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The 21st Peking University Guanghua New Year Forum Held

Source: China Finance News Release time: 2019-12-17

On December 14th, the 21st Peking University Guanghua New Year Forum was held in Beijing. The theme of this forum is "Exploring New Momentum in the New Era", focusing on the prospects for China's economic development in the new era, focusing on high-quality development paths, and exploring new sources of development. power.

Beginning in 1998, as one of China's most authoritative and forward-looking events for the exchange of ideas, this year's New Year's Forum started with the core issues and invited a number of heavyweight guests to explore the answer to the times.

Zheng Jianbang, vice chairman of the CPPCC and executive deputy chairman of the National Revolutionary Committee, Xu Xianping, counselor of the State Council and former deputy director of the National Development and Reform Commission, Li Lihui, former president of the Bank of China, former deputy secretary-general of the National Development and Reform Commission, Fan Hengshan, director of Huawei and director of the Strategic Research Institute, Xu Wenwei, Zhang Yipeng, Vice President of Inner Mongolia Yili Industrial Group Co., Ltd., Ai Yu, CEO of Tesslink, and Shi De, Co-founder of Bubble Matt, attended the forum and gave speeches.

Professor Wang Bo, Member of the Standing Committee and Vice President of the Party Committee of Peking University, and Professor Liu Qiao, Dean of Guanghua School of Management, Peking University, spoke at the forum. At the same time, the forum also specially invited five Guanghua professors Zhou Li'an, Liu Xiaolei, Wu Changqi, Zhang Zhixue, Ma Li and the speakers to have a one-on-one discussion and had a wonderful and interesting interaction.

Welcome speech by Wang Bo, Member of the Standing Committee of the Party Committee of Peking University and Vice President

On behalf of Peking University, Wang Bo, member of the Standing Committee of the Party Committee and vice president of Peking University, extended warm congratulations to the opening of the New Year Forum and expressed heartfelt thanks to the community for their support to Guanghua.  

"Mr. Feng Youlan said that universities need to cultivate people, not instruments." Vice President Wang Bo emphasized that people cultivated by the university should care about the world, keep a clear head, and better assume responsibility for the world. Peking University has never lacked the spirit of endeavor and exploration. Peking University people always have a longing for and longing for a beautiful China, dare to look directly at the challenges, and seek answers. From shareholding system, property rights reform, securities law to Article 36 of the non-public sector, poverty alleviation and development to share equity reform, low-carbon economy, etc., Guanghua has always dared to be the responsibility of the times, and has continuously contributed important ideological and theoretical results to the country.

He said that the just-concluded Central Economic Work Conference mentioned that it must be good at removing institutional obstacles to development through reform and activating dormant development potential. This is exactly the important content to be discussed in this New Year Forum. He hopes that the guests will fully express their views and provide more thoughts for “forging a new era and exploring new kinetic energy”.

Zheng Jianbang: Continuously optimize the business environment to stimulate market vitality

Zheng Jianbang, vice chairman of the CPPCC National Committee and executive deputy chairman of the National Revolutionary Committee, attended the forum and delivered a keynote speech. Zheng Jianbang said that in the coming 2019, the situation facing the Chinese economy is extremely severe and complicated. "In the face of complicated situations, the most important thing is to do your own thing." He said that in recent years, centered on advancing the modernization of the national governance system and governance capabilities, China's reform efforts to optimize the business environment have been more vigorous, more precise, and more rhythmic Faster, it becomes a key move to deepen reform, expand opening up, and promote the economy towards high-quality development.

China has entered the ranks of the economies with the largest improvement in the business environment in the world for two consecutive years. Optimizing the business environment not only spawned a large number of market players, but also accelerated the continuous conversion of new and old kinetic energy. "It should be seen that the business environment is not the best, it is only better." Zheng Jianbang said that the current business environment in China still has some outstanding shortcomings, and there is still a gap with the international advanced level of benchmarking to create a first-class business environment expected by society. Still a long way to go.

He said that to continuously optimize the business environment, we must continue to tightly control the "bull nose" of simplified administration and decentralization, and promote the reform of "decentralization and service" with greater efforts; to continuously optimize the business environment, we must standardize and innovate supervision and law enforcement for innovation Entrepreneurship provides fertile ground for growth; constantly optimize the business environment, we must adhere to the problem-oriented, and effectively increase the "sense of gain" of market players; continuously optimizing the market environment is a systematic project, and in the final analysis, we must accelerate the improvement of the socialist market economic system.

