Scholars share China's economic outlook in Tokyo

TOKYO, May 23 (Xinhua) -- Three Chinese scholars visiting Tokyo have given a lecture here on "Understanding China's Economy," shedding light on the current challenges and the immense potential of China's economic development.

Held at the Chinese Embassy in Japan on Wednesday, the lecture attracted around 60 guests from Japan's political, business and academic circles.

Liu Qiao, professor of finance and dean of Guanghua School of Management, Peking University, used a large amount of data and charts to introduce China's drive to grow new quality productive forces, and discussed key areas to focus on to achieve Chinese-style modernization, including promoting a high-level cycle of science and technology, finance and industry.

To implement a proactive fiscal policy, China still has a lot of tools and space, Liu said, adding he remains optimistic about the future development of China's economy.

Chen Weidong, director of the Research Institute of Bank of China, introduced in detail the performance of China's economy in the first quarter in terms of consumption, supply and prices, pointing out that although China's economic development faces some challenges, there is still significant growth potential.

Chen told the audience that by promoting innovation, green transformation, digitalization and intelligent technologies, China has gradually synchronized with or even led the world in the development of new technologies such as new energy development, 5G applications, quantum technology development and AI technology development.

Tu Xinquan, dean of the China Institute for WTO Studies at the University of International Business and Economics, mainly discussed the development of electric vehicle industry in China, noting that it represents an opportunity for industrial upgrading and an approach to green transformation.

Tu said from the perspective of the global green transition, new energy vehicles are still in their early stages and there is significant market potential, refuting claims from some countries that China's NEV industry is facing so-called overcapacity.