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Overseas academics share their thoughts on China's reform policies

(chinadaily.com.cn)

Updated: 2016-03-15 15:55:25

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Christopher Bovis, professor of European and International Business Law, University of Hull, United Kingdom.

Overseas academics share their thoughts on China's reform policies

China's OBOR strategy represents an intelligent strategy for infrastructure investment not only because is focuses on environmentally sustainable financing but also on economically sustainable investments.

The key component in such strategy is its long-term vision and predictable growth patterns.

Green finance emanating from China's OBOR strategy will provide a long-lasting solution to the existing subsidy and state aid into sustainable and efficient infrastructure investments, without which such investments would not have been materialized.

A wide range of industries in the European Union and in other countries across the world rely on public subsidies and cross-financing, as currently their business models are not market-sustainable.

The Silk Road Fund will provide a significant operation of the AIIB, which will bear the major part of financing infrastructure investments in Europe and developing countries along the silk trade route.

The Silk Road Fund will create unprecedented competitive financing opportunities in delivering infrastructure and creating assets which will provide public services.

Chinese outward investment and private equity transactions emanated from the winds of free trade and market access in the EU.

A more sophisticated approach was introduced a few years ago which focused investments in either intellectual property gains or value chains.

Chinese investments have been diverted in a variety of industrial sectors over the past decade, such as energy ($17bn), automotive manufacturing ($7.7bn), agriculture ($6.9bn), real estate ($6.4bn), industrial equipment ($5.3bn), and information and communications technology (ICT) ($3.5bn).

Infrastructure investment is a method of ensuring market connectivity, in addition to significant geopolitical influence.Overseas academics share their thoughts on China's reform policies

Shada Islam, Policy Director of Friends of Europe, Brussels-based think tank

Overseas academics share their thoughts on China's reform policies

It is fascinating to watch the economic transformation of China.

There really isn't just one issue or reform initiative that stands out – it's the very impressive entire economic transformational package – as reflected in the 13th Five Year Plan - which we will be watching carefully.

For Europeans, many parts of the "new normal" economic rebalancing act as articulated by the Plan and China's switch to high–quality growth open up important venues for increased cooperation in areas such as green growth, innovation, urbanization and anti-pollution strategies.

Overseas academics share their thoughts on China's reform policies

 

 

Eric Chinje,Administer-Director general of African Media Initiative

Overseas academics share their thoughts on China's reform policies

I was most impressed by the commitment by President Xi Jinping in Johannesburg in December 2015 to stay involved in Africa and inject some US$60 billion into the regional economy in loans and grants.

Such amounts could effectively transform the economic landscape of Africa if the resources could go into well-defined regional projects instead of self-serving micro projects at the national level.Overseas academics share their thoughts on China's reform policies

Iris Jin, Senior Program Manager

Overseas academics share their thoughts on China's reform policies

In particular the commitments made for COP21 are ambitious and set the bar for other countries.

I am also impressed by President Xi's attempt to address corruption issues.

This is a very difficult agenda to make progress on.

 

 

Overseas academics share their thoughts on China's reform policies

Eva Busza, Vice-President, Research and Programs

Overseas academics share their thoughts on China's reform policies

I have been most impressed by the emphasis that the Chinese government has placed on addressing environmental problems and advancing the climate agenda.