  Xu Xianping: New infrastructure, building a new structural force in the digital age

Xu Xianping, counselor of the State Council and former deputy director of the National Development and Reform Commission attended the forum and delivered a keynote speech.

Xu Xianping said that in the digital era of the Internet of Everything and the Human-Machine Intelligence Alliance, digital resources have become a powerful new driving force for industrial transformation and upgrading. We advocate "to be rich and build roads first", which is becoming "to be strong and go online first." ; With the commercialization of 5G technology, the Internet extends to the Internet of Things. In a sense, the Internet is addition, and the Internet of Things is multiplication.

Xu Xianping pointed out that the new infrastructure is oriented to meet the needs of a new round of scientific and technological revolution and industrial change, and is supported by digitalization and intelligence. It is a new structural force in the digital age and an information highway in the digital age. He summarized the connotation of the new infrastructure as two: one is connection, connecting the network and platform; the other is computing, including computing power and algorithms. Connection is the foundation, and computing is the core. The characteristics of the new infrastructure can be summarized into five: technical iteration, both hardware and software, collaborative integration, value empowerment, and investment diversification.

Xu Xianping said that by the end of 2019, 130,000 5G base stations will be opened nationwide, and 50 cities will start 5G commercial use. The application scenarios of the new infrastructure have now reached a certain scale, and the future development space is huge. However, we must see the shortcomings facing the new infrastructure: on the one hand, key core technologies and equipment are heavily dependent on imports; on the other hand, the proportion of basic research investment is too low. Xu Xianping pointed out: Without high-level and high-intensity basic research investment, it will be difficult to produce original and disruptive scientific and technological achievements, it will be difficult to form an independent technical route and technical standard, and it will only be possible to follow other people. Xu Xianping suggested that the initial investment of the new infrastructure is large, the application scenarios are yet to be developed, and policy tools are needed to support innovative financing models. At the same time, trying to revitalize various types of operating infrastructure stock assets by issuing publicly-raised REITs can not only provide new financing tools for incremental investments, but also reduce government and corporate financial risks.

Guanghua Dialogue: New Infrastructure Is One of the Specific Paths for New and Old Kinetic Energy Conversion

At present, the Chinese economy is facing downward pressure and uncertainty is increasing. Where is the next point for China's economic growth? Where is the transformation direction? As a concrete path for the transformation of old and new kinetic energy in the Chinese economy, how much social capital can be leveraged? Focusing on these topics, Zhou Li'an, dean and professor of Guanghua School of Management, Peking University, and Xu Xianping, counselor of the State Council and former deputy director of the National Development and Reform Commission, started a dialogue.

"The new infrastructure is actually a concrete path for the transformation of old and new kinetic energy in the Chinese economy to achieve high-quality growth." Zhou Lian believes that if the support behind the old infrastructure is reinforced cement, the support behind the new infrastructure is technological innovation. Therefore, the new infrastructure itself contains not only the upgrading of the industry, but also the great progress of technology.

Xu Xianping said that regarding the amount of social funds that REITs can leverage as a new financial tool, Xu Xianping said that from 1981 to 2018, the total amount of fixed investment was about 420 trillion. According to the standard public offering of REITs, It can probably revitalize the amount of four trillion to twelve trillion yuan, and using this as capital can drive investment of twenty trillion to nearly four trillion yuan.

From a policy perspective, how does finance, banking, industry, etc. support the construction of new infrastructure? In this regard, Xu Xianping believes that in terms of fiscal policy, special bonds and local government bonds were mainly used for infrastructure construction in the past, and new infrastructure should now be given top priority. In terms of industrial policy, land, electricity and tax incentives are provided for 5G base stations.

"I have been dealing with the Development Bank for more than 20 years. As a policy bank in the past, about 90% of the funds were invested in infrastructure, basic industries and pillar industries. Now it is even more necessary to give play to the role of development finance. Medium and long-term loans provide more favorable interest rates to support new infrastructure. "Xu Xianping said.

Li Lihui: Unbalanced allocation of financial resources, currently there are "four low"

Li Lihui, former governor of Bank of China, attended the forum and delivered a keynote speech. Li Lihui said that imbalance in the allocation of financial resources is a problem that is often mentioned and has been difficult to resolve. It is necessary to explore deep-seated reasons, and seek to deepen financial supply-side structural reforms and empower the real economy with a viable path.

