On March 18, the "BBS 2017 annual conference of China's top development officials" was held in Beijing. The theme of BBS this year is "China and the world: economic transformation and structural reform". Li daokui, a professor at the school of economics and management, tsinghua university, and su bide, President of Yale university, right, exchange views at BBS.

The three-day BBS 2017 annual conference on China's development was held in Beijing on March 18. On this year's BBS, journalists found that guests from home and abroad paid special attention to the impact of China's economic transformation on the world. It is believed that improving the quality and efficiency of economic growth will become the main theme of China's economic development. At the same time, China's determination to open up to the outside world and its attitude of pursuing mutual benefit and win-win progress mean that China will inject strong confidence and impetus into the world economy while further integrating itself into the world economy.

Seek improvement in stability is trending up

China, the world's second largest economy, has undoubtedly added confidence to the world economy by sticking to the general tone of the seek improvement in stability work and maintaining medium-to-high growth.

In 2016, the Chinese economy has contributed more than 30% of global economic growth and new jobs in cities and towns throughout the year 13.14 million, the added value of service industry proportion of GDP rose to 51.6, the annual new registration enterprise increases by 24.5%, the energy consumption per unit GDP by 5%... Behind this series of important indicators is the steady and positive development trend of China's economy.

Wang yiming, deputy director of the department under the state council development research center said that since the second half of 2016, China's industrial production price from negative to positive, corporate profits from fall to rise, manufacturing investment, there is an obvious signs of recovery in private investment, all of these show that China's economy stabilizing factor is accumulating. "What we call 'l-shaped' is moving into the next half, and improving the quality and efficiency of economic growth will be the main theme of future economic growth." Wang yiming's judgment.

"Emerging markets remain an important engine supporting world economic growth, contributing more than 70 per cent of the world economy. In particular, Asian countries such as China and India will continue to lead the global economy forward steadily." International monetary fund (IMF) vice President zhang tao said. The United States, a professor at New York university, a Nobel prize-winning economist Michael spence, said in the past, there are some countries such as China's achievements, but the size of its economy is much less than China, so China's record is fantastic.

We strengthened the momentum for reform

From reducing corporate tax burden by more than 570 billion yuan, to withdrawing more than 65 million tons of steel production capacity, to further cleaning up and standardizing administrative approval Over the past year, China in promoting the supply side of the positive progress in the structural reform, making the Chinese economy toward a more advanced form, division of labor is more optimization, structure more reasonable direction to move forward.

Yang weimin, deputy director of the office of the communist party of China central leading group on finance, pointed out that when China's economy was growing rapidly, the demand structure was mainly for low-end consumption, export demand and investment demand. Real economic structural imbalances traced back is the socialist market economy system is not perfect, the government too much influence in the resources, the market has not play a decisive role in configuration of resources. Therefore, China's supply-side structural reform is to solve these structural imbalances through institutional reform.

Hillhouse capital group founder and chief executive zhang thinks, conversion of kinetic energy, the transformation way, adjust the structure, in the final analysis depends on enliven the innovation of the enterprise, cultivate the ability to adapt.

In Michael spencer's view, supply-side reform means that Chinese companies must change their business models to avoid being replaced by others. In the future, human capital will become more and more important in the economy, so the quality of human capital should be improved through education, he said.

Key role of globalization

A single flower does not make a spring. While China is doing a good job in its own development, every move in globalization also affects the nerves of the whole world. Wang shouwen, vice minister of commerce, said that China has always been an important force in globalization. No matter how globalization is reversed, the door of China's reform and opening up is always open.

Jin qi, chairman of the silk road fund, said that economic globalization complies with the requirements of The Times and is irreversible. In the process of promoting globalization, China, a former participant, now plays the role of a promoter and an advocate, and "One Belt And One Road" is actually the Chinese version of the globalization initiative.

British linklaters, managing partner of law firm China party alive an interview with our reporter pointed out that with the increasing of China's integration into the world economy, Chinese enterprises overseas mergers and acquisitions investment of the construction of the "area" will become the important form, this will also be related to national economic development and even the world economic recovery into the deep motivation and confidence.

Fang Jian said, "on the one hand, Chinese enterprises overseas mergers and acquisitions, investment for local enterprises to capital, technology, marketing and management experience, solve the takeover enterprise financial difficulties, help difficult being acquired businesses out of the woods, leading to the local tax revenue and employment. On the other hand, many regions along One Belt And One Road are still relatively backward in infrastructure and foreign enterprises are less willing to invest, which will affect local development. Chinese enterprises take the lead in "going global" and participate in relevant construction at this time, which will help consolidate the foundation for long-term development of local economy.