Cao Yuanzheng: Raising Income for Low- and Middle-Level Residents Is Critical for China’s Economy to Be Sustainable

Original Title: Cao Yuanzheng: Increasing Income of Low- and Middle-Level Residents Is Critical for China’s Economy to Be Sustainable

December 9SinaFinance 2020 Annual Conference and the 13th.Golden unicornThe forum was held in Beijing. The theme of this forum is: Focusing on the “Fourteenth Five-Year Plan” -Building a new pattern and reshaping new advantages Bank of China International Research Co., Ltd.the companydirectorlong,Bank of ChinaEx bosseconomistCao Yuanzheng attended andSpeaks。

Cao Yuanzheng said in his speech that China’s reform and opening-up processresidence incomeContinuous improvement process.This year we finally achieved a full lift off from povertyAbsolute povertyBased on the current price of absolute poverty, it is about 3,000RMBIf you deleteinflationIf we use this absolute amount, we can see that 98% of the population in China cannot reach this income in more than 40 years. Now all residents of China have achieved this income. This is the process of increasing income.In fact, in the middle of this process of increasing income is the reform and opening of the Chinese economy,industrySpeeding up, making ChinaUrbanizationspeed up.

In the past 40 years, ChinaindustrializationIt is continually accelerating, although in the early days of the founding of the People’s Republic of China, we regarded industrialization as theobjectives, It is industry oriented and based on agriculture. But the industrialization at that time was the industrialization of the country led by the plan.

“In this sense, we have seen China become the only country in the world, with all industrial sectors, and allproduct. China can be said to have everything from simple manual manufacturing to more complex high-tech manufacturing. “He said.

From this experience, as long as it is to increase the income of residents, as long as it is beneficial to increase the income especially of middle and low-level residents, it will make China’s economy sustainable, which is also the basic experience of the reform and opening up of China.

Cao Yuanzheng said that in the face of new challenges, the core is how to sustainably increase the income of Chinese residents, especially the income of the middle and lower classes. The income of this middle and lower class will continue to rise, and the income of Chinese residents will continue to increase, which means that ChinamarketContinue to expand, the Chinese market continues to expand. If it is shared by the whole world through institutional openings as rules, China will embrace globalization and even lead it.

In this regard, the continuous increase in income of Chinese residents has become a global problem. It is not only a question of keeping the world economy growing, but also of whether the globalization process can be sustained. It is of great significance. We said that in the last 40 years, we have had that experience. And in the last 10 years, we have that base. If we continue to follow this path in the future, we will have a bright future. “He said.

(Source: China Securities Network)

(Editor in charge: DF537)