He believes that the current imbalance in the allocation of financial resources has "four lows": private enterprises have a low proportion of financing, low valuations of listed banks, low proportion of direct financing, and low motivation for fixed asset investment. "The four low coexistences at the same stage should have an internal connection." Li Lihui analyzed that the emergence of this situation is related to the limitations of traditional credit models, the limitations of administrative means, the limitations of primary capital markets, and the limitations of private enterprises. Sex.

The Central Economic Work Conference proposed that the service focus of large banks should be guided, small and medium banks should be focused on their main responsibilities, deepen the reform of rural credit cooperatives, and guide insurance companies to return to security functions.

"Financial stability and economic stability; financial value-added, economic efficiency can be increased. On the other hand, the economy is good, financial can be good, economic efficiency can be increased, and financial value can be enhanced." Li Lihui said that to deepen financial supply-side structural reform, we must focus on the long-term. , Pragmatic and feasible.

In order to effectively solve the current problems in the allocation of financial resources, Li Lihui put forward specific policy recommendations in four aspects: building a digital trust mechanism, improving market-based pricing mechanisms, improving fiscal taxation systems, and improving the capital market.

Guanghua Dialogue: How to penetrate the "island" of data?

Focusing on the hot spots in the financial field, Liu Xiaolei, a professor at the Guanghua School of Management, Peking University, and Li Lihui, former governor of the Bank of China, started a dialogue.

"To support the development of small, medium and micro enterprises, how can banks and Internet technology companies leverage their advantages? How can they penetrate data 'islands' and make more accurate judgments on small and micro enterprises, thereby reducing their operating costs? Establish multi-centralization The blockchain or a unified data center, which approach is more secure and which is more efficient? "Liu Xiaolei's question to Li Lihui is quite cutting-edge.

"Doing a good job in the financial industry and solving the problem of financing difficulties and expensive financing for small and micro enterprises requires the concerted efforts of the whole society." Li Lihui said that the focus of service of large banks should be sunk; small and medium banks and small and medium financial institutions should provide small and micro enterprises directly. More financing; science and technology enterprises can provide financial information to financial institutions through computing advantages and data capabilities.

Li Lihui believes that penetrating data silos and establishing a social integrity system are particularly important. One of them is to build a trustworthy data system. How to establish such a system? He pointed out that at present, the data of various departments is still divided, and now some local governments have focused on establishing unified information and data, and have achieved initial results. He also pointed out that companies with data, such as e-commerce and mobile communication vendors, should also provide public information data.

So, to establish a sound risk control system, which scenarios are suitable for establishing a multi-center blockchain, and which scenarios are suitable for establishing a unified data center? Li Lihui said that this depends on our judgment of the scene. For example, when launching fiat digital currencies, we should adhere to a centralized management model; however, in general data sharing, it is entirely possible to establish a multi-center, distributed Technology structure to share information, but at present, the bottleneck of large-scale application of blockchain has not completely broken through, and still needs efforts.

Fan Hengshan: Regional collaboration to unlock the growth potential of factor reform

Fan Hengshan, former Deputy Secretary-General of the National Development and Reform Commission, attended the forum and delivered a keynote speech. "As the economic base continues to increase, the adequacy of resource supply continues to decline, and the difficulty of technological innovation continues to increase, the phased adjustment of economic growth and the downward adjustment is an inevitable process." Said Fan Hengshan, this special meeting of the Central Economic Work It is emphasized that we must ensure that the economy operates in a reasonable range and take effective measures to achieve an organic combination of economic growth and qualitative improvement.

Regarding how to mobilize and stimulate potential to drive economic growth, Fan Hengshan believes that regional development is a particularly important aspect. "If the purpose of regional policy is mainly to reduce unreasonable regional differences, then our regional policy and regional development today should assume the important mission of promoting stable economic development and promoting economic growth in a reasonable range."

However, regional development still faces some outstanding issues, such as the obvious status of regional differentiation, regional development power disparities, and relative poverty. In this regard, Fan Hengshan suggested that, first, the spatial unit of regional policy should be appropriately detailed, or the spatial unit of regional policy guidance should be appropriately detailed. Second, we will focus on implementing guidance by type. Third, strengthen strategic support in less developed regions. Fourth, vigorously promote urban-rural integration. Fifth, implement high-level poverty alleviation projects. Sixth, vigorously promote open cooperation between regions to complement each other. Seventh, strengthen digital support for regional development.

