CCG VIP Luncheon Focuses on the Third Plenum and Future Reforms
July 24 , 2024
The Center for China and Globalization (CCG) held a third CCG VIP Luncheon on July 24. The luncheon was held in the historic Xianhe Hall of the club and featured Huang Yiping, Boya Distinguished Professor, Dean of the National School of Development, and Director of the Institute of Digital Finance (IDF) at Peking University, and Tu Xinquan, Professor and Dean of the China Institute for WTO Studies at the University of International Business and Economics.
The 20th Central Committee of the Communist Party of China convened its third plenary session in Beijing from July 15 to 18, 2024. The meeting laid out strategic plans for further deepening reforms and advancing Chinese modernization. On the 21st, the full text of the Resolution of the Central Committee of the Communist Party of China on Further Deepening Reform Comprehensively to Advance Chinese Modernization was made public, proposing over 300 significant reform measures across for China’s future reform and opening up.
The CCG VIP Luncheon, moderated by CCG’s Vice President Victor Gao, brought together over 40 distinguished guests from both China and abroad, including foreign ambassadors to China, commercial counselors, heads of international organizations, senior executives from Chinese and international companies, and renowned international media representatives. They engaged in in-depth discussions on topics such as China’s economic development policies and the new wave of reforms following the Third Plenum, China’s interactions with other countries, and China’s role in the multilateral trade system under the World Trade Organization framework.
Victor Gao, CCG Vice President
At the luncheon, CCG Vice President Victor Gao, on behalf of CCG President Wang Huiyao and Secretary-General Miao Lu, who are currently visiting the United States, extended a warm welcome to all the guests. He encouraged active participation from the attendees in discussing China’s economic initiatives and its role in international affairs.
Huang Yiping, Boya Distinguished Professor, Dean of the National School of Development, and Director of the Institute of Digital Finance (IDF) at Peking University
During the subsequent keynote speech session, Professor Huang Yiping emphasized that the pragmatic reform approach proposed at the Third Plenary Session of the 20th Central Committee aligns with China’s social, economic, and political realities. He argued that given the current geopolitical tensions and potential financial risks, steady reforms are essential. For the Chinese economy, maintaining economic growth and addressing insufficient consumption are the two primary challenges at present. Huang highlighted that income distribution disparity and an inadequate social security system are the main reasons for weak consumption, necessitating a series of policy measures to address these issues.
Tu Xinquan, Professor and Dean of the China Institute for WTO Studies at the University of International Business and Economics
Professor Tu Xinquan noted that the resolution indicates China’s steadfast commitment to reform and opening up. Additionally, the resolution clearly announces the regulation of local government investment incentives, aiming to curb unfair and excessive domestic and international competition. It repeatedly emphasizes the importance of economic “vitality,” demonstrating China’s firm determination to promote market liberalization. Tu believes that China has shown a strong willingness to find more common ground with other market economies. While China retains its unique characteristics, seeking more commonalities in the economic system can further facilitate mutual exchanges. Overall, he is optimistic about the resolution and the future of China’s economic reforms but also stresses the need to closely monitor the specific measures for achieving these goals.
H.E. Scott Dewar, Ambassador of Australia to China
H.E. Bruno Angelet, Ambassador of Belgium to China
H.E. Thorir Ibsen, Ambassador of Iceland to China
H.E. Hannes Hanso, Ambassador of Estonia to China
H.E. James Kimonyo, Ambassador of Rwanda to China
Amit Sevak, CEO, ETS
Qi Zhang, Senior Director, Nike
Usha Mishra, Chief of Social Policy and Reform for China Section, UNICEF China
Sabine Gusbeth, China Correspondent, Handelsblatt
John Liu, Executive Editor for the Greater China Region, Bloomberg News
Guests from the embassies and international organizations attending the event include (sorted alphabetically by their surnames):
●Bruno Angelet, Ambassador of Belgium to China
●Virgilio Bisio, Charge d’Affaires ad interim and Commercial Counsellor, U.S. Embassy in China
●John Busuttil, Ambassador of Malta to China
●Bilal Mahmood Chaudhary, Deputy Head of Mission, Embassy of Pakistan in China
●Scott Dewar, Ambassador of Australia to China
●Maja Frankovic, Counsellor, Embassy of Croatia in China
●Sabino Fornies Martinez, Counsellor, EU Delegation to China
●Ole Grogro, Deputy Head of the Economic Section, Embassy of Germany in China
●Colin Guest, Minister Counselor for Economic Affairs, U.S. Embassy in China
●Hannes Hanso, Ambassador of Estonia to China
●İsmail Hakkı Musa, Ambassador of Türkiye to China
●Hallam Henry, Ambassador of Barbados to China
●Thorir Ibsen, Ambassador of Iceland to China
●James Kimonyo, Ambassador of Rwanda to China
●Derek Lambe, Economic Counsellor, Embassy of Ireland in China
●Wen Li, Representative of the International Organization for Migration in China
●Ian Marshall, Ambassador of Grenada to China
●Dario Mihelin, Ambassador, Embassy of Croatia in China
●Usha Mishra, Chief of Social Policy and Reform for China Section, UNICEF China
●Yannick Mondy, Economic Counsellor, Embassy of Canada in China
●Devi Nandana, Second Secretary, Embassy of India in China
●Aramiro Tai Rākena, Trade and Economic Counsellor (Acting Deputy Head of Mission), Embassy of New Zealand in China
●Parulian George Andreas Silalahi, Deputy Chief of Mission, Embassy of Indonesia in China
●Marcelo Suárez Salvia, Ambassador of Argentina to China
●Paul Stempel, Acting Director of Economic Affairs, U.S. Embassy in China
●Estelle Vuichard, Deputy Head of the Economic, Finance and Trade Section, Embassy of Switzerland in China
●Chu Q. Wang, Diplomat & Partnership Specialist, UN Women
Guests from the international media include:
●Sabine Gusbeth, China Correspondent, Handelsblatt
●Joseph Leahy, Beijing Bureau Chief, Financial Times
●John Liu, Executive Editor for the Greater China Region, Bloomberg News.
The event was also attended by senior executives of multinational corporations including:
●Haixia Cui, Vice President of Government Affairs, IBM Greater China
●Anna E, Director of Public Affairs, Mars China
●Wenjie Gu, China Chief Representative, Zoom
●Bo Huang, Managing Director, China International Capital Corporation
●Zhen Liu, Vice President of Kuaishou Technology
●Amit Sevak, CEO, ETS
●Junbao Shan, Chairman, China International Capital Corporation
●Rong Shang, Vice President of Communications and Corporate Affairs, Microsoft Asia-Pacific R&D Group
●Anthony Wang, Founding Partner, Serafund
●Mengyan Wang, Managing Director, ETS China
●Xiaoming Wang, Vice President of Public Policy, Mastercard
●Xu Wang, Executive Director of Sales, S&P Global
●Qi Zhang, Senior Director, Nike
●Qi Zhang, Director of Group Public and Regulatory Affairs, Standard Chartered Bank.
The “CCG VIP Luncheon” series, initiated and hosted by the Center for China and Globalization (CCG), aims to establish a premier platform for international exchange in Beijing in the post-pandemic era. This event series is designed to introduce China’s latest development prospects and policies to embassies, international organizations, multinational companies, chambers of commerce, and academic experts in China. It also seeks to provide forward-looking predictions on China’s development prospects and explore cooperation between China and the rest of the world on globally significant issues.
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Transcript of May 14 CCG VIP Luncheon on China’s economy
CCG VIP Luncheon Focuses on the Third Plenum and Future Reforms
