CAREC Institute Chief Economist Had Productive Meetings in Beijing

Dr. Hans Holzhacker, Chief Economist at the CAREC Institute, and Mr. Josh Hu, Head of Human Resources and Finance Division of the CAREC Institute, participated in stimulating discussions with esteemed Chinese institutions in Beijing during 12-17 June. The institutions included the Chinese Academy of Fiscal Sciences, Department of Policy Research of the Ministry of Finance, Academy of Macroeconomic Research, People’s Bank of China Research Institute, International Monetary Institute of the Renmin University, AIIB Economics unit, Global Sustainable Transport Innovation and Knowledge Center, International Institute of Green Finance, and Greenovation Hub. These meetings aimed to facilitate the exchange of ideas and address key questions related to China’s high-quality economic development, focusing on core sectors and related policies.

During these meetings, Dr. Hans Holzhacker also delved into discussions regarding recent adjustments in sectors like the property market and their implications for China’s long-term economic progress. Additionally, topics such as strategies to rebalance the economy towards consumption-driven growth, tax and expenditure responsibilities, risk-sharing mechanisms between central and local governments, as well as China’s proposed issuance of ultra-long-term government bonds and their potential impact on the economy were thoroughly explored.

In the meeting with the Department of International Economic and Financial Cooperation of the Ministry of Finance of the PRC, Dr. Hans Holzhacker deliberated on institute’s new strategic priorities, including macroeconomy, climate change, digitalization, and connectivity with a particular emphasis on corridor connectivity. Additionally, they explored the concept of flagship products like an annual report highlighting a specific theme each year and an annual flagship event in Urumqi with significant participation from high-level officials.