Guanghua Dialogue: Grasping Regional Development Strategy Opportunities to Promote High-Quality Development

Focusing on the hot topics of regional economic development at the forum, Wu Changqi, a professor at the Peking University Guanghua School of Management, had a dialogue with Fan Hengshan, former deputy secretary general of the National Development and Reform Commission.

Wu Changqi said that the regional spatial development strategy is very important for China's development. At present, China is accelerating the implementation of regional development strategies. Shandong, Fujian and other places are not in the core provinces that implement related development strategies. So how should they follow the trend? What is the path and model of China's regional economic development for the countries and regions along the “Belt and Road”?

In this regard, Fan Hengshan said that for provinces such as Shandong and Fujian that are not at the core of the implementation of regional development strategies, the first can be “looking around and reaching the source”, closely liaising with these related provinces, strengthening cooperation and linkage, Strategies related to integrated development and the construction of the Guangdong-Hong Kong-Macao Greater Bay Area require a re-examination and layout of local industries. Secondly, we can “borrow ships to go to sea” and transplant the relevant development strategic missions of the Yangtze River Delta, Pearl River Delta, and Beijing-Tianjin-Hebei to our own development. Thirdly, we can "have nothing out of nothing", that is, we can use modern technology, leverage the beneficial experience of others, and leverage national strategies to promote ourselves in the new economic development. He believes that the national conditions of the countries along the “Belt and Road” are very different. To learn from international experience including China ’s experience, they need to “classify guidance and work together”.

Xu Wenwei: 5G enables industry upgrade, technology drives value chain reshaping

Xu Wenwei, director of Huawei and director of the Strategy Research Institute, attended the forum and delivered a keynote speech.

Xu Wenwei pointed out that the ICT infrastructure represented by 5G, the Internet of Things, and the cloud is the cornerstone of the smart world. The rapid development of 5G, AI and cloud computing will promote the digital transformation of thousands of industries, and the industry will enter the digital economy stage represented by "intelligence."

What's so good about 5G? What can change? Xu Wenwei believes: "5G is not only fast, but it is not only one G. It also has three important characteristics: ultra-bandwidth, 5G is 10-20 times that of 4G; wide connection, one square kilometer 5G supports up to one million Connection can realize the interconnection of all things; low latency, the shortest delay is less than one millisecond, which can meet a lot of business requirements that require delay. "He concluded:" 4G changes life, 5G changes society ".

So, how will 5G change society? Xu Wenwei pointed out: Technology will help humans to cross the boundaries of physical and intellectual, such as 5G equipped unmanned mining trucks can avoid human casualties; technology will improve human living environment, such as 5G will improve the accuracy of road hidden danger identification. In these senses, 5G can make society better.

Xu Wenwei believes that at present is on the eve of "new theory and new technology exploding again", facing the future, how can we stand up in the next round of the industrial cycle? Xu Wenwei suggested upgrading from three aspects: first, the upgrading of the industrial chain must be based on long-term basic research in order to continue to maintain the ability to innovate and be irreplaceable in high-tech areas; second, the upgrade of innovation is from "innovation" Upgrade to "invention" to achieve theoretical breakthroughs and technological inventions; once again, to achieve scientific research upgrades, in particular, to develop root science and technology and increase basic core research; in addition, we must also focus on "open" upgrades, adhere to open cooperation, and adhere to In line with the global scientific research system.

Guanghua Dialogue: Cooperation between universities and enterprises is a two-way gain process

In the context of the advent of the intelligent era and the reshaping of technology-driven value chains, Zhang Zhixue, professor of Guanghua School of Management, Peking University We had a dialogue with Xu Wenwei, director of Huawei and director of the Strategy Research Institute.

Zhang Zhixue has studied Huawei for many years, and he revealed his unchanged view over the years: If China has a world-class enterprise, it is Huawei. He used data to point out the strength of Huawei's investment in research and development: Huawei's 2018 sales accounted for 0.78% of China's adjusted GDP, while Huawei invested 101.5 billion yuan in research and development, accounting for 5.2% of the country. Its patents account for 10% of China. Therefore, Zhang Zhixue asked Xu Wenwei to elaborate on profound issues such as the "relationship between invention and innovation".

Xu Wenwei believes that the frontier of innovation is the invention of basic technology and breakthroughs in basic theory. Without innovation, there is no innovation. Universities are the source of theoretical and technological inventions. Because scientific research has a high degree of uncertainty, it requires multi-path exploration and research. The cooperation between universities and enterprises is a process of two-way gain. Enterprises provide challenges and problems in the industry and provide commercial scenarios and requirements. The invention of basic technologies should be in universities.

