Video: 20 Countries’ Ambassadors & Diplomats Joined CCG Luncheon

The Center for China and Globalization (CCG) held another CCG VIP Luncheon on September 18, 2024. The luncheon was held in the historic Xianhe Hall of the club and featured Mr. Guangyao ZHU, Former Deputy Minister of Finance, and Mr. Gao XU, Chief Economist of Bank of China International (China) Co., Ltd. The event was moderated by Dr. Henry Huiyao WANG, Founder and President of CCG and Former Counselor to the State Council of China, focusing on China’s future economic development policies.

Nearly 40 distinguished guests from China and abroad participated in the event, including ambassadors from 14 countries—Brazil, New Zealand, Switzerland, Israel, Cyprus, India, Indonesia, Luxembourg, Estonia, Pakistan, Jordan, Grenada, Norway, and Spain—ministers and senior diplomats from the embassies of six countries — the United Kingdom, Japan, Denmark, Canada, Croatia, and Turkey—and several heads from the United Nations and other international organizations, as well as notable figures from international media.

Dr. Mabel Lu MIAO, Secretary General of CCG, began by briefly introducing all the distinguished guests and extending a warm welcome and sincere thanks for their presence. She noted that the CCG VIP Luncheon aims to present China’s latest economic policies and offer a perspective on its future development prospects. The event has been held multiple times in the past, receiving positive feedback from the international community. She emphasized that this luncheon focuses on the significant outcomes of the Third Plenary Session of the 20th Central Committee of the Communist Party of China. Additionally, she expressed her honor in having two distinguished speakers share their unique insights and looked forward to engaging discussions among the attendees, delving into future development directions.

In his address, Dr. Henry Huiyao WANG, Founder and President of CCG and Former Counselor to the State Council of China, warmly welcomed the guests and extended his Mid-Autumn Festival greetings. He remarked that the CCG VIP Luncheon brings together guests from Chinese government departments, foreign diplomatic missions, business associations, and international media, serving as an important platform for exchanging views and understanding China’s latest development trends and economic outlook. He emphasized that this luncheon looks to the future, reflecting on the changes China will face, and embracing both opportunities and challenges. He pointed out that the event features two distinguished speakers with profound expertise in fields such as finance, international financial cooperation, and the U.S.-China Strategic and Economic Dialogue. He expressed his enthusiasm in hosting this dynamic exchange and encouraged participants to actively ask questions to foster richer discussions and outcomes.

During the speakers’ presentation, Mr. Guangyao ZHU, Former Deputy Minister of Finance, used detailed data and case studies to explain the significance of the Third Plenary Session of the 20th Central Committee of the Communist Party of China and its outcome documents for both China and the world. He pointed out that the meeting reaffirmed China’s adherence to the basic state policy of opening up to the outside world, which is not only crucial for China but also has far-reaching global implications. At present, countries are facing numerous challenges, including protectionism, and must work together to address them. If global production and supply chains are fragmented, it would result in enormous losses for the global economy. He stressed the indispensable role and importance of both China and the United States in the global economy. Particularly in the era of the digital economy, as countries undergo profound development transformations, the relationships among major economies must return to the right track, fostering mutual understanding through effective communication and negotiations.

Mr. Gao XU, Chief Economist of Bank of China International (China) Co., Ltd., shared insights on the current state of China’s economy, its debt situation, and China-U.S. relations from a market perspective. He suggested that in response to the credit tightening in the real estate sector, some stimulus measures, particularly fiscal stimulus, are needed to restore confidence in the real estate market and the broader economy. Although China’s debt-to-GDP ratio is higher than the average for developing countries, the level of debt remains reasonable given that China is expected to maintain a high savings rate in the foreseeable future. Regarding China-U.S. relations, he noted that China has made significant efforts to shift towards a consumption-driven economy, but this process will take time. At the same time, the U.S. must recognize its own economic issues and take measures, particularly in the area of income distribution. If both countries can effectively address these challenges, the future of China-U.S. relations will be more balanced and sustainable.

The insightful speeches by the two guest speakers, along with the commentary from CCG President, provided valuable perspectives and stimulated lively discussions among the participants. During the Q&A session, Israeli Ambassador to China H.E. Irit Ben Abba, Luxembourg Ambassador to China H.E. Roland Reiland, Swiss Ambassador to China H.E. Jürg Burri, Brazilian Ambassador to China H.E. Marcos Galvão, New Zealand Ambassador to China H.E. Grahame Morton, Indonesian Ambassador to China H.E. Djauhari Oratmangun, WHO Representative to China Martin Taylor, Senior Correspondent from CNBC Evelyn Grace Cheng, and Senior Reporter from Bloomberg News James Mayger posed questions on key issues such as China’s industrial policy, income structure, and fiscal and tax reforms. Through in-depth discussions and exchanges, participants gained a more comprehensive, deep, and objective understanding of China’s current economic situation and future trends. The exchange of views not only broadened perspectives but also sparked new insights. In this positive and interactive atmosphere, the luncheon concluded successfully.

Guests from the embassies attending the event include
 (alphabetic order):

H.E. Irit Ben Abba, Ambassador of Israel

Andreas Brandgaard, First Secretary, Economic Affairs, Embassy of Denmark

Jean-Christian Brillant, Minister (Commercial) of Embassy of Canada to China

H.E. Jürg Burri, Ambassador of Switzerland to China

H.E. Vebjørn Dysvik, Ambassador of Norway to China

Arna Ferreira, Deputy Head of the Mission, Embassy of Croatia

H.E. Marcos Galvão, Ambassador of Brazil

H.E. Hannes Hanso, Ambassador of Estonia to China

H.E. Khalil ur Rahman Hashmi, Ambassador of Pakistan to China

H.E. Hussam AI Husseini, Ambassador of Jordan to China

Haruna Ishida, Economic Counselor, Embassy of Japan

H.E. Pradeep Kumar Rawat, Ambassador of India to China

H.E. Marta Betanzos Roig, Ambassador of Spain to China

H.E. Frances Galatia Lanitou Williams, Ambassador of Cyprus to China

H.E. Ian J. Marshall, Ambassador of Grenada to China

H.E. Grahame Morton, Ambassador of New Zealand

H.E. Djauhari Oratmangun, Ambassador of Indonesia to China

Atakan Ozdemir, Chief Commercial Counsellor of Embassy of the Republic of Türkiye

Adam Pickford, Counsellor on Economics & Trade Policy, British Embassy in Beijing

H.E. Roland Reiland, Ambassador of Luxemburg to China

Guests from international organizations and associations include 
(alphabetic order):

Tamas Hajba, Senior Advisor for China, Head of the OECD Beijing Office

Stephen Kargbo, China Representative of United Nations Industrial Development Organization (UNIDO) Field Office

LI Yi, Deputy Secretary-General, China Light Industry Enterprises Investment And Development Association

Martin Taylor, WHO Representative to China

Guests from the international media include 
(alphabetic order):

Evelyn Grace Cheng, Senior Correspondent, CNBC

Sabine Gusbeth, China Correspondent, Handelsblatt

Dake Kang, China Correspondent, Associated Press

Beulchan Lee, Beijing Bureau Chief, Chosun Ilbo

James Mayger, Senior Reporter, Bloomberg News

KJM Varma, China Correspondent, Press Trust of India

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.