On November 5th, the academic forum “The Reform of the Global Value Chain and the Innovative Development of Industrial Economy (Tertiary Industry) in China” was held online. Scholars majoring in International Trade, Global Economic Theory, and Practice Areas gathered online and made deep communications, providing advice for China’s innovative development in the industrial economy under the circumstance of the global value chain reformation.
The forum was hosted by the School of Economics and Management of Southeast University and organized by the Institute of International Economics of Southeast University, the Economic Globalization Research Center of Jiangsu Province, and the Department of International Economy and Trade of Southeast University. Zhang Xinke, Secretary and Executive Vice Chairman of the Leading Party Members’ Group of the Federation of Philosophy and Social Sciences Circles of Jiangsu Province, Tan Yong, Deputy Director of the Nanjing Municipal Bureau of Commerce, Xing Jihong, Deputy Secretary of the Party Committee of Southeast University, Wang Lusheng, President of the Big Data and Artificial Intelligence Law Research Association of Jiangsu Law Society, and Yuan Jianhong, Secretary of the Party Committee of the School of Economics and Management of Southeast University, delivered speech at the opening ceremony of the forum, while Qiu Bin, Distinguished Professor of Southeast University and Director of the Institute of International Economics of Southeast University, presided over the opening ceremony.
The report of the 20th National Congress of the Communist Party of China pointed out that by "implementing the new developmental concept, focusing on promoting high-quality development, pushing ahead the construction of a new developmental pattern, carrying out supply-side structural reforms, and formulating a series of regionally significant strategic plans with overall importance, China's economic strength has achieved a historical leap."
The participating scholars believed that holding the theme of high-quality development, China's industrial base advancement and the industrial chain modernization were accelerating. A new generation of information technology had been rapidly broken through and widely applied, while the service industry was showing obvious trends of improved quality and efficiency. At the same time, international economic and political uncertainty risks continued to rise in recent years, with the overlap of momentous changes and pandemics. After the outbreak of COVID-19, Sino-US trade friction had become normalized and the trend of global value chain reform had become increasingly obvious, China's high-quality development of an open economy faced many new opportunities and challenges.
In order to accelerate the implementation of the innovation-driven development strategy, China still needs to enhance the long-term driving force of economic development. The innovative development of the tertiary industry can better guarantee the sustainable and stable production process of other industries, and it can also promote technological progress, industrial upgrading, and efficiency improvement in multiple industries, thereby promoting the deep integration of the innovation chain and the industrial chain. Therefore, the innovative development of the tertiary industry plays an important role in achievinghigh-quality economic development.
During the keynote speech and three parallel sub-forums, experts and scholars from multiple universities and research institutes, such as the Chinese Academy of Social Sciences, Tsinghua University, Renmin University of China, Beijing Normal University, China Agricultural University, University of International Business and Economics, Fudan University, Shanghai University of Finance and Economics, Zhejiang University, Nankai University, Sun Yat-sen University, Wuhan University, Zhongnan University of Economics and Law, Xiamen University, Nanjing University, Southeast University, Nanjing Normal University, Nanjing Agricultural University, and Nanjing University of Finance and Economics, carried out extensive discussions on topics related to international economic cooperation, global industrial chain reformation, geopolitics and international trade, construction of new development patterns, opening up of the tertiary industry and the development of China's service trade, economic structural transformation, high-quality development, and the construction of the Belt and Road.
During the keynote speech, experts and scholars, starting from national security, discussed in detail and comprehensively the economic development and security issues under the background of global value chain reformation from the perspectives of international economic cooperation, value chain reformation, geopolitics and international trade, and regulatory consistency, proposing countermeasures and suggestions to ensure our security while deeply participating in global economic integration. In addition, experts and scholars also discussed important theoretical issues about China's economic development——such as the relationship between market and enterprise, innovation of foreign trade business models, and institutional openness of the service industry-based on the reality of China's economic structural transformation and holding the practical needs of building a new development pattern and responding to the Belt and Road. By combining empirical research with the theme of tertiary industry development, experts made full use of their professional knowledge and provided ideas for China's innovative development of the tertiary industry.
In the three parallel sub-forums, participating scholars actively interacted and exchanged ideas, combining their research fields with specific real problems. They discussed the diverse effects of each nation’s policies in the international economic field and believed that the worldwide dispersion of value chains provided new possibilities for further cooperation among economies. Promoting high-level opening-up will create new space for China's participation in the global value chain.
The successful holding of this forum provided scholars with ampler space for communication and also brought more inspiration for global value chain reformation and innovative development of China's industrial economy.
(Source: CSSN)
Translated by: Li Zhaoting
Reviewed by: Wang Xuanyu
