Zhu Guangyao: The International Economic Situation Is Uncertain And Should Be Handled With Caution.

On the 4 day, Zhu Guangyao, Vice Minister of the National Committee of the Chinese people's Political Consultative Conference and vice minister of finance, said that 2015 may be

The most complex year of the global economic situation since the outbreak is also the most challenging year. We must have a full estimation of its complexity and challenges, including the differentiation of monetary policies in developed countries, the fall in oil prices and the complexity of geopolitics.

China is already the second largest economy. We must pay close attention to the changes in the external situation and the possible impact on China.

Turning to the possibility of raising interest rates by the Federal Reserve, Zhu Guangyao believes that the market's expectation of US interest rate hikes has been basically digested.

The market basically expects the fed to raise interest rates is imperative, and the stronger US dollar is combined with interest rate expectations.

In the Fed's meeting report, there used to be a phrase "to be patient for a long time" and recently changed to "patience". If the March Federal Reserve meeting's report removed "patience", the market generally expected that the first rate hike in the US would begin in June.

about

Monetary policy, Zhu Guangyao pointed out, the keynote has been clear, to let positive fiscal policy reflect the enthusiasm, let stable monetary policy to deal with complex environment, there are pre fine-tuning.

Faced with the impact of this external economic uncertainty, the best way is to stabilize China's economic development strategy, deepen economic reform, and deal with external uncertainties.

The positive fiscal policy is manifested in two aspects. One is structural tax reduction. At present, the tax reduction for small and micro enterprises has made significant progress, and the two is universal cleaning charges.

Zhu Guangyao also pointed out that at present, the complicated economic situation has made it difficult for China to deal with structural problems. We must promote economic restructuring and gradually digest the problems accumulated in the past large-scale economic stimulus plans, including local debt problems.

We should conscientiously implement the new budget law, which will be implemented in January 1st. In the process of closing the "back door" and "opening the front door", we must proceed cautiously and strictly in accordance with the policy to deal with the smoothness of the pition period. The ultimate goal is to solve the problem, but it can not cause regional and systemic financial risks.

Zhu Guangyao also pointed out that the Asian infrastructure investment bank and the Silk Road bank are closely related to the "one belt and one way".

The arrangements put forward by the summit leaders from the BRICs development perspective have now made significant and decisive progress. Asian investment bank and BRICs bank are to be completed and put into operation this year.

At present, the examination and approval of the Congress or government in many countries are speeding up the process. This year, the completion and operation of the Congress will be completed.

The Asian investment bank needs to deal with the relationship with the existing international financial institutions, such as the world bank and the Asian Development Bank, which are complementary rather than substitute for each other. All parties will benefit in the process of cooperation, and the discourse power of the emerging countries should be reflected in the process of cooperation.