"Huawei has cooperated with hundreds of universities around the world, has more than 60 basic technology laboratories around the world, and has worked closely with Peking University in frontier interdisciplinary, medical and other fields. It has established a joint laboratory for intelligent media and a joint laboratory for mathematics. Together, we will solve future problems and challenges. Facing the future, Huawei will move from the innovation 1.0 phase of products, technologies and solutions based on customer needs to the innovation 2.0 phase based on vision and hypothesis-driven basic technology inventions and breakthroughs in basic theory. " Xu Wenwei said.

Roundtable: How can new technologies help traditional enterprises transform and upgrade?

The roundtable dialogue of this forum focused on the development of private enterprises. Professor Ma Li from the Guanghua School of Management of Peking University and three private entrepreneurs, Zhang Yipeng, vice president of Inner Mongolia Yili Industrial Group Co., Ltd., Ai Yu, CEO of Teslink, and Shide, co-founder of Bubble Matt Motivation and innovation have launched exchanges and discussions.

Cultural product updates are iterating fast. How can companies respond to challenges? How can new technologies empower traditional enterprises to transform and upgrade? What are the biggest challenges facing companies in the process of internationalization? During the conversation, Ma Li threw a series of sharp questions to the three enterprise managers.

Zhang Yipeng said that compared with 20 years ago, China's per capita milk consumption has increased, and the per capita milk consumption in first-tier cities such as North, Shanghai, and Guangzhou has reached more than 50 kg. Nevertheless, China's per capita milk consumption is still less than one third of the world's per capita. In recent years, Yili has paid more attention to refined management and product quality. With regard to quality, we understand not only the quality and safety of products, but also marketing services and experiences, as well as paying attention to the deeper nutrition and health needs of everyone.

Ai Yu believes that as China's aging problem continues to emerge, the only way to maintain stable economic development in the future is to achieve economic transformation and increase efficiency through new technologies. It is foreseeable that in the future, no matter what industry you are in, scenarios and data may become very important resources. Although the current socio-economic development faces many challenges, we also need to see hope. Especially on the track of intelligent and intelligent economy, China is in a leading position.

Sid believes that digitization provides a lot of visualization dimensions for the operation and management of enterprises, and makes the granularity of visualization very fine. In the future, every enterprise must embrace digitalization, but digitalization is only a foundation. How to continuously innovate the operation and management of enterprises under digital conditions will be a problem that every enterprise should think about.

Liu Qiao: How should we discuss the Chinese economy rationally?

"If we avoid or mistake mid- and long-term structural challenges as short- and medium-term macro policy issues, we blur our understanding of the nature of China's economic problems." Professor Liu Qiao, Dean of the Guanghua School of Management, Peking University, delivered a closing speech. Mentioned.

Liu Qiao believes that the essence of China's economy is how to improve total factor productivity when the industrialization process is almost over after the period of rapid growth. This is the most important first issue we must face. Judgment on the future growth rate of total factor productivity largely determines our views on the medium and long-term Chinese economy.

He said that whether total factor productivity can be improved depends on the ability to find new momentum in the Chinese economy and how to effectively release it. Since statistics are available in human history, no country has been able to maintain a TFP growth rate of about 3% after completing the industrialization process. Is it possible for China to create another miracle?

The answer may be hidden in four new kinetic energy: first, "reindustrialization" (digital transformation of industry)-the industrial Internet; second, "new infrastructure"-"infrastructure required for reindustrialization"; third , Large country industry; fourth, the more thorough reform and opening up brought about the improvement of resource allocation efficiency.

The forum was hosted by Phoenix Satellite TV host, Wang Feng, a 2019 MBA student at Guanghua School of Management. About 1,200 invited guests, alumni, teachers, students and media representatives of Peking University and Guanghua listened at the scene. ;同时, 百余名记者参会报道。 In addition, this forum also passed 14 platforms of China Net, Surging News, Sina, Tencent, NetEase, Phoenix, Caixin, Economic Observer, Daily Economic News, Zhenghe Island, Beijing News, Today's Headline, Station B, and Express. Simultaneous live broadcast, hundreds of thousands of audiences watched simultaneously; at the same time, more than 100 reporters participated in the report.

本报记者刘国旺实习生严馨 ( Yan Xin , intern of our reporter Liu Guowang )

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