On December 3 and December 4, Prof. Zhang Zheng of Industrial Economics Department and Associate Professor Qin Xuezheng, were invited to visit the Kyoto University Graduate School of Economics, and made speeches over China’s economic restructuring and reform of the land system at the “China Economic Seminar”.
The "China Economic Seminar" is an annual academic event for discussing China`s economic development issues sponsored by Kyoto University, and the theme for 2016 is “Sustainable Development of China’s Economy”.
Associate Professor Qin Xuezheng gave a lecture on the transformation of China`s economy under the new normal state. He analyzed the characteristics, challenges and countermeasures of China`s economy under the new normal state. Qin believes that the main reasons for the slowdown in China`s economy after 2010 include the long-standing imbalance in economic structure, regional imbalances, inadequate investment in social infrastructure, increased population and environmental burdens, and systemic financial risks. The supply-side reforms and a series of supporting policies introduced by the Chinese government in recent years have helped to fundamentally solve these problems. Among them, the government-led industrial upgrading, regional and urban agglomeration and interconnection, population and labor market reform, foreign trade and investment restructuring measures has achieved initial results. Further systematic reform will promote the Chinese economy completed the transformation of the growth mode successfully in the new normal development stage.
Professor Zhang Zheng`s speech elaborated the characteristics and problems of rural land circulation in China. He shows the trend of the circulation of Chinese agricultural land in recent years. The main way of circulation is "subcontracting" and "renting", and the total amount is still at a low level, which reflects the characteristics of "small peasant economy". At the same time, the distribution characteristics of agricultural land and the way of land use are very different. The process of circulation often raises many social problems caused by conflicts of interests. Professor Zhang believes that the low rate of agricultural land hindered the development of rural areas and the process of urbanization in China. Therefore, how to solve the problem of low agricultural land flow rate from the system and organization should be the focus of the rural development policy at this stage.
After the speech, Prof. Zhang Zheng and Assoc. Prof. Qin Xuezheng exchanged views with the audience and answered the questions about the Chinese real estate bubble, population aging, basic R & D investment and international trade division of labor.