As a Council Member of the CEIBS Alumni Association HK/Macau Chapter, we we’re having our annual party yesterday. The highlight of the event is a special address by our beloved Xu Xiaonian, Professor of Finance & Economics at CEIBS and one of the currently most renowned and outspoken scholars in Mainland.
His presentation is about China’s Economy & Enterprises in the Post-Industrial Era (後工業化時代的經濟與企業）specifically he was talking about the slowing down of China’s economic growth since 2008. He believes that:
1. After years of fast growth since early 80’s China over the last 10 years has entered into a new yet slower growth phase of economic equilibrium
2. Needs to get rid of over (production) capacity; inventory; and leverage
3. China needs to upgrade its economy DNA from liquidity- and investment-driven to innovation- and entrepreneurship-led Prof Xu also mentioned a healthier economy should be constituted mainly by the private sector not SOEs…
and that what is needed most from the government right now is not favourable policies but a good, fair and stable system so that entrepreneurs could work on (制度比政策重要！）