On April 15^th, Renmin University hosted an international conference on the IMF’s 2016 World Economic Outlook (WEO). The event was jointly organized by RUC’s International Monetary Research Institute (IMI), the IMF Resident Representative Office in China, the Finance Committee of the European-American Foreign Student Association of China, and the Global Economics Big Data Center at the Central University of Finance and Economics. IMF Senior Resident Representative for China, Alfred Schipke, and Deputy Representative, Raphael Lam, IMF economist LIAN Weicheng, as well as former Deputy Bureau Chief of the State Administration of Foreign Exchange, WEI Benhua, delivered speeches; ZHANG Zhixiang of the People’s Bank of China presided over the meeting.

 ZHANG Zhixiang

WEI Benhua and Alfred Schipke opened the floor, with WEI offering an overview of the present global economic situation as well as his take on the Chinese development. He underscored the importance of the WEO for the international exchange of ideas on global economic issues and noted that although worldwide economic recovery continues, the pace of recovery is relatively slow. The Chinese economy is presently in a transitional phase: with emphasis on the New Normal, environmental protection, green economy, inclusive growth, and improving social welfare, economic growth has somewhat slowed down. WEI called on the international community to reaffirm its confidence in China, strengthen international cooperation, and decisively pursue policy measures that promote global economic development.

WEI Benhua

In his remarks, Alfred Schipke discussed decelerated global economic growth, highlighting the vast disparities between countries. However, as developing markets gradually recover, worldwide economic growth will pick up again. Schipke suggested that China’s slowed economic growth was due to a more green and balanced economic growth model. He suggested that developed economies further pursue structural reform and promote wise fiscal policy. At the same time, developing countries should adopt a more flexible monetary and exchange rate policy, as well as improve supervision in the financial sector.

Alfred Schipke

Raphael Lam

LIAN Weicheng

The World Economic Outlook is written by IMF researchers. It is an economic survey focused on the analysis of the global macroeconomic trends and economic forecasts and is published twice a year. Renmin University of China’s International Monetary Research Institute (IMI) has been a longstanding partner of the International Monetary Fund, having closely collaborated with the IMF in creating a platform for in-depth analysis and exchange on global economic development.