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World Economic Forum's "summer Davos" opened in the north-eastern Chinese city of Dalian this week with a focus on "meeting the innovation imperative" in Asia. Here are some selected comments from insiders:
Yale University Economist Stephen Roach:
The challenge for China is how to gain an increasingly greater role in market forces through continued liberalization and reduced government involvement. The government recognized these challenges and has outlined many of these reform directions and policy objectives in recent announcements. But what China needs is specific policy measures, and timely and focused implementation.
Research associate and China program manager at Peterson Institute for International Economics Nicholas Borst:
Premier Li’s focus seems to be on balancing the role of the state and the market, a difficult task given the influence of state-owned enterprises in some sectors of the economy.
Senior manager at Bank of Communication Tang Jianwei:
Premier Li's reform is to define boundaries between markets and government. The government will withdraw from certain areas where market and society can be of greater benefit.
Assistant dean of the Minsheng Securities Research Institute Guan Qingyou:
Rather than de-leveraging, "deregulation" would be more apt, as seen in his consistent calls for the introduction of private capital to reinvigorate market dynamics.
Production mananger: Andrew Xing
Production team: Andrew Xing, Jack Sun & Rain Wang
Produced by: Flora Yue
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