China Development Forum guests predict China could maintain medium-to-high economic growth

2019-03-18 17:17:46 source: CCTV Plus客户端

China is capable of maintaining a medium-to-high economic growth in the remaining quarter of this year, according to participants in the China Development Forum 2018.This prediction was made by guests attending the special session of the forum, which was held in Beijing from Sept 16-17. It is based on the discussion of key topics such as how much potential is yet to tap in China’s economic growth and the development trend of China’s economy in the second half of this year. "China promises good potentiality for development. As long as we continue deepening reform and tap the potentials, I believe China can maintain a medium-to-high growth,” said Justin Lin Yifu, honorary president of the Institute of the National Development Research, Peking University. The experts hold that China's development potential is manifested in the optimization of the consumption structure, as consumption has become a major pull of economic growth. The rising consumption demand has put a higher demand on product quality and added value. "The food and beverage sector used to focus on safety. But now, as the common people have a higher demand, we must produce more health food," said Zong Qinghou, board chairman and CEO of the Wahaha Group. The key to unleashing the growth potential lies in deepening reform and opening up, according to experts.  "If enterprises lack vitality, the macroeconomic policies will come to nowhere, no matter how good they are . It is, therefore, essential to put the focus of reform on how to excite the vitality of the three major market players,” said Yang Weimin, deputy director of the Economic Committee of the CPPCC National Committee, "By further opening up, China will not only benefit the more than 1.3 billion Chinese people, but also steer the global economy onto the strong, balanced, inclusive and sustainable path of development,” said Li Wei, head of the Development Research Center of the State Council.