Look! How can a "world exhibition hall" handle the economic situation

On July 18, the first phase of Chint think tank salon was held in the "Chint world" exhibition hall. Dr. Ha Jiming, vice chairman of Goldman Sachs investment management department in China and * investment strategist, was invited to give a keynote speech and discussed the current domestic and foreign economic situation with Nan Cunhui, member of the Standing Committee of the CPPCC National Committee, chairman of Zhejiang Federation of industry and Commerce and chairman of Chint Group, LAN Jianping, President of Zhejiang Institute of industry and information technology, Liu Zhiyi, director of the Research Office of Zhejiang Federation of industry and commerce, and Dr. Huang Wenli, representative of the new generation of entrepreneurs, Explore future investment and development opportunities.

Nan Cunhui said in his speech that the theme of this think tank salon is "China's economy and market outlook". Many people are confused and confused about the current complex economic situation. Brexit has exacerbated the uncertainty of the global economy. Domestically, China's economy is at a critical stage of structural adjustment, transformation and upgrading, and the "pain" of adjustment continues. However, despite the great pressure of the economic situation at home and abroad, there is still much room and hope for China's economic development. The huge consumer market with a population of more than 1 billion, urban infrastructure investment and rural development all contain huge development space. Nan Cunhui believes that through Dr. Ha Jiming's wonderful speech and the collision of guests' views, it will bring a feast of thought to Chint employees.

Subsequently, Dr. Ha Jiming gave a speech from five dimensions: global economic and investment outlook, China's economic growth rate and its impact on other economies, China's rebalancing, reform plan, structural faults, China's recent economic situation, China's outlook and investment impact. Dr. Ha Jiming believes that China's economy is facing great challenges. On the one hand, we should achieve economic rebalancing, on the other hand, we should avoid disorderly and destructive adjustment. However, he is still full of confidence in the future development trend of China's economy. At the same time, Dr. Ha Jiming believes that the transformation from "made in China" to "made for China" will provide huge development potential for industries such as health and education, elderly health care, financial management, tourism, Internet, entertainment and sports.

"Under the new economic tide, Chint should strive to be a 'Pathfinder' and form its own ideas and action path."

——Nan Cunhui, member of the Standing Committee of the CPPCC National Committee, chairman of Zhejiang Federation of industry and Commerce and chairman of Chint Group

Nan Cunhui believes that to be confident in China's economy, there are indeed many crises and challenges in some domestic fields, but the crisis is organic. Each crisis must have opportunities for investment, supporting, restructuring, innovation and development, especially the driving development of new technologies and new industries, so as to promote the social economy.

Now that the Internet era has arrived, the first thing enterprises should do is to innovate and not stick to the rules. For Chint, the continuous innovation and development of new energy around electric power is what it has been trying to do in recent years. If Chint has been focusing on old products, old technologies, old methods and old markets, does not keep up with the national pace, does not keep up with the world development trend, and does not continuously explore innovation in new industries related to the main industry, we can not develop our assets to more than 40 billion. Nan Cunhui further mentioned the residential rental roof distributed photovoltaic power station being built by Chint. This investment model with stable income has been more and more welcomed by ordinary residents. Second, we should make full efforts in energy efficiency management, adhere to the green development of enterprises, and then extend to smart cities, intelligent transportation and smart finance when enterprises need to cross borders in the future. New industries should be cultivated, the pace should be stable, and there should be no panic. There is no need to mess up.

In the new economic wave, for private enterprises in Zhejiang, Nan Cunhui believes that Chint should strive to be a "Pathfinder" and form its own ideas and action path in the exploration.

"Goldman Sachs has always been full of confidence in China's economy!"

