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Ning Gaoning, chairman of China Sinochem Group, said Monday that the uncertainty faced by Chinese enterprises this year has become relatively small, and they have more awareness of the environment. He believed that Sino-US trade frictions are the best education and warning for Chinese enterprises, and that R&D-driven phenomena are occurring strongly in large areas of Chinese enterprises.
At the Summer Davos Forum "China's Economic Prospects" sub-forum in 2019, he said frankly that all the pessimistic predictions of China's economy in the past 30 years were wrong. At present, the Chinese government has not implemented strong policies. Instead, it has carried out reforms such as "three go, one fall, one supplement" and three major battles. Under such circumstances, China's economic growth momentum is still strong.
"6.4% or 6.5% of China's GDP growth is of little significance. As long as employment is adequate, GDP can be as much as possible. Consumption, though not high at present, is already the biggest contributor to GDP growth." Ning Gaoning said.
Another key reason for his optimism and confidence in China's economic prospects is his observation of new changes in Chinese enterprises: after experiencing unprecedented trade frictions between China and the United States, he believes that the quality of Chinese enterprises will be greatly improved in the next decade. Now Chinese enterprises pay more attention to long-term planning, R&D and internal governance, investment is more cautious, and development mode is more rational. Chinese enterprises have really entered a very good stage of rational development.
"China is bound to become a R&D-driven country. R&D-driven phenomena are occurring in Chinese enterprises, and occur in a large area, very strongly. At this level, it's much better than in previous years. He added.
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