China’s top economists call for more action to fend off growing risks including trade war
- Stabilisation dominates agenda at meeting of Chinese Economist 50 Forum, but many members believe there is no need for all-out stimulus policy
Top Chinese economists have called for more action to keep the economy, investment and job market steady as the country faces growing risks, including from the trade war with Washington.
The call came from members of the Chinese Economist 50 Forum – which includes government officials and advisers – who gathered in Beijing for their annual meeting on Saturday.
On the agenda was how to stabilise the economy, foreign direct investment, employment and expectations – all issues that have become top priorities for Beijing’s ruling Communist Party this year.
Held a day after the latest round of trade talks with Washington concluded, the forum’s co-founder, Vice-Premier Liu He, did not attend the meeting at the Diaoyutai State Guesthouse.
Liu has been leading China’s trade talks team, and the negotiations are expected to continue in Washington next week as the two sides seek to reach a deal to end the trade war.
In response to market calls for large-scale easing, Wu Jinglian, the “spiritual leader” of China’s pro-market reform camp, said any action would depend on how long-term growth potential stacked up against actual growth.