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should we rely on stimulating consumption or infrastructure investment? experts discuss the focus of fiscal efforts

2024-09-30

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[on september 28, at the 2024 tsinghua pbc chief economist forum, lin yifu, dean and professor of the institute of new structural economics at peking university, yu yongding, academic member of the chinese academy of social sciences and former director of the institute of world economics and politics, ceibs sheng songcheng, professor of the international business school and former director of the survey and statistics department of the people's bank of china, guan tao, global chief economist of boc international securities, lu ting, chief economist of nomura china, and other experts and scholars in the economic and financial fields focused on the implementation of the current policy package and the follow-up of monetary and fiscal affairs. policy recommendations, as well as economic trends and other market concerns are interpreted. ]

from mid-september when the market was still discussing the possibility of a "lost 30 years" to september 25 when the slogan "all in buy china" was raised, a series of policy combinations had a very obvious driving effect on the market, and the entire market was there was an air of optimism.

wind information data shows that in the past week (september 23 to september 27), the shanghai stock exchange index rose by 12.81%, the largest weekly increase since november 2008; the shenzhen stock exchange component index rose by 17.83%, the highest level since april 1996. the largest weekly increase in history; the chinext index rose 22.71%, the largest weekly increase in history.

the package of policies to boost the economy is "what the people want" and also opens up the market's imagination to subsequent monetary and fiscal policies. at the same time, it is worth looking forward to how macro policies can maintain policy effectiveness, not only to help the economy escape from short-term difficulties, but also to further promote the rapid development of the real economy.

on september 28, at the 2024 tsinghua pbc chief economist forum, lin yifu, dean and professor of the institute of new structural economics at peking university, yu yongding, academic member of the chinese academy of social sciences and former director of the institute of world economics and politics, and ceibs sheng songcheng, professor of the school of business and technology and former director of the survey and statistics department of the people's bank of china, guan tao, global chief economist of boci securities, lu ting, chief economist of nomura china, and other experts and scholars in the economic and financial fields focused on the implementation of the current policy package and follow-up monetary and fiscal policies. suggestions, as well as economic trends and other market concerns.