"Bee wise net" overall + smart home industry Summit Forum of China Canton fair pazhou Exhibition Hall in Guangzhou, eighth Conference. Conference invited many domestic industry experts and representatives of the trade, overall domestic industrial chain integration, industrialization of hardcover, Internet, smart home household industry and many other aspects of the status and the future development path.
Following is a forum record:
Host :Dear leaders, distinguished guests, ladies and gentlemen, friends from the media, Sofa Bed wholesaler and good afternoon, everyone!
Very welcome to "Bee wise net" Summit Forum of China + smart home industry as a whole, win-win ecosystem integration. I am the guest moderator of this forum, Liu Xiu, thank all of you here to give my applause and power, thank you!
Saying springtime in Guangzhou was back to the South, but no matter how wet weather outside the window, but will let the seeds germinate inside, the seed is our smart home and an overall eco-friendly ring fusion win before the official start of the Forum, please allow me to introduce the main leaders and guests here today:
Ninth CPPCC National Committee members, the National Federation Vice-Chairman, Mr CHENG Lu, President of Association of Western China, from Beijing haze Guangzhou, was supposed to hide behind smog, but ran back to the South.
Chenglu: members friends, talked about current of macroeconomic situation, part friends will has a is optimistic of mood, due to 17th, fed publicity maintained Fund rate not variable, is no raised interest rates, such on global of stock and currency produced has is big of effect, emerging economic body of capital into United States, and outflow slow, oil now rebound to 40 dollars, China of stock in 17th, zhiqian some estimates of, is China of stock occurred has changes, a week around has been in rose. Gem shot up badianji percent, a share is also full of red, said 2,800, now stands at 2,995 points Monday, according to those who say, is to enter the full 3,000 points.
Stock some adverse effects and cut each of them individually, as he considered that the registration system now solo fingering, in quite a long time of registration will not be implemented, the dispel some people's concerns. Meanwhile, circuit breakers, it was already being abandoned, and Thirteen-Five programming, people sing strategy emerging in Shanghai is not mentioned. Not to engage in strategic emerging gem is a great incentive. Of course, the overall effect of the Fed is absolute, these works are done in our country, Liu Siyu (homophonic) stage 20 working days, generally after two sessions would fall, but after the two sessions have skyrocketed, so stocks of the week 6th can have good sleep, walk again on Monday.
This feeling is not overly optimistic? Including the Yuan's exchange rate, now beyond calmed us dollars and Renminbi, RMB is about 6.4, both offshore are stabilized. China stock in last year appeared has three times tension zhihou, this year summer 6.26 in short of a week time within thousand unit trading, and thousand unit fell stopped, and thousand unit stopped Board, in launched fuse mechanism zhihou, this year spring fuse mechanism constantly of care, in 17 a day within, cities of market on elimination hide has 10.8 trillion, Europe of stock also in constantly of fell stopped, Europe many people put this reasons blamed Yu China, and blamed Yu we stock bad is economic down, and blamed Yu Yuan devaluation, certainly Yuan is demoted of very badly of. Due to Yuan of devaluation, especially away from Bank Yuan and in Bank Yuan of sharply fluctuations, last year Exchange of cut has to a compared serious of State, because away from Bank Yuan 6.6 block, in Bank Yuan 6.4 block, speculators through this away from Bank Yuan through trade items into China then changed hands, like 1 million dollars on is easily of can earned 100,000 dollars, such we exchange will constantly of cut. Therefore, the need to maintain a stable Yuan exchange rate is a very important State.
Now, the eligible US dollar compare, only euro and RMB and others are not eligible. This period in the United States after three rounds of quantitative easing, on December 17 last year to raise interest rates, central banks around the world a piece of loose, loose currency policy were implemented in Europe, Japan is negative, you also gave money to deposits. In such of situation Xia on we of pressure is is big of, many emerging economic body, this a round of world financial crisis to now has eight years has, this eight years in the we emerging economic body for fed whether raised interest rates back and forth toss, make of die, he make currency loose, then these currency are into emerging economic body, promoted bulk goods price rose, makes these prices rose, and currency devaluation, now he and raised interest rates, and then from emerging economic body national promotion dollars, gold devaluation. In many countries, as in last month's United States launch is December 17, now three months time, olive has suffered by many countries, like Venezuela, and Ba Xi, their currencies have been hard to sustain, including Egypt, are US dollars, was frightened by the Fed announced March 17 whether to raise interest rates to, tyranny of the initiative that is not central banks, but were forced to give up.