——Dr. Ha Jiming, vice chairman of Goldman Sachs investment management department in China and * investment strategist

Today's input, tomorrow's output, and today's investment structure is tomorrow's industrial structure. Ha Jiming said that Goldman Sachs has always been full of confidence in China's economy. Long ago, when China's economic bad debts were very high, it still chose to invest heavily. Afterwards, it proved that this decision was very correct. In the financial field, Goldman Sachs took the lead in obtaining China's financial service license among foreign-funded enterprises, set up service points in Shanghai, Beijing and Shenzhen, and fully opened the headquarters in Hong Kong and New York to realize the global integration of operation. Ha Jiming believes that compared with the 1990s, China's economy is no longer an order of magnitude. Now, whether it is the financial industry, manufacturing industry or other industries have been greatly upgraded. Therefore, Goldman Sachs's cooperative development model in China should be said to be * and keep pace with the times.

"In the future, the nine major industrial sectors of China's economy will show a vigorous development trend."

——Liu Zhiyi, director of the Research Office of Zhejiang Federation of industry and Commerce

Liu Zhiyi said that in the future, nine major industrial sectors in China's economic field deserve attention* It is an emerging economy. At present, Hangzhou's successful transformation is due to the fact that the emerging economy has accounted for more than 50% of its GDP. Therefore, although there has been a phased decline in private investment, the profit of its industrial output value is increasing. The second is the new energy sector. At present, photovoltaic has become the leader of this industry, and there is a lot of room for development in the future. The third is the health sector. At present, the government expenditure in this sector accounts for about 5% of GDP, which is far from 13% to 15% in developed countries. Therefore, it means that there is a huge space of nearly 5 trillion to 6 trillion. The fourth is the pension sector, which currently has a volume of about 4 trillion. According to the national requirements, it will reach 13 trillion by 2020, of which there is nearly 9 trillion space. The fifth is the telecom mobile phone sector. At present, the volume of domestic smart phones is about 2.1 trillion and will reach nearly 6.4 trillion by 2020. Therefore, there is a huge space for the development of smart phones. The sixth is the financial services sector, with about 10 trillion to 15 trillion development space by 2020. The seventh is the tourism and leisure sector. According to the national plan, tourism will account for 5% of GDP in 2020, that is, there will be about 5.5 trillion development space in the future. The eighth is the film entertainment sector. At present, Zhejiang's film and television culture industry has great development potential. The ninth is the manufacturing sector. High end manufacturing industries such as Chint will be the key to the development of the real economy in the future.

"Invest more capital into the blade and into the real economy."

——Dr. Huang Wenli, doctor of mathematics of Zhejiang University and representative of the new generation of entrepreneurs

We have observed that China's overall debt ratio is quite high. In terms of strategy, we are also talking about deleveraging and debt reduction, but if we put aside the structural problem and simply say that it needs deleveraging, we think it may not be appropriate. China's debt problem may still be a structural problem. The key is that most of the debt comes from the non-financial enterprise sector, and there is a structural differentiation in the non-financial enterprise sector, including state-owned enterprises and private enterprises, of which state-owned enterprises account for a large proportion.

Therefore, from this perspective, Dr. Huang Wenli believes that the key to reducing leverage is to reduce the leverage of state-owned enterprises. At the same time, he suggests that funds should be appropriately allocated to private enterprises that urgently need money and are more mature in the market. Invest every new capital into the blade and really invest it into the real economy.

"Transformation and upgrading is not what you want or want, but what you have to do."

——LAN Jianping, President of Zhejiang Institute of industry and information technology

LAN Jianping expounded his views from three aspects: yesterday, today and tomorrow in Zhejiang. He believes that Zhejiang's yesterday was a pilot development in the planned economy and market economy, closed economy and open economy, rapid economy and industrial cluster transformation and upgrading. These three economic reforms are very clear. In the early stage of reform and opening up, Zhejiang ranked about 18th to 20th in the economic ranking of China's provinces. However, during the Eleventh Five Year Plan period, Zhejiang has entered the square of China's economy, keeping pace with Guangdong, Shandong and Jiangsu. The reason why such achievements can be achieved is inseparable from the government's repeated emphasis on the issue of marketization, and from Zhejiang scholars and entrepreneurs adhering to marketization. They have come all the way to today and achieved a leap from a small resource province to a large economic province.