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Monthly Bulletin No 2019 06

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  • China Special Assets 50 Forum held in Beijing

会议综述

Think Tank Update

China Special Assets 50 Forum held in Beijing

The National Institution for Finance and Development (NIFD) of the Chinese Academy of Social Sciences (CASS) has held the inaugural China Special Assets 50 Forum in Beijing. Under the theme of “Opportunities and Innovations of China’s Special Assets Industry,” participants in the forum discussed such topics as how China should form an effectively competitive asset disposal market and how financial technology can contribute to the efficiency of special assets disposal. At the forum, participants exchanged views on how the special assets industry may assist China’s economic transition from investment-driven growth to efficiency-driven growth. The forum was attended and addressed by leaders from regulators, think-tank experts, and senior management personnel from over 10 leading companies.

Think Tank Opinion

NIFD chairman: U.S. grumbles about unfair trade are based on a complete lie

As U.S. external debts surpassed its gold reserves in 1960, the world economy entered into an imbalance where U.S. trade deficit corresponded to the trade surplus of other countries with the U.S. This imbalance has been growing ever since. Taking advantage of the dollar as an international reserve currency, the United States has benefited its nationals with abundant material wealth far beyond its production capacity by running trade deficits. Growing U.S. external debts, however, are paid or balanced through the issuance of currency. This conundrum has been facing the world economy and financial system since the establishment of the Bretton Woods system. The U.S. grumbles about unfair trade in spite of this reality is an expression based on either ignorance or ulterior motives.

NIFD released the Report on China’s Payment and Clearing Development (2019)

As the seventh annual report of its series published by NIFD, this edition takes stock of China’s payment and clearing system development, current status, problems, and future trends. The report reveals that in 2018, China’s payment business continued to develop rapidly with a sharp increase in the number of transactions. Payment business shows a clear trend toward smaller transaction volumes, which reflects further permeation of non-cash payments in economic life and strong growth potentials of China’s economy. The payment and clearing business indicators tended to have a stable correlation with economic performance over time - an indication that China’s payment system has come of age and is well-positioned to support its economic and financial transition and development.