Press conference on the 2nd "Understanding China" International Conference

    Press conference on the 2nd "Understanding China" International Conference Photo by Zhao Di

    CYOL November 3 (The China Youth Daily, by online reporters Li Chenhe and Wang Jingshuo) Press conference on the 2nd "Understanding China" International Conference was held in Beijing this afternoon. Former Mexican President Ernesto Zedillo, CIIDS Executive Vice Chairman Wu Jianmin, founder of the Berggruen Institute Nicolas Berggruen and former US Treasury Secretary Lawrence Summers attended the press conference.

    Zedillo said that, the guests discussed with the Chinese high-level administrators on the 13th Five-year plan launched recently, finding the Chinese government confident on China's economy. Chinese leaders refer to the "new normal economy," including some new policies necessary for achieving this goal. We noted that China had attached great importance to innovation, both technically and institutionally.

    Zedillo said that, through the exchange of ideas, we found that China was embracing globalization in an all-inclusive manner, and had achieved great success through international trade and investment over the past three decades. The Chinese leaders and government recognized the fact that China needs to accept and get engaged in economic globalization, while the existing international regime calls for innovation to some extent. To keep the international economy in good shape, we must strengthen the current global economic governance, as well as some of the mechanisms for security and peace.

Former Mexican President Ernesto Zedillo (Photo by Zhao Di)

    According to Mr. Berggruen, Chinese leaders have clear-cut and practical ideas on the future economic development. In the meeting with President Xi, he was impressed with two facts: First, the world needs a prosperous China, and vice versa, where China must interact with the world for mutual prosperity and play a constructive role in maintaining world stability; Second, China intends to supplement and contribute to the vulnerable spots of the financial architecture rather than reshape or rebuild it. China's leaders have very clear goals for maintaining a stable environment at home and abroad.

    He also stated that China was still a young country from the demographic point of view, and expected young people to unleash more strength, hoping that China can be more self-confident to create more content for foreigners to see. The world belongs to the young.

    Press conference on the 2nd "Understanding China" International Conference (From left to right: CIIDS Executive Vice Chairman Wu Jianmin, Former Mexican President Ernesto Zedillo, and founder of the Berggruen Institute Nicolas Berggruen) Photo by Zhao Di

    At the press conference, Lawrence Summers stated that China and the US had agreed to strengthen cooperation for better international economic coordination in access to common prosperity. As far as the two economies, China and the US, are concerned, it is unlikely to see one succeeding while the other failing in the coming decade. According to Lawrence, what encourages and inspires him is the tremendous confidence endowed in Chinese officials in the face of all kinds of challenges.

    Wu Jianmin said that the significance of "Understanding China" lies in reassurance. Once the concerns are mitigated, cooperation between the countries will be more feasible. China’s wellbeing facilitates the world’s wellbeing, and vice versa. We must shake off the obsolete mindset, seizing the opportunities and better addressing the challenges.