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Yuelu Management Forum of Hunan University: FAN Gang’s Speech on Economy Closed the Session Perfectly
PublishDate: 2014-08-26 22:41:36   Author:site editor   Origin: original site  Browse number:

In the afternoon of June 29th,  Yuelu Management Forum — Hall of Scholars” hosted by Business School of Hunan University was officially held at the B111 Auditorium of the Business School. Mr. FAN Gang, a well Known economist, researcher of Chinese Academy of Social Sciences, Chinese Academy of Social Sciences, and economic professor of Peking University was invited to speak at this particular forum session. He presented a remarkable speech on “The Recent Fluctuation and Long Term Development of China Economy”. Over 400 audiences from executives of Medium Size Enterprises of Hunan Province, MBA, EDP, EMBA alumnus and some students of Business School of Hunan University have participated this event. The event was hosted by the Vice Dean of Business School, Professor YANG Zhi.

1. Famous Economist FAN Gang


2. No Empty Seats at the Hall



3.  Audiences taking note seriously



4. Students actively asked questions

 

For long time, Professor FAN Gang has been studying on the macro-economy. He analyzed the in depth reasons of recent fluctuation of China economy from macro-economy perspectives. Prof. FAN Gang believes that in order to clearly understand the current China economy situation, it is necessary to review the development of China economy in the past 10 years; the problems and challenges that China economy are facing now, only can be fully understood by studying the history. There was a major issue that China economy was over booming twice within 10 years. The first time was during year 2005 - 2007, it was the explosive of energy from the previous 10 years of China economy; however, it was merely not led by the government. Another economy over booming was caused by governmental policies. Currently, China economy is facing the problems of over production capacity, bad debts in the banking sector, domestic debts and etc, and it was caused by the twice of economy over booms.  Over booming could trigger crisis, while the definition of crisis was over productions. Nevertheless, some of the policies that China government engaged, no major economy crisis may outburst due to over productions and other problems. The left-over problems caused by the over booming of economy needs to adjust through “soft landing” in order to dissolve the over productions and over production capacity. “A small bubble leads to minor adjustment, while soft landing is also a type of landing”. Professor FAN Gang believes some companies may need to accept the fact of being withdraw; some may need to accept the fact of being demolished. “In the next few years, China economy will have the growth of 7%-8%, and will be very difficult to get back to double digits, maybe this is the normal region.” Professor FAN Gang basically remains optimistic toward the China economy.

The forum lasted 3 hours, and audiences took note seriously. The phrases of “economy”, “government”, “macro policy control” were all over the note. Students and guests gained a lot. The last session was the Q&A session, which students were very active. The host selected 4 students to have on-site communication with Professor FAN Gang. One of the students asked question on how to better re-structure the state owned and private owned enterprises. Professor Fan answered the question with patient: “To completely solve this issue will take a very long process. Currently there are three things can be done: 1. Private enterprises control the stakes, state owned enterprise tag along; 2. Clear assets ownership; 3. Focusing on local government supports to private sector.” After the session, many interested students surrounded Professor Fan for more assistances.

“Yuelu Management Forum - Hall of Famous Scholars” is the high quality and classy academic brand’s program which the Business School of Hunan University is the main organizer, and co-organized by MBA Education Center of Hunan University, EDP Training Center of Hunan University, EMBA Education Center of Hunan University. The Hall uses the innovative management concepts and most current domestic and international events as the lead, and to follow the major trend of China economy, to invite professional scholars to host talk sessions and being testified by outstanding corporate management personnel at a hall. This provided a dialog opportunity and communication platform for business elites, government officers, economists and investors. There were off-scene stories of hot economic topics, and various background analysis on economic scenarios. There were also experiences of legendary enterprenuer. We will invite domestic and international professional scholars to participate based on different period of academic and social hot topics. We serve enterprenuers, mangers, also students and alumni of business and government sectors. “Yuelu Management Forum - The Hall of Famour Scholars” will become the high end exchange platform of Hunan University culture mangament.  

 

Article By: SHI Danbin

MBA Program Center