Weekly News Collection

BELT AND ROAD

China-ASEAN financial cooperation boosts ‘B&R’

On May 3, scholars discussed China-ASEAN financial cooperation under the “Belt and Road” initiative at a seminar in Beijing. Fan Zuojun, executive deputy director of the China-ASEAN Research Institute at Guangxi University, said that financial cooperation between ASEAN countries, significant players along the Maritime Silk Road, and China can help realize various agendas of interconnectivity. ASEAN countries differ greatly in financial development due to differences in economic development and industrial structure, said Li Jian, a professor from the Central University of Finance and Economics, adding that Singapore, Malaysia and Thailand have relatively developed banking, securities and insurance industries, while other ASEAN countries lag behind in financial markets. A financial support system is needed, Fan  added.

ECONOMICS

Report predicts 6.6 percent domestic growth in 2017

The Chinese economy is predicted to grow by about 6.6 percent this year, according to the Analysis on the Prospects of China’s Economy (2017) released at a news conference hosted by the Chinese Academy of Social Sciences (CASS) in conjunction with the Academic Division of Economics and the Institute of Quantitative and Technical Economics at CASS as well as the Social Sciences Academic Press. It is above the target of 6.5 percent set at the beginning of this year and within the range of 6.5 percent to 7 percent that China adopted in 2016. In the context of profound adjustments to the global economy, anti-globalization trends and increasing global uncertainty, the Chinese economy will grow steadily and continue to improve in structure, while its employment will remain stable in 2017. Scholars suggested actively implementing positive fiscal policy and moderately enlarging financial deficit while regulating and controlling monetary aggregates to prevent liquidity risks.

SUSTAINABLE DEVELOPMENT

Enhancing coordinated governance of energy, food, water

Recently, scholars called for coordinated governance of international energy, food and water at a seminar in Jinan on May 6. As climate change continues to worsen, issues of energy, food and water become increasingly intertwined, said Yu Hongyuan, director of the Institute for Comparative Politics and Public Policy Studies at the Shanghai Institutes for International Studies. Deterioration of each factor will affect the other two factors and pose threats to the country, the region and the world. Thus, it is no longer appropriate for nations to make decisions independently, and coordinated governance is needed, he added. Li Xinlei, deputy director of the Institute of Environment and Politics at Shandong University, said it is necessary to introduce a dynamic and diversified governance system while establishing a safety net of energy, food and water under the 2030 Agenda for Sustainable Development in order to build a community of common destiny for mankind.

POLITICS

Party-building studies to combine theory, experience

On May 6, experts discussed strengthening Party-building studies at a symposium in Shanghai. Shen Wei, executive vice-president of the Shanghai Party Institute of the CPC, put forward systematic, creative and pragmatic studies by examining experience since the 18th National Congress. Liu Honglin, head of the Shanghai Innovation Research Base for Social Sciences, emphasized the combination of responsibility, accountability and supervision systems to achieve political and social effects while enhancing working efficiency. Lu Xianfu, an adviser of the National Society for Party-Building Studies, said “theoretically, we should promote sinicization of Marxist theory on Party building.” In practice, we should summarize experience and achievements while adapting to changing conditions and tackling outstanding issues to strengthen Party self-discipline, he added.