CICC Forum Examines China's Economic Rebalancing

The forum, which featured welcome remarks, keynote speeches, two thematic dialogues, and an evening discussion session, brought together experts and industry representatives from institutions including the International Monetary Fund (IMF), ASEAN+3 Macroeconomic Research Office (AMRO), Shanghai Advanced Institute of Finance (SAIF) at Shanghai Jiao Tong University, National University of Singapore, ICBC Standard Bank, Wood Mackenzie, and NSQ Capital.

The forum was led by Yanliang Miao, Chief Economist and Senior Managing Director of CICC, who shared his insights on China's economic transformation and the evolving international monetary order in his opening remarks and keynote speech. Miao noted that understanding China requires a global rebalancing perspective, considering both the dynamism of emerging industries and the implications of the transition from old to new growth engines for jobs, incomes, and demand. Alongside its green and digital transitions, China is also working toward a growth model supported by higher household incomes and services-led consumption. Turning to the international monetary order, he observed that shifts in the global economy, trade networks, and financial technology are driving the evolution toward a more diversified international monetary system. Economic and trade strength do not automatically translate into international currency status: institutional credibility and the depth and breadth of financial markets remain central to understanding this evolution and the internationalization of the renminbi.

Huimin Wu, Executive Dean of CICC Global Institute and Deputy Head of Research Department at CICC, highlighted that China's economy is entering a new stage of development, characterized by a paradigm shift in trade and outward investment, while emerging industries are becoming increasingly important drivers of growth in the global economy. These changes are both part of the broader process of global economic rebalancing and deeply shaped by it, giving rise to a new pattern of interaction between China and the global economy.

The forum brought together experts and industry representatives from a diverse array of institutions, including the International Monetary Fund (IMF), ASEAN+3 Macroeconomic Research Office (AMRO), Shanghai Advanced Institute of Finance (SAIF) at Shanghai Jiao Tong University, National University of Singapore, ICBC Standard Bank, Wood Mackenzie, and NSQ Capital. Discussions focused on the transformations of China's trade and outward investment and their global implications, as well as the prospects for emerging industries such as innovative pharmaceuticals, green energy, and artificial intelligence.

This marked the first time the CGI Quarterly Macro Forum was held in Southeast Asia. Taking place during the week of the IMF and World Bank Annual Meetings, amid international discussions on global economic opportunities and challenges, the event brought Chinese perspectives to the global conversation and offered Chinese insights into key issues concerning China's economy that are of broad international interest.

As an important part of CGI's ongoing efforts to strengthen international exchanges, present China's perspective, and foster a deeper understanding of China's economic transformation process, the event was an innovative exploration. Looking ahead, CGI will continue to deepen its international engagement and work toward building an international dialogue platform focused on China's economy, contributing to greater mutual trust and consensus, and playing a positive role in this cause.

Founded in 1995, China International Capital Corporation Limited (SSE: 601995) (HKE: 3908) (CICC) has a comprehensive network and cross-border business practices, enabling it to offer high-quality, value-added financial services to a diversified client base. This includes a full-service and balanced business model that offers investment banking, equities, Fixed Income, Currencies and Commodities (FICC), asset management, private equity, and wealth management services, all of which draw on its comprehensive research and technology capability. Headquartered in Beijing, the Group has over 200 securities business offices in China, and established subsidiaries or branches in places including Hong Kong SAR, New York, London, Singapore, Frankfurt, Tokyo, Ho Chi Minh City, and Dubai. As an investment bank with Chinese roots and an international reach, CICC is committed to providing first-rate financial services to both its Chinese and global clients to help them achieve their goals.