[ About Us ] [ Join Now ] [ Contact Us ] [ Member Center ] [ Chinese ] [ Research ]  
SUBSCRIBER LOGIN
Home - Special Coverage >> Events
China Commodities Forum & 2017 Mysteel Annual Meeting - Wang Depei: Chinese Economy under the New Normal
Dec 20, 2016  10:06:57
View Full-size Page Here
Professor Wang Depei, Vice President of the China Society of Economic Reform and Chief Economist of Forecast Thinktank, delivered a speech on Chinese Economy under the New Normal, saying that China’s economic growth is likely to be kept at a rather stable level.
 
Prof. Wang was well welcomed by the audiences.
 
Wang pointed out that China’s economic policies tend to be more supportive to entity economy than to financial economy.
 
“Chinese economy won’t break down as expected by many western economists,” he predicted, “China’s economic growth will remain stable. Old forms of economy have yet to retire from the world but emerging economies are blossomy.” However, these emerging economies may entail risks that are not perceived by many.
 
According to Prof Wang, the devaluation of RMB is much due to fears prevailing among the market participants. He holds that Chinese economy is progressing too rapidly in marketization, leading to oversupply of money. The monetary settlement has fostered the foreign trade; China’s land has absorbed a big proportion of excess money supply. Based on the two points above, Chinese yuan has no reason to devalue, not to mention to depreciate over a long time.
 
Symbolised by the rise in US interest rate late this year, Wang expected that there will be a possible risk of a second financial crisis, some currencies will, as a consequence, collapse but the US dollar and Chinese yuan will remain comparatively firm.
 
At last, the professor suggested that there is not a simple ‘yes’ or ‘no’ to the future. Policies and strategies remain uncertain. It is very important for us to be visionary, to see the world today in the future-bound perspective. As for the iron and steel markers, Prof. Wang ascertained that the darkest time for iron and steel market is over.
 
-Edited by Mysteel.net
-To contact the editor on this report at zhangwd@mysteel.com

 

Sell & Buy
·billet 3sp, 5sp, rebar , wire rod    Feb 10
·Need Hot rolled strip 355mm to 685mm,    Oct 14
·triangular tube    Oct 13
·need St37, St52, A516 Slab    Aug 25
·Need HR Steel coil     Aug 23
·Need Seamless steel pipe     Aug 23
Issue Your Inquiry>>>
 
·GI Wire Zinc Coated    Jul 05
·Power station air cooler base flat tube    Mar 28
·SA;ES OF IRON ORE    Mar 15
·    Mar 15
·MS HR steel sheet regular requirement    Mar 04
·mill scale    Aug 20
more>>
About Us | Contact Us | Join Now | Events | Links | Chinese

Shanghai Ganglian E-Commerce Co., Ltd.
Business Address: 68 Yuan Feng Road, Bao Shan District, Shanghai, 200444, P.R. China

沪ICP备11008952号
  沪公网备 310113100004537

沪公网安备 31011302002269号