Lin Yifu: Under the great changes that have not occurred in a hundred years, enterprises need to grasp the advantages of latecomers and lane changing overtaking

"The rapid development of China's reform and opening up has changed the map of the world economy, and the great changes in the world that have not occurred in a hundred years depend on China's continued development to be able to enter a new, peaceful and stable pattern." On the morning of October 18, at the 2021 Global Intelligent Logistics Summit hosted by JD Logistics, Lin Yifu, an economist and honorary dean of the National Development Research Institute of Peking University, was invited to attend and deliver a keynote speech on "The Future Development of China's Economy under the Unprecedented Changes in a Century".

Lin Yifu said that this year is the beginning of China's "14th Five-Year Plan" and the beginning of a new journey towards the construction of a socialist power. In the face of the world's unprecedented changes in a century, we have the most complete real economy in the world's supply chain, have the advantage of being a latecomer in traditional industries, and can also use the introduction of digestion and absorption as a source of re-innovation. He also pointed out that in the context of the fourth industrial revolution and the new economy characterized by artificial intelligence, big data and the Internet, the product technology research and development cycle is shortened, and the investment is mainly human capital, while China has the richest human capital in the world, and also has the world's largest single market, so it has the advantage of changing lanes and overtaking in the new economy.

"From 2036 to 2050, China should still have the potential to grow by 6 percent a year, and it can achieve about 4 percent growth." He believes that if China becomes a high-income country, the world's population living in high-income countries will more than double, because China's population accounts for a little more than 18% of the world's population. By 2030, China's economy will surpass that of the United States to become the world's largest economy, even at market exchange rates. By 2035, the general secretary's goal of doubling GDP on the basis of 2020 has been achieved, and by that time our per capita GDP should reach between $22,000 and $23,000 in 2020.

Lin Yifu said that under the new development pattern, entrepreneurs need to seize the advantages of China's latecomers and the advantages of changing lanes and overtaking, and turn this advantage into reality, which can not only contribute to the great rejuvenation of the Chinese nation and the reconstruction of the world peace pattern, but also bring huge development opportunities to enterprises.

Text/Beijing Youth Daily reporter Wen Jing

Editor/Fan Hongwei