Wu Jinglian believes that the economic operation has appeared in a "seesaw" state, and the decisive solution factor lies in reform.
Comprehensive editing | "China Entrepreneur" reporter Wang Leisheng
Image credit | Attempt library
When Wu Jinglian slowly walked onto the stage, the audience erupted into applause. The economist, who has accompanied China's economic development and reform and opening up all his life, once again talked about reform in a low and firm tone.
On December 2, Wu Jinglian, a well-known economist and researcher at the "Tribute to 40 Years of Our Struggle - Tribute to the Business Leaders Influencing the Process of Reform and Opening Up" organized by China Entrepreneur Magazine, was selected as a "Special Tribute figure for the 40th Anniversary of Reform and Opening Up".
In her speech, Wu Jinglian concluded that the most successful place in the 40th anniversary of reform and opening up is that "our reform has given birth to a preliminary framework for a market economy." Under the guidance of this framework and the impetus of many forces, the giant wheel of China's economy has ridden the wind and waves.
To solve the current state of economic operation in which the balance between economic growth and leverage is difficult to control, the fundamental solution is to improve the efficiency of economic growth, establish an environment that can stimulate innovation and entrepreneurship, and "continue to firmly promote our market-oriented and rule-of-law reforms."
Wu Jinglian is considered to be the conscience of China's economics giants and economists. Throughout his life, he has promoted marketization and legal reforms. He was involved in promoting the definition of the terms "planned commodity economy" and "socialist market economy". After entering the 21st century, we have continuously called for accelerating the construction of socialist rule of law. He has also made suggestions and suggestions for promoting the transformation of the economic growth model, reforming industrial policies, and building a standardized and orderly securities investment market.
As the guest of honor, Xu Shanda, former deputy director of the State Administration of Taxation, read out a tribute speech ——
He is known as the "conscience of economists", "Wu market", "Wu rule of law" titles represent his irreplaceable contribution and status in the construction of the market economic system in the past 40 years. He spoke out for the country, dared to speak for the people, and often spoke for the truth. At the age of 88, he is still struggling to promote reform and opening up.
Xu Shanda also asked Wu Jinglian, "How can our country's science and technology accelerate the speed of development and catch up with the world's high level of science and technology?" ”
"The most important two are reforms to create an environment that stimulates innovation and entrepreneurship. China has more than a billion people, talents are there. It is not that talents are rare, but the role that talents can play, and the construction of its environment is quite difficult. The second is to be open, to work with people from all walks of life in the industry, to cooperate in the competition, and to push forward the revolution in science and technology. Wu Jinglian replied.
An impressive detail is that Mrs. Zhou Nan has been with Wu Jinglian throughout the event. The two met in 1951, married in 1956 and have been together for more than 60 years.
In the eyes of his wife, entrepreneurs and the audience, Wu Jinglian once again cried out for reform: "There is still no end to reform, let us work together." ”
The following is a compilation of Wu Jinglian's speeches at the 2018 (17th) China Business Leaders Annual Conference:
In my opinion, the most successful part of our 40 years of reform is that our reforms have spawned the initial framework of a market economy. Such a preliminary framework of a market economy, together with the entrepreneurs we are here today, with our hundreds of millions of migrant workers, and with many of our cadres and officials who have the will to reform, has pushed the huge ship of China's economy to ride the wind and waves.
The problem we are facing today is also how to continue the cause of reform and opening up.
All of us entrepreneurs here know that there are many difficulties in front of us now, and entrepreneurs, like the general public, have a lot of confusion and entanglement.
In the middle of our economic operation, there is a difficult state of operation, that is to say, on the one hand, the economic growth rate is declining, on the other hand, the debt is high, the leverage ratio remains high, and there is also the possibility of a systemic crisis.
So, when you want to stabilize the growth rate of this economic growth, the only way is to issue multiple currencies and increase demand. However, in this way, the other side of this leverage is cocked, that is, the leverage ratio continues to rise, and the possibility of systemic risk is increasing.
When you want to leverage, the growth rate of this economic growth will come down, the demand will decrease, so there is this state of operation called "rocker".
How can such a dilemma be solved? Is there a way out? From 40 years of experience, we can clearly see that there is a way out. The way out is to increase the efficiency of the economy, and if the efficiency is improved, higher growth can be achieved with less investment. In this way, we can get out of the dilemma.
However, the decisive factor in determining the efficiency of an economy is whether there is an environment that can stimulate innovation and entrepreneurship. In other words, whether we can create such an environment through market-oriented and rule-of-law reforms is the key to the problem.
Therefore, we must work together to promote efficiency, of course, to study the problems we face, we theoretical workers have an unshirkable responsibility, but without your participation, it is difficult to find the fundamental way to solve the problem.
In short, I would like to say that there is no end to reform, let us work together.
Source: Chinese entrepreneur