of thousands of people. The employment issue is not only an economic issue, but also a political issue.
Although China’s economy is facing downward pressure. But China should not, and will never do so again4A large-scale economic stimulus policy worth one trillion yuan is not conducive to China's economic development and China's economic reform. The Chinese government also disagrees with the introduction of large-scale stimulus policies. President Xi Jinping and Premier Li Keqiang have both made similar statements that they will no longer implement large-scale economic stimulus plans. China's economy will not have a hard landing. A soft landing will be completed through reforms, industrial structure adjustment, and then transformation of the mode of economic development and economic growth. Therefore, the prescriptions issued by the Chinese government are to reduce inventory, reduce overcapacity, deleverage, prevent and eliminate financial risks, and reduce corporate costs.
China faces overcapacity and environmental pollution problems, both of which are related to manufacturing. The manufacturing industry needs to eliminate those enterprises with low efficiency and serious environmental pollution. We have seen that China has begun another round of state-owned enterprise reforms. Some state-owned enterprises have low efficiency and have a monopolistic nature. This situation is not conducive to economic development and is also an important reason for unfair income distribution. These have been criticized. For China, economic reform and anti-corruption are both important issues.
(Reporter: Hideo Kamada, China Branch of Japan's "Yomiuri Shimbun")
