In the news Davos’ in Dalian: eco­nomic goals on agenda Growth tac­tic

China Daily (Canada) - - FRONT PAGE -

China’s eco­nomic de­vel­op­ment agenda is ex­pected to at­tract global at­ten­tion again next week when the World Eco­nomic Fo­rum holds its three-day sum­mer meet­ing in Dalian, Liaon­ing province.

It is the ninth An­nual Meet­ing of the New Cham­pi­ons, or the“Sum­merDavos”, to be held in China. More than 1,700 par­tic­i­pants­from90­coun­tries will at­tend the meet­ing from Sept 9 to 11, in­clud­ing gov­ern­ment lead­ers, busi­ness ex­ec­u­tives and global or­ga­ni­za­tion chiefs.

The stock mar­ket tur­moil and the yuan’s de­pre­ci­a­tion have trig­gered con­cern among in­ter­na­tional in­vestors of a deep­ened slow­down in the world’ssec­ond-largeste­con­omy.

The theme of this year’s meet­ing is “Chart­ing a new course for growth”. The gath­er­ing will fo­cus on six is­sues: trans­for­ma­tional science, in­dus­try dis­rup­tion, eco­nomic un­cer­tainty, China’s “new nor­mal”, en­vi­ron­men­tal bound­aries and “be­ing hu­man”.

Liang Lin­chong, deputy di­rec­tor of the Depart­ment of In­ter­na­tional Co­op­er­a­tion at theNa­tion­alDevel­op­ment and Re­form Com­mis­sion, said at a news con­fer­ence on Wed­nes­day, “This theme re­flects the com­mon con­cern of in­ter­na­tional so­ci­ety about rein­vig­o­rat­ing eco­nomic growth.

“In at­tend­ing the fo­rum, the Chi­nese gov­ern­ment wants to con­vey a mes­sage to the world that China’s gen­eral eco­nomic fun­da­men­tals re­main healthy.

“The gov­ern­ment will ad­here to its mar­ket-ori­ented eco­nomic re­form, put more ef­fort into in­no­va­tion to drive de­vel­op­ment, and con­tinue to up­hold the pol­icy for open­ing­win-win co­op­er­a­tion and mu­tual ben­e­fit.”

The meet­ing agenda in­cludes the yuan’s in­ter­na­tion­al­iza­tion and ex­change rate re­form, the new-energy strat­egy, the “In­ter­net-plus” plan— aime­dat­con­nect­ing the In­ter­net to tra­di­tional sec­tors such as agri­cul­ture, fi­nance, man­u­fac­tur­ing and lo­gis­tics — and in­ter­na­tional col­lab­o­ra­tion on in­dus­trial ca­pac­ity.

These is­sues have been stressed by the gov­ern­ment as key el­e­ments to sta­bi­lize growth amid the slow­down.

David Aik­man, chief rep­re­sen­ta­tive of­fi­cial in China and man­ag­ing di­rec­tor of the World Eco­nomic Fo­rum, said, “While the na­tional strate­gies and eco­nomic fun­da­men­tals are sound, in the short term we can ex­pect con­tin­ued volatil­ity be­cause an in­cred­i­ble trans­for­ma­tion is hap­pen­ing in China’s shift from an in­vest­ment-driven to ser­vice-ori­ented model.

“These trans­for­ma­tions are al­ways ac­com­pa­nied by volatil­ity and un­cer­tainty, but the coun­try’s growth prospects are still in­cred­i­ble.”

North­east­ern China, where Dalian is lo­cated, has seen the slow­est eco­nomic growth to date this year com­pared with other prov­inces and cities na­tion­wide, as its de­vel­op­ment model re­lies greatly on heavy in­dus­tries and tra­di­tional man­u­fac­tur­ing busi­nesses with over­ca­pac­ity.

Lu Lin, the city’s deputy mayor, said that dur­ing the meet­ing the city will sign co­op­er­a­tion agree­ments with Top 500 global com­pa­nies to pro­motein­dus­trial up­gradin­gand to im­port high tech­nol­ogy.

China has hosted the An­nual Meet­ing of the New Cham­pi­ons since 2007. This year is the fifth time that Dalian will have staged the event.

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