China's economic policies: the macro outlook with Qu Hong-bin, Chief Analyst, HSBC China
2010-06-23
Venue: The Westin Taipei, B1 Orchid Room
Date: Wednesday 23 June 2010 Time: 12:00–13:40
Cost: Members NT$1,300/ non-members NT$1,900
In spite of the global financial crisis and economic downturn in 2008 and 2009, China’s GDP growth remained impressive at 8.7% in 2009. China has already surpassed Germany as the world’s third largest economy and is close to taking the No. 2 spot from Japan. Along with impressive growth, China has seen a rapid rise up the value chain. China’s high speed rail technology has leap-frogged to world-class status while a number of companies have found international success including telecom’s equipment provider Huawei and electric car maker, BYD.
But China’s rise is not without problems. With rising wage costs and property prices, China is no longer the cheapest country for manufacturing. Moreover, accusations from the West that China is actively keeping its currency the renminbi weak in order to keep its products cheap is increasing pressure on China to allow the currency to appreciate. However, China’s attractiveness as a large and growing market not only for its own goods but also goods and services from the rest of the world, mean that interest in China as a place to do business will continue to expand.
Among other topics our guest speakers will discuss:
- How China’s economic policies steered the country through the economic downturn and what policies are likely to be adopted during the recovery
- How the impending Economic Cooperation Framework Agreement (ECFA) will affect cross-Strait economic policies and the impact this will have on Chinese, Taiwanese and European business.
- The prospects for trade relations between China and the West (the US and Europe) given increasing tension over currency exchange rates and the threat of rising protectionism
- China’s role in financing US debt and the implications of this for the broader economy
- China’s sovereign wealth fund’s increasing influence overseas through buying foreign assets
- The development of China’s financial markets and the opportunities associated with this.
About the speaker
Qu Hong-bin is Managing Director, Co-Head of Asian Economics Research and Chief Economist for Greater China at HSBC. He has been an economist in financial markets for 17 years, the past eight at HSBC. Qu is also a deputy director of research at the China Banking Association. He previously worked as a senior manager at a leading Chinese bank and other Chinese institutions. He is also a columnist for Caijing, the most popular business newspaper in China.
