CHINA-ECONOMY: FORMER CHINESE FINANCE MINISTER PROPOSES MEASURES FOR 'DUAL CIRCULATION STRATEGY'
Former Chinese Finance Minister Lou Jiwei spoke at the closed-door symposium of the influential 'China Economists 50 Forum' on September 15, when he shared some thoughts on China’s new economic framework – the dual circulation strategy (DCS). To make the dual circulation strategy work effectively, Lou Jiwei said: Speed up implementation of market-based reform of factors of production; Institute rules- and law-based governance to provide stability for businesses.; Keep infrastructure development from running so far ahead of other investments that it raises user costs and makes public debt unsustainable.; and Proactively shape new global commercial rules, as geopolitical tensions will increasingly affect the global industrial chain.
(Comment: The China Economists 50 Forum was founded by now-Vice Premier Liu He 20 years ago. It is made up of reform-minded policy advisors and former economic officials. Liu He hasn’t presented or spoke at the forum since becoming Vice Premier, but his office still sends people to attend.)
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