Golden Networking's China Conference October 2013: Whether Chinese Economy Enterying a Crisis Period
Building off of the momentum of past conferences, Golden Networking brings back China Leaders Forum 2013 (http://www.ChinaLeadersForum.com), "Will the Chinese Dream Become Long-term Investors' Dream or Nightmare?", New York, October 1st.
- New York, NY (1888PressRelease) July 23, 2013 - The economy in China showed slow growth in the past a few months, therefor, many experts guess that there will be a hard landing. However, Chinese Minister of Finance, Lou Jiwei, denied that the world's second-largest economy was entering a crisis period, adding that he believed growth could even accelerate, as quoted by the official Xinhua news service in an interview.
The report quoted Lou Jiwei, speaking on the sidelines of the G20conference on Saturday, saying he expected China's economic growth to end the year at 7.5 percent, the official target rate.
"We see domestic power generation and electricity consumption increased by 4 percent, and the service industry's usage of electricity increased 8 percent," Lou said, arguing that the increases showed efforts to shift China's economy towards services from manufacturing were bearing fruit.
"None of my fellow delegates think China is going to have a hard landing."
The interview was published late on Saturday, a day after Beijing announced it would remove the floor under bank lending rates in a move to free up interest rates, which planners hope will put China's economy on a more sustainable growth path.
Lou said China would continue tax reforms to promote growth, in particular by converting sales taxes to value-added taxes (VAT), while cutting down on paperwork and application requirements for Chinese businesses. His views were more mixed on the country's real estate industry, which regulators and economists fear is distorted by speculation and fuels inflation. The industry should play a "normal" role in economic development, he said, adding that its place in China's urbanization project required further study.
Lou said that people talked about rising housing prices, but the industry faced other issues, including surplus housing in some cities and insufficient land supply in others. "Many developers lack confidence and many buyers are holding back," he added. "Therefore the State Council needs to continue to research the long-term mechanism of real estate development," he said in a reference to China's cabinet.
Lou also warned the United States against exiting from its monetary easing program without considering the impact of the move on the economies of other countries.
But most of all, it's in China's very own interest, as it will be discussed at Golden Networking's China Leaders Forum 2013 (http://www.ChinaLeadersForum.com), "Will the Chinese Dream Become Long-term Investors' Dream or Nightmare?", will examine the economic and finance challenges facing China nowadays and the long-term opportunities for global investors that will be created in the world's upcoming largest economy. Recognized experts, regulators, and strategists, will return to China Leaders Forum 2013 in its fifth edition to provide the information practitioners are looking for in an open and unbiased environment, highly conducive to the most efficient and effective networking.
Topics that China Leaders Forum 2013 will discuss include:
• How American Interests Can Catch the Wave of Chinese Overseas Investing?
• Private Equity, Venture Capital and Capital Markets Investing in China
• Alice in Wonderland Scenario for Foreign Hedge Fund Managers?
• Is Chinese Real Estate Headed Towards a Bubble?
• Is U.S. Real Estate Headed Towards a Boom?
• The Rule of Law and its Role in Achieving the Chinese Dream
China Leaders Forum 2013 is produced by Golden Networking (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs and investors. Panelists, speakers and sponsors are invited to contact Golden Networking by sending an email to info ( @ ) goldennetworking dot net.
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