Macroeconomic Forum and Innovation Summit in Sanya, Hainan, China

Sanya, Hainan, China hosted a Macroeconomic Forum and Innovation Summit sponsored by the Economic Observer and Jingguan Media. For leading industry experts, academics and corporate guests, it was an opportunity to discuss a new trend in China's economic development against the backdrop of a redevelopment of the global production chain and an internal “double cycle” in many dimensions.


At the beginning of the forum, Cai Haibao, deputy secretary general of the Sanya Municipal Government, said in his speech that the general plan for the construction of the Hainan Free Trade Port was unveiled on June 1, indicating future work. Sanya will adhere to the implementation of a new development concept, make every effort to create a world-class coastal tourist city and form a modern industrial system that accumulates the free trade port, open attributes and distinctive characteristics of Sanya.


Wen Zhao, executive editor of the Economic Observer News, said that China is about to enter the "14th Five-Year Plan" phase and is moving towards accelerating the construction of a new development model with domestic and international cycles as the main body and mutual promotion of domestic and international cycles. Through this macroeconomic forum and other reports in the future, we hope to present the solid steps of the Hainan Free Trade Port builders and use the lens to capture the moving paths and development moments of the Free Trade Port.


Xu Xiaonian, Lifetime Emeritus Professor at the China-Europe International Business School, interpreted The Nature and Politics of Innovation. Xu Xiaonian noted that around 2008, China ended an era of high economic growth driven by industrialization and investment. At present, China's economic growth cannot depend on increased resource costs, but depends on increased resource efficiency through innovation. Because innovation involves a high degree of uncertainty and high risk, it requires high returns to keep up with it; at the same time, innovation is inseparable from the full use of personal imagination and the free-flowing market. Therefore, in the post-industrial era, to stimulate and encourage innovation, China needs to create an institutional environment that is different from that of the industrial era.


Liu Shanxi, party secretary and dean of the Chinese Academy of Financial Sciences, suggested that "proactive fiscal policy requires new thinking," and pointed out that the bulk of China's modernization drive is shifting from material modernization to system modernization and then to modernization. of people". Focus on the "people" level.


Along with excellent guest speeches, an award ceremony for outstanding financial companies for 2019-2020 was held. Since its inception in 2012, the Excellent Financial Enterprise Ceremony has been successfully held for the ninth year and has grown into a large-scale event of choice among the financial industry in China, bringing together credibility, professionalism, public welfare, innovation and sustainability. After many months of review and research at an excellent financial enterprise gala this year, the financial industry development was chosen in the fields of banking, insurance, funds, trusts, securities, wealth management, futures, third-party financial institutions and financial leasing for 2019-2020 years.


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