Tsinghua University Latin America Center and LIDE China successfully held a webinar on China’s economic prospect under the energetic support of Chinese Embassy in Brazil on March 15.

Liu Lingling, professor of School of Economics and Management, Tsinghua University, Wang Huimin, deputy director of Credit Research Institute of Chinese Academy of International Trade and Economic Cooperation, Ministry of Commerce of China, and Chen Ji,executive director and analyst of energy sector atChina International Capital Corporation were invited. They shared and exchanged views on the future of China’s economic development, the 14th Five-Year Plan, the current situation and trend of China’s e-commerce, and China’s macro and industrial trends under new constraints. Chen Taotao, director of Tsinghua University Latin America Center, and Everton Monezzi, president of LIDE China, attended the meeting and delivered opening speeches.

Chen Taotao delivers an opening speech

Chen said in her speech that the past 10 years have witnessed the fastest and best development of China-Latin America relations. At present, China is Brazil’s largest trading partner, and Chinese enterprises have invested more than $3 billion in Brazil. However, institutional, cultural and economic differences between the investor and the investment destinations have caused obstacles hindering international investment. In this regard, Chen believed that there is still a lot of space for cooperation between China and Brazil, and further mutual understanding is needed to increase the trust and confidence between the two countries, so as to increase more cooperation opportunities. It is why the exchange event is held, said Chen.

Everton Monezzi delivers an opening speech

In his speech, Monezzi said that although China and Brazil are geographically far apart, the ties between the two countries are getting increasingly close. He hoped that the event can help people better understand the prospect of China’s economic development, and encourage more joint efforts to explore the cooperation opportunities between China and Brazil, deepen practical cooperation and achieve mutual benefit and win-win results.

Liu Lingling delivers a speech

Liu delivered a keynote speech and introduced the development of China’s economy development, the 14th Five-Year Plan and new measures to maintain steady economic growth in China. She said that it is very important for China to maintain economic growth in the next 15 years. On one hand, the government needs to balance short-term and long-term goals and implement proactive, flexible and sustainable macro policies. On the other hand, China is supposed to vigorously develop new economy, such as new infrastructure, new urbanization, new energy, new medical treatment, new agriculture and new consumption, so as to constantly promote the new development pattern with domestic and international double circulation promoting each other. She stressed that China and South America enjoy close economic and trade exchanges and huge cooperation space in energy, crops and marine biology. With the Belt and Road expanding to South America, all parties will surely achieve mutual benefit and win-win results.

Wang Huimin delivers a speech

Wang introduced China’s e-commerce demonstration system, rural e-commerce, cross-border e-commerce, international cooperation and regulations of e-commerce, and elaborated on e-commerce’s development trend in China. She said China’s cross-border e-commerce has become a new driving force for the steady growth of foreign trade with deepening international cooperation in e-commerce. At present, China has signed cooperation memorandums of Silk Road E-commerce and established bilateral cooperation mechanisms with many countries including Brazil. E-commerce will see a new development with the in-depth application of new-generation information technology, the development of China’s digital economy, the transformation and upgrading of traditional industries and consumer demand, and the continuous promotion of trade facilitation, Wang said.

Chen Ji delivers a speech

Chen Ji introduced the economic impact of carbon reduction actions. He said that carbon peaking and carbon neutrality goals would indeed impose constraints on China’s economy in the short term, but they have showed China’s great efforts to combat global climate change. To achieve the goals, China has actively promoted the adjustment of its energy structure, continuously improved technological innovation, increased the development and consumption of renewable energy, and promoted policies to strengthen green finance. Referring to the impact of the carbon reduction goals on the long-term trade between China and Brazil, Chen Ji believes that a very high proportion of China’s iron ore imports are from Brazil. Under the constraints of the carbon neutrality target, China’s iron and steel industry may see a continuous decline in iron ore demand in the long term. But he also pointed out that under the framework of the Paris Agreement, the future cooperation between China and Brazil in the international carbon trading market will be promising.

Group photo of the webinar

The webinar was hosted by Ricardo Luz, CEO of LIDE China, and representatives from Chinese consulate generals in Sao Paulo, Rio de Janeiro and Recife also attended.