Programme

THE TRANSFORMATION OF THE CHINESE ECONOMIC MODEL

Sustaining Economic Expansion
Panel Session

Moderator:
Xu Sitao , Chief Economist, Partner, Deloitte, China

Panellists
Xiang Bing , Founding Dean and Professor of China Business and Globalization, Cheung Kong Graduate School of Business (CKGSB)
Ivan Glasenberg , Chief Executive Officer, Glencore
Andrei Klepach , Deputy Chairman (Chief Economist), Member of the Board, Bank for Development and Foreign Economic Affairs (Vnesheconombank)
Vladimir Mau , Rector, Russian Presidential Academy of National Economy and Public Administration (RANEPA)
Alexander Machkevitch , Chairman of the Board of Directors, Eurasian Resources Group S.a.r.l. (ERG)
Maxim Oreshkin , Minister of Economic Development of the Russian Federation
Andy Xie , Independent Economist

Broadcast

Key moments

China can grow as an economy by de-regulation – we have a long way to go
Xiang Bing
There are two main questions regarding China – what will be the prospect of welfare state and whether China will find something in the middle-income trap. These two questions will explain the development of China for the nearest future
Vladimir Mau
All we need to do is to transfer money to the household sector and to shrink the state sector. That is the transformation.
Andy Xie
The central Chinese government owns a big part of the economy. If they need additional cash for the economy, they will transfer the personal savings into the hands of the government. So China has a lot of tools in the box.
Ivan Glasenberg
Today, China’s reserves are huge: liberalization, openness, deregulation, privatization.
Alexander Machkevitch
China economy needs very flexible balance between pure market deregulation – liberal mechanism – and some support from more federal and maybe less regional level.
Andrei Klepach
The key driver of the force is not restructuring or adjustment but the dominating role of private sector.
Xiang Bing