IMPORTANT NOTICE: THIS EVENT VENUE IS CHANGED TO LE ROYAL MERIDIAN HOTEL SHANGHAI
European Union Chamber of Commerce in China
Shanghai Session- China’s Consumption Challenge: Rebalancing China’s Growth
Date: Thursday, Aug 30th, 2012
Venue: Grand ballroom, Le Royal Meridien, Shanghai
Fee: Member: RMB 400/Non member: RMB 500
The price includes networking drinks
TOPIC: CHINA’S CONSUMPTION CHALLENGE: REBALANCING CHINA’S GROWTH
It is more than five years since Premier Wen Jiabao described the Chinese economy as increasingly unstable, unbalanced, uncoordinated and ultimately unsustainable. As China loses its demographic dividend and as the results of China’s 30 years of impressive growth are increasingly distributed in the wages of China’s workers, evidence of debt, bubbles and a sluggish global economic outlook have led to a debate whether a significant wave of reforms are urgently required to increase the role of consumption as China’s engine of growth.
The share of consumption as a percentage of GDP has decreased from 50% to below 35% based on official figures over the past 15 years, even though household consumption has been steadily increasing by more than 8% annually. However this share in GDP has been declining as GDP growth has averaged 10%.
Is China’s actual consumption as a share of GDP higher than official numbers suggest? What policy tools are available to rebalance China’s economy? Is it time for a new stimulus package, for easing monetary policies or for pushing for a consumption-driven approach? Should the government reduce subsidies given to business at the expense of households?
Leading economists Mr. Fred Hu ZuLiu, Mr. Arthur Kroeber and Mr. Patrick Chovanec will analyse the different alternatives available to meet China’s consumption challenge and its implications for China’s future economic growth.
Speakers:
Mr. Fred Hu ZuLiu, Founder and Chairman, Primavera Capital Group
Currently, Founder and Chairman, Primavera Capital Group, a China-based global investment firm. Dr. Hu was formerly a partner, managing director and Chairman of Greater China at Goldman Sachs, and was instrumental in building the firm's franchise in the region. He also served as an economist at the I.M.F. in Washington D.C, where he was engaged in macroeconomic research, policy consultations, and technical assistance. Dr. Hu has advised the Chinese government on financial and pension reform, SOE restructuring, and macroeconomic policies. He currently sits on Hong Kong Government's Strategic Development Committee and the Advisory Committee for the Hong Kong Securities and Futures Commission.
Mr. Arthur Kroeber, Founding Partner, GK Dragonomics
Arthur has lived and worked in Asia since 1987 and has been the Beijing-based managing director of Dragonomics since 2002. Before joining Dragonomics he was a journalist specializing in economic affairs, and reported from China, India, Pakistan and other Asian countries. He has published widely in newspapers, magazines and academic journals, and is a fellow of the Brookings-Tsinghua Center in Beijing. He now manages GaveKal's entire research operation, including both GKDragonomics and GKResearch's global coverage.
Mr. Patrick Chovanec, Associate Professor, Tsinghua University's School of Economics and Management
Patrick Robert Chovanec is an Associate Professor of Practice at Tsinghua University's School of Economics and Management in Beijing, China. A former political aide to senior Republican Party leaders in the U.S., he is a frequent and influential commentator on China's economy, US-China relations, and other global issues in both the international and Chinese media. China's Global Times named him one of the 10 foreigners who had the most influence on China in 2009. His blog was named by the Wall Street Journal as one of "The Best Economics Blogs" for 2010.
Moderator:
Mr. Piter de Jong, Vice President, European Union Chamber of Commerce in China
Agenda:
16:00–16:30 Registration
16:30–16:35 Welcome remarks by moderator
16:35–17:20 Main workshop
17:20–18:00 Panel discussion with Q&A session
18:00–18:30 Networking drinks
Event Terms & Conditions
Please note that, though all are welcome to attend our events, we strongly recommend that you register online with us in advance so that we can keep you updated on any changes in the event schedule. From time to time, due to unforeseen circumstances we need to change the time or venue of an advertised event. So please do let us know by registering online if you plan to attend an event so that we can keep you informed.
To register for this event please register online by 18:00pm 29th Aug. Please note that we will send you a registration confirmation. We require 24 hours notice for cancellations, no-shows who fail to cancel before this time will be invoiced for the event. Registrations done after the deadline will be accepted only if space permits and are charged an additional 50 RMB walk-in fee. For any further enquiries or registration, please contact Xi Chen at xchen@europeanchamber.com.cn or 63852023-116.