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THREAD: CF40 just concluded the third Yichun Forum in northeast #China’s Heilongjiang province. Here are some takeaways from the keynote speakers:… 1/7
Chen Yuan, chairman of CF40 Executive Council: China should reconsider the strategic significance of its foreign reserves, turning it into the focus of financial
battlefield in the future from its past role as a highly reliable core fortune. 2/7
Zhou Xiaochuan, former #PBoC governor: Only when #RMB is truly internationalized, can China effectively deal with the side effects of various distortions at the global monetary market which is now dominated by US dollar. 3/7
Xiao Gang, CF40 non-resident senior fellow: China should speed up efforts to develop #AI and promote its combination with financial industry, which matters as it concerns whether China can seize opportunities brought by the new round of technology and industrial revolution. 4/7
Yu Yongding, CF40 advisor: The biggest challenge to China’s #economy now is a continuous decline in economic growth. Policymakers should rely on active fiscal policies to stop this from happening. It is not impossible for China to maintain high growth rate for ten years. 5/7
Zhu Jun, CF40 member: The continuously escalating China-US #trade friction has not only been an important external factor for the volatility of RMB exchange rate over the past one year, but also a huge root cause of instability on the global financial market. 6/7
Sun Tianqi,CF40 invited member: #Libra can be a new stimulus for China’s reform & opening-up.When China eventually realizes capital account liberalization, yuan's free floating & full convertibility, it would be more confident to open to digital currencies like Libra. 7/7
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