Egypt Egyptian pounds overnight devaluation of the 10%, he had nothing, no oil and no food is not enough to eat. China is now entering a new normal, economy in transition, this is not an easy thing to test very much. Now that we the RMB exchange rate basically stable, said us stock market to better these days, said commodity prices rebounded slightly, I think these are temporary. Fed rate hike do? Whether it can raise interest rates? Said on December 17 last year, exiting in 2016 to raise rates four times, on March 17, this time at two o'clock in the morning Beijing time, the President suggests that would only raise interest rates twice this year, we thought it might be a quarter without, 24 quarter plus one. How does he add? Such capital flight, currency will still be nervous. These problems are not resolved, is passively waiting for Fed rate hikes with no rate hike, which not is in your hands, the most important thing is to solve economic problems at home.
China's domestic economic problems now in the new normal, and we managed to complete the last year 6.9 economic indicators established by the Federal Reserve. Our February foreign trade in the first quarter of this year, import and export trade falling 15 points, exports drop 20 points, this is a very scary number. We drop so much in foreign trade last year, reflected in this year's Government work report, indicators of the growth of foreign trade is not mentioned, annually how much there is, is not mentioned at all this year, because there is no way to mention, has been falling apart. So we of economic, main is not turned also to turned, economic development more than 30 years to, especially 90 to now of 26 years to, past of those problem, and past of population bonus, and resources bonus, and export bonus three frame carriage investment of bonus now attenuation of is badly, this effect of problem has to not modified no of place, including resources of damage and so on are forced we must transformation, not transformation on unsustainable.
So how to shift? Lee last year in the Government work report, Internet +, presented for the first time made public for the first time venture, the much anticipated innovation, after that, setting off an innovative transition climax, this transition also had some effect. Economic decline for three consecutive years, China's main index of employment increased rather than reduced. Our employment target is 10 million two years ago, finished the 12.5 million, from last year's employment index is 10 million, 13.2 million were finished. Fed rate hike is in terms of unemployment rate, if the unemployment rate is below 6.5 will be cancelled. Now United States employment rates are very low, have fallen to 4.9, this time adjusting rates continue to rise, but the world economy, did he dare to raise interest rates?
China's economic downturn, the world economic downturn, currency States no, if the Federal Reserve continues to raise interest rates there is no way to clean up, is this situation. After a year of development of China's economy, mass start, the much anticipated innovation and Internet + relating to smart home is with us today, Internet + now in terms of what development? One is a communications platform, we are talking about the Internet + about hype, don't know what to say, intellectuals do not understand, what people understand. Another is the e-commerce. Electronic commerce as Internet minus, is losing some areas reduced prices, has certain advantages, but e-commerce makes a number of stores have closed, some workers were laid off, the loss of tax revenue, produces a lot of side issues. There is Internet banking, in some people's minds is that P2P, financing platform.
Some P2P monetary extortion, loan-sharking, like e rent Po, recently run, winding up, caught, Hefei took one yesterday, involving billions of payments. So Internet +, this Lee Prime Minister in work report in the clear of said financial reform must to to entity economic for, so we make Internet +, eventually should leads entity economic, not Internet + entity economic, we should good learning United States of industrial Internet and Germany of industrial 4.0, to more of reflected Internet intelligent of plate, and intelligent of manufacturing, and intelligent of system, and intelligent of products, in production process in the take intelligent of, eventually for entity economic service.
