Academic session on China's economic outlook held at Peking University

An academic session on China's economic outlook held here at Peking University on Tuesday, with the participation of diplomats from nearly 30 countries.

Professors from Guanghua School of Management gave lectures on China's macro-economic situation, digital transformation, fiscal and taxation policies and new consumption models at the event.

According to Liu Qiao, dean of Guanghua School of Management, to achieve its economic goals, China needs to overcome long-term challenges including enhancing total factor productivity, modernizing its industrial structure, coping with labor displacement and resolving problems associated with an aging population.

Urbanization, efficiency in research and development (R&D) and investment inefficiency are other important issues for China to address in its future economic development, he said.

Diplomats from Britain, Italy, Australia, Belarus, Mexico and Egypt, among others, participated in the event, which was held by Peking University's Belt and Road Institute as part of a series of lectures on understanding China.

Administered by the Guanghua School of Management, the Belt and Road Institute is an international education and research platform that promotes the exchange of ideas that promote human progress, drive inclusive development, and create solutions to global challenges by engaging with government officials, business elites and students across the world.