Infiniti sees China as most important market

Developers expect house market to stabilize

Chinese Vice Premier Zhang Gaoli (L) delivers a speech at the opening ceremony of the China Development Forum 2014 in Beijing, capital of China, March 23, 2014. (Xinhua/Huang Jingwen) 

China Development Forum 2014, with the theme "China: To Comprehensively Deepen Reform," opened in Beijing on Sunday.

Vice Premier Zhang Gaoli attended the forum and delivered a keynote speech.

China Development Forum, which was initiated in 2000 by the Development Research Center of the State Council, serves as a platform for business and academic leaders to interact with China's top policy makers.

China's reform fosters new growth impetus

Zhang Gaoli, Chinese Vice Premier 

"Deepening comprehensive reforms will significantly stimulate enthusiasm to innovate and start new businesses, enhance the dynamism of market entities and foster new endogenous momentum for growth" .

"Reform and opening up will bring new vigor to the economy and provide new room and opportunity for global economic growth".

China will always welcome and encourage foreign investment and share the country's prosperity and development. >>>More

China gets better social security system

Hu Xiaoyi, Vice Minister of Human Resources and Social Security

China is striving to turn its social insurance system, with focus on basic old-age pensions and medical insurance, aiming to cover all the population, into a fairer and more sustainable one.

China will also push reform in the pension system for government bodies and public institutions. >>>More

"Virtual" progress expected in China's interest rates liberalization

Yi Gang, Director of the SAFE and Deputy Governor of the PBOC

The People's Bank of China (PBoC) will prioritize reform on deposit interest rates this year after removing floor limit for lending interest rates in financial institutions in 2013.

Along with advancing financial reform, China will strengthen monitoring efforts, which include a withdrawal mechanism for institutions. >>>More

World economy an uncertain place

Zhu Guangyao, vice finance minister

The world economy will be "filled with uncertainties" in 2014, with unpredictable U.S. monetary policy and volatile growth in Europe and Japan.

He also pointed to risks associated with new geopolitical uncertainty, especially in Ukraine.>>>More

China to reform college entrance exam system

Lu Xin, deputy education minister

China is soon to unveil a reform plan on the college entrance examination, considering two separate test modes for technical and academic students.

The first mode, targeting the technically inclined students such as those who want to be engineers, senior mechanic and high-quality laborers, will assess the candidates' technical skills and textbook knowledge as a combination.

The second mode, the current practice throughout the country, test only textbook knowledge. The mode applies to the academically inclined students.>>>More

China to launch unified property registration

Hu Cunzhi, vice minister of land and resources

China will launch unified national property registration this year to regulate the real estate market and push forward urbanization.

Registration rules will be drafted and submitted by June to the State Council, China's Cabinet, and are expected to take effect this year. >>>More

China to start new economic journey: Lagarde

Christine Lagarde, IMF chief

China is about to embark on the next phase of a remarkable economic journey, aiming for higher quality and more sustainable growth.

"The journey has propelled it to the top tier of the global economy and lifted hundreds of millions of people out of poverty in a remarkably short period of time." >>>More

China should manage reform tradeoff, implementation

Sri Mulyani Indrawati, World Bank Managing Director

"The world economy is entering a new phase. The effects of the global financial crisis are starting to wane, and extraordinary monetary policies are being normalized."

China enjoys many economic opportunities, as the country shifts from a focus on investment and exports to domestic consumption. Many policy adjustments, including urbanization, can drive China's growth in the medium and long run. >>>More

Urbanization can close China's income gap

Margit Molnar, OECD economist

Urbanization can fuel inclusive growth and a more equitable income distribution.

Urbanization can create more equal opportunities and increase social mobility. To ease the urban-rural income disparity, Molnar advised China to delink eligibility for public services from residence status (hukou). >>>More

China on new growth track within 2 years 

Liu Shijin, deputy head of the Development Research Center of the State Council 

"We are trying to change growth tracks within the next two years and enter a new stable period".

The Chinese economy is yet to find the "bottom" or the equilibrium point for medium-to-high growth, Liu said, calling the presumed new track "new growth normality". >>>More