On April 7, the “China's Financial Policies and Practice” lecture series, a new series opened for Tsinghua PBCSF master’s students, welcomed its second speaker, Vice President of Huaxia Bank Jinlao Huang.

In the lecture, he illustrated the following main points: the costs have been constantly increasing, especially the core costs of labor, real estate, raw materials, energy, taxation, logistics, environmental protection and finance; the era of rapid growth is over with a slowdown in export and import growth and investment growth while consumption growth is leveling off; China is facing a tough task in upgrading its industries and still relies heavily on imports for many key resources and techniques, as a result, efforts need to be made to develop strategically-important industries; promising signs of growth emerge in industries such as energy, railway, internet, and financial services; an excessive economic slowdown could be avoided through reducing costs, safeguarding the value of guarantee and collateral security, strengthening RMB appreciation expectation and promoting privatization and industrial upgrading; as for the domestic financial system, there is still a lot of room for improvement despite the impact of excess liquidity and other factors; and a strong banking sector, as the cornerstone of the financial sector, can provide support for cost cuts and industrial upgrading.