On China's Economy: Challenges, Confidence and Stamina

Justin Yifu Lin discussed the Chinese economy and elaborated on the key points of the new development pattern of the "14th Five-Year Plan" and the "Dual Cycle". How can the Chinese economy break through bottlenecks and obstacles, overcome bottlenecks, and achieve high-quality development? China has entered its second century. In the face of major changes unseen in a century and a new period of strategic opportunities, in what areas should China make efforts? The author believes that in the next 10 years, China's economy will have an average annual growth potential of 8%. Behind this judgment is the author's understanding of the huge challenges and opportunities that China currently faces, as well as the resilience and confidence of the Chinese economy. How can China maintain its late-mover advantage? How should China participate in and lead the new industrial revolution? How to understand the dual cycle and the new development pattern? How to promote high-quality development in various places during the "14th Five-Year Plan" period through the transformation of economic structure? In the face of new changes in a series of new situations such as increasing uncertainties in the world economy and the outbreak of the epidemic, Professor Yifu Lin analyzed China's development experience and its inspiration to other countries in the world based on the development of China's economy itself. He also gave an in-depth interpretation of China's economic development pattern, how finance promotes growth, the development direction during the 14th Five-Year Plan period, and the prospects for cooperation between China and other countries in the world, so that enterprises, governments, and individuals can see future trends more clearly.