2016/06/24

Wang Qinmin, Vice Chairman of the CPPCC and Chairman of ACFIC--Value and Play the Think Tank Role of the Global Advisory Council

I’m  very  happy  and  honored  to  be  here  with  all  of  you  at  the  CMIG-GAC  launch  ceremony & the first CMIG-GAC meeting. Let me  begin  by  offering  congratulations  to  the  founding  of  the  Global  Advisory  Council  on  behalf of the All-China Federation of Industry  and  Commerce  (ACFIC).  CMIG  is  an  outcome  against  the  policy  backdrop  of  the  comprehensively deepening reform and better giving play to the decisive role of market in resource allocation released by the third Plenary Session of the 18th CPC private  investment  company  initiated  by  the  ACFIC  to  promote  the  healthy  development  of  the  private  economy  and  respond  to  the  strong  appeal  of  private  entrepreneurs  for  common development. I hope CMIG could become a role model in guiding private companies during the transition and upgrading,  comply  with  the  developments  of  economic  globalization  and  build  a  platform  that supports and helps private enterprises to “go global”.
 
 
 
Either  serving  as  a  demonstration  or  constructing platform, CMIG calls for an advisory  council  with  international  exposure  and  strategic  vision  to  lend  strong  support. I’m  very  delighted  to  witness  the  successful  launch  of  the  Global  Advisory  Council  by  CMIG.  It’s  also  a  great  honor  for  me  to  meet  members of this high-level team and contribute  to  the  development  and  growth  of CMIG. I have every confidence that we are well-positioned to provide intellectual support for  China’s  private  enterprises  and  Chinese  economy thanks to the extensive experience and wisdom of each and every expert has to offer.
 
 
We are living in a world where the economic landscape is complex, many uncertainties  affecting  economic  operation  remain and a new round of industrial revolution  is  well  underway.  Domestically,  the  Chinese  economy  has  entered  into  the  new normal and shifted from rapid growth to medium  to  high-speed  growth.  Besides  that,  development  has  embarked  to  a  medium  and  high-  end  from  the  former  medium  and  low-end and evolved to a development stage featured by higher-level formats, more complicated  division  of  labor  and  more  reasonable  structure.  For  that  matter,  we  need  to  unswervingly  press  ahead  with  the  strategy of reform in economic structure and industrial transition and upgrading.
 
 
At  last  year’s  Central  Economic  Work  Conference,  General  Secretary  Xi  Jinping  made  an  incisive  description  about  the  new  normal of the Chinese economy and projected  a  navigation  mark  for  enhancing  the understanding about current economic  picture  and  future  economic  trend  from several perspectives, including changes in  growth  rate,  structure  survey  and  power  transformation.  This  series  of  background  is  critical  for  us  to  probe  into  the  development  trend of the private economy in China at current stage and in the future.
 
 
 
Two  topics  proposed  at  this  meeting  are  very  meaningful.  For  Chinese  private  firms,  changes  in  domestic  and  overseas  economic  landscape  are  not  only  pressure,  but also development opportunities. Comprehensively deepening reform,promoting rule by law and building a well-off society  in  an  all-round  way  have  spelled  the  vigor,  vitality  and  potential  for  the  Chinese  economy. Therefore, private firms shall capitalize  on  the  enabling  opportunity  of  global  industrial  transfer  and  the  structural  adjustment  of  the  Chinese  economy,  work  with each other, give play to respective advantages,  strengthen  industrial  integration  and  self-regulation,  conform  to  changes  in  the  economic  environment,  drive  transition  and upgrading through innovation and elevate quality and efficiency, thereby scaling new heights.
 
 
I believe CMIG could value and give play to the think tank role of the GAC, and step up efforts  in  studying  and  evaluating  domestic  and overseas economic landscape, industries  and  markets.  Based  on  target  analysis,  risk  assessment,  reasoning  and  prediction,  rational  judgment  and  strategies  consulting,  CMIG  will  brainstorm,  promote  the  integration and appreciation of capital, knowledge  and  economy,  advance  regional  economic  communication  and  cooperation,  lead  Chinese  private  companies  in  "going  global" and keep up with economic globalization as it seeks to contribute its due share to the healthy and sustainable development  of  the  Chinese  economy  and  the world economy as a whole.  In closing, I wish you all a fruitful meeting and wish CMIG a promising future.