US EUROPE AFRICA ASIA 中文
    Business / Hangzhou G20

    China can promote market liberalization, says TheCityUK expert

    By Cecily Liu in London (chinadaily.com.cn) Updated: 2016-09-01 18:06

    China can promote market liberalization, says TheCityUK expert

    Gary Campkin, director of policy and strategy at TheCityUK

    China can play a big role in furthering the G20 Leaders Summit agenda to enhance economic growth through greater liberalization of markets, according to an expert with a London financial industry association.

    While the global economy is affected by uncertainties, including Brexit, Gary Campkin, director of policy and strategy at TheCityUK, said China's increasingly open and liberal markets are providing opportunities and acting as a catalyst for world economic growth and financial innovation.

    He said an open trade and investment relationship with China will be especially important to Britain after it leaves the European Union.

    "We would value the continuing development of an invigorated trade and investment relationship based on openness of each other's economies," he said. "This would represent a significant contribution from China, which shares the UK's interests in ensuring the process of Brexit leads to a stable outcome for the global economy."

    In addition, Camkin said his team also looks forward to China helping to make progress on G20 objectives such as global regulatory coherence, governance and transparency. He said the summit can also play an important role to reach agreement on further steps to ensure increased trade and cross-border investment to stimulate growth and job creation.

    China, as the world's second-largest economy, has the capacity to lead in opening up its markets and encouraging others to do the same, he said, while ensuring that the slowdown in China's economy is moderate.

    He said the significance of the Chinese economy globally is emphasized by a forthcoming report by his team, which notes "reliance on Chinese growth has increased vulnerabilities for the global economic and financial system given the mainland's deteriorating demographics, growing debt burden and economic transition".

    Overall, Camkin believes the key source of a new round of prosperity is to be created by the dismantling of trade and investment barriers. More specifically, in emerging markets, reform programs will be a key area for discussion and will of course vary hugely from country to country.

    In developed markets, weak productivity growth is still an issue and this is something that will no doubt come under scrutiny.

    Camkin said the slow down in China's growth after two decades of rapid growth is inevitable, but given China's market size as a major source of demand, its sustained growth will help the world economy to recover.

    One key example is the global commodity markets' reliance on China to lead a recovery over the past year.

    "China's role as a source of final demand is especially important given the continued mixed pattern of demand elsewhere in the world."

    Camkin said the array of actions China has taken to liberalize its financial sector is already really helpful for the world economy, and the effects are already being felt in London.

    Key examples include the opening up of China's stock exchanges to foreign investment by establishing a stock connect between Shanghai and Hong Kong, hence allowing Western investors to access China's stock market through Hong Kong.

    Another example Camkin referred to is the increasing issuance of offshore renminbi bonds in London, allowing Western investors to increasingly access renminbi investment opportunities.

    These initiatives are especially important as the renminbi will be included in the International Monetary Fund's basket of reserve currencies in October, meaning more Western central banks and institutional investors will likely increase their holdings of yuan-denominated assets to benchmark their investment portfolio against the basket.

    As strengthening financial sector governance is a key objective for the G20, Camkin said his team welcomes China's involvement in this area.

    Hot Topics

    Editor's Picks
    ...
    精品成在人线AV无码免费看 | 久久久这里有精品中文字幕| 日韩精品中文字幕无码一区| 最近中文字幕2019高清免费| 久久久久无码国产精品不卡| 亚洲精品无码乱码成人| 亚洲天堂中文资源| 中文字幕在线无码一区| 未满十八18禁止免费无码网站| 亚洲日本va午夜中文字幕久久| 无码专区中文字幕无码| 久久综合精品国产二区无码| 亚洲AV中文无码乱人伦| 日韩高清在线中文字带字幕| 中文字幕在线无码一区| 免费AV一区二区三区无码| 免费无遮挡无码永久视频| 亚洲精品无码mv在线观看网站 | 亚洲AV中文无码乱人伦| 欧美日韩中文在线| 久久精品人妻中文系列| 一区二区三区无码高清| 亚洲AV无码不卡在线观看下载| 国产精品多人p群无码| 无码久久精品国产亚洲Av影片 | 精品无码人妻一区二区免费蜜桃| 精品无码一区二区三区在线| 亚洲七七久久精品中文国产| 日韩精品无码一区二区三区四区| 中文字幕精品一区| 国产成人无码一二三区视频| 免费无码国产欧美久久18| 狠狠躁天天躁中文字幕无码| 免费a级毛片无码a∨免费软件 | 最新国产精品无码| 无码人妻精品中文字幕免费东京热| 亚洲国产中文v高清在线观看| 天堂中文8资源在线8| 少妇无码太爽了在线播放| 亚洲国产精品无码成人片久久| 人妻丰满熟妞av无码区|