Public undertaking, the much anticipated innovation now, a lot of people are in financial innovation on the Internet, here are some Guide, for these young people is misleading, I think our next round of economic transformation must be real economic development. There is the current real estate situation a sales increase this year, but differentiation was, sales increased mainly in first-tier cities, and some second-tier cities, but three or four lines are still in stock. Cities sales is not living, is entirely speculation, more and more of the financial and real estate trends, it is very obvious.
United States of two of crisis is financial of, so line city of price too high, in two aspects is a problem, Shanghai Municipal Secretary said said Shanghai now wrapped with quilt queued in that led, buy room, that inside has virtual high of components, said sales Mong Kok of is line city, line city wants to short-term solution has difficult, because line city of place so big, population constantly of expansion, land more should is limited of. Now Beijing is now afraid to land, now King of land out, then how to control housing prices. But three or four cities to inventory task is very heavy.
China real estate economic growth so long a pillar of the industry chain of things, will still be a very good development, because, after all, to urbanization, demographic dividend, labor, inventory digestion can be solved. But there are some places, this stock is very serious, even our country now has 17 economic area, these 17 economic area is equivalent to Pudong new area, the recent batch of Changchun, Harbin. I went to these new ones, this district was a ghost town, to a House during the day, do not know anything, see skyscrapers. When it is evening, seeing no light, only those households living there. So this time we Thirteen-Five the five concepts: innovation, open development, green development, sustainable growth and shared development. Specific way to resolve is to inventory, inventory, fill the short version, protect the people's livelihood, stabilize the livelihood development, real estate is such a big problem. If you rely on real estate development, and can't transfer you want to transition.
These cannot be compared to Beijing, Beijing houses will not drop, Shanghai's House will not drop. But inventory is sure to go to, but also other ways, I believe that there are ways to solve this problem. Stock markets, too, trading too, be sure to maintain a steady growth. China's wild gyrations in currency markets, showed the immaturity of our markets, regulation is not mature, immature legal system, the system is not perfect, the shareholders do not mature, these can all be resolved in the future, including our finances. Financial interests does not appear systematic, financial risk, be sure to control these risks. These risks there are, is where corporate debt leverage, including our property. You leverage on the financial risk of real estate people are very apparent, and now financial risks there will not be, because financial is already large. We normally deposit yibaiduowanyi, this is a great advantage.
Meanwhile, our capital adequacy ratio far higher than the international standard of 13% and provisioning coverage ratio far above the required line 150%, this makes our financial systemic risk does not occur. However, China's economy to move forward, and be sure to follow such a principle to adhere to production capacity, inventory, and deleveraging. Because today's regulation we have continued to implement sound policies, and during the two sessions, economic growth was set at 6.5 to 7 financial level, last year was 6.9. 6.9 last year even if we complete the task this year is 6.5 to 7, why 6.5? This standard is convergence with our goal of a comprehensive well-off society. If we do not have level of 6.5, we can not solve the problem of employment, 6.5 can guarantee our jobs.
We have 1 million people in employment this year, but there are 7 million, so be sure to have a rate of 6.5. Rate of 6.5 to what standard? If we have a rate of 6.5, we begin this year Thirteen-Five planning, five years later, we can complete the Central 18 moved from 2010 to 2020 economic output doubled, public revenue doubled, then the threshold for the high income countries.
China now in middle-income countries, middle-income countries, Dining Table Directory it was suggested the word middle income trap, take in our box in the spell of middle-income countries. But middle income countries in entering the ranks of the few developed countries after the war, failure, and some in Japan, and Taiwan, and Singapore, and the rest still in the quagmire of middle income countries, or even half a century to extricate themselves. For example in South Asia, Thailand, and Malaysia, the Philippines, and still is a middle-income country. If we can't finish the 18 proposed during this five-year goal of doubling overall revenue, we have access to high-income countries. The threshold for the high income countries is $ 10,000, can it be done? I think I can do it. Because now, in accordance with last year's figures, we are in 31 countries, 10 countries have GDP per capita of over $ 10,000, the Grand Master. We grow at a rate of 6.5 per cent, by 2020 we can achieve national per capita income of $ 11,000, this is a great thing. So that we can out of the so-called middle-income trap in high income countries.