John Ross, Senior Fellow of the Chongyang Institute for Financial Studies at Renmin University was interviewed by CCTV News World Insight programme on Davos Forum.
Wang Yiwei, director of the Institute of International Affairs at Renmin University of China, said, "China`s successful experience in the process of modernizing itself has greatly inspired and encouraged the Arab countries to explore their own developing pathways that adapt to their respective national conditions."
It`s being reported that China is expected to expand the investor team for local government bonds this year.The report quoted an official with China`s Ministry of Finance saying that the government is working to allow more participants in the program.
"Infrastructure is greatly needed for economic and social development in the Middle East," said Wu Sike, China`s former special envoy to the Middle East. "Chinese companies have been working with Arab countries in this area for a long time, accumulating a certain foundation."
Xi Jinping`s visit to Egypt, Iran, and Saudi Arabia this week takes China`s President to three of the Middle East`s most important states – a region which is simultaneously one of the world`s most important, with some of its greatest natural resources, but also one of the world`s most politically troubled. China`s foreign policy is significant for all aspects of the region as well as its global context.
Now, China and Iran aspire to revive the camel-trodden, garrison-guarded dirt trails of the Silk Road that vanished long ago in a modern context, and have promised to deepened cooperation.
China has already been the No 1 exporter of most its exported products, and there is an absence of foreign competition, which means the competition for these products exists only domestically, so there is no need for a currency competition.
The overlap of the Juncker Plan`s ideas with China`s Belt and Road initiative is evident. China`s new distinctive idea in the initiative, as with parallel ones such as the Asian Infrastructure Investment Bank (AIIB), is explicitly tying together trade and infrastructure investment initiatives.
Evidently, other countries including China will confront the same challenges with the US. In the past few years, China has carried out many major reforms. Medical and health insurance reform has been promoted since 2009. Currently, 95 percent of the overall Chinese population are guaranteed basic healthcare services. Yet, China is still facing a number of challenges.
John Ross, Senior Fellow of the Chongyang Institute for Financial Studies at Renmin University was interviewed on CCTV News World Insight programme on the RMB`s exchange rate.
Why are China and the US cooperating to resolve Afghanistan`s problem? The reasons are multiple including the US global rebalancing, the need for stabilizing Afghanistan and the region for mutual interest, the Afghan government`s inability to restore peace in the country and region, and China`s growing role in resolving international and regional issues.
If introducing the circuit-breaker mechanism was a small mistake, then hastily suspending it now is a huge error. These reckless regulatory acts not only dampen China`s image internationally, but also weaken international confidence in the Chinese stock market. If this confidence drops below their tolerance level, the Chinese market will face a worst scenario of isolation.
New data from the China Association of Automobile Manufacturers shows auto sales in China in 2015 increased 4.7 percent year-on-year, with 24.6 million vehicles sold. That growth rate in the world`s largest auto market is the slowest in 3-years.
The Chinese yuan`s exchange rate will be determined with more reference to a basket of currencies, as it faces persistent depreciation pressure against the US dollar, according to a senior economist with the central bank on Monday.
The Chinese authorities need to address three fundamental economic and governance issues this year.First, given the mismatch between its strategic deployment and tactical design. Second, short-term policies will not generate truly innovative enterprises. Third, China`s market reform, in many areas, has far outpaced that in the supervisory and administrative mechanisms and exposed the backwardness of its market supervision regime.
For the Chinese government, the priority in the past two years has been promoting the Silk Road Economic Belt and the 21st Century Maritime Silk Road worldwide, and seeking to achieve consensuses with relevant countries and international organizations (over 60 have said yes). In 2016, it will be the operation that counts.
Official data shows bad loans rose to a seven-year high of 1.2 trillion yuan or about 184 billion U.S. dollars as of the end of September.
Chinese economy still has huge room for development at a medium-to-long term. It is crucial to push forward the reform and opening-up and accelerate the innovation-driven transformation, nurturing new growth points to bolster the country`s international competitiveness, optimize the economic structure and improve people`s livelihood.
The four-day Central Economic Work Conference 2015 was wrapped up on Dec. 21, 2015. The conference was expected to be more profound as it would not only set the tone for the economic work in 2016, but also make a general plan for the next five years, both of which require much discretion. The conference, which came a little bit later than usual, however, sent many important signals as expected.
The Chinese government is set to reconfirm in its Five-Year Plan (2016-20) in March the aim of becoming a "moderately well-off society" by 2020.This will involve breaking out of the so-called middle-income trap that has ensnared developing countries, particularly in Latin America.