On the afternoon of 21 October 2021, the Faculty of Finance of the City University of Macau (CityU Macau) held the Finance Seminar Series [6], themed “New Journey, New Challenges, and New Opportunities —China’s Economy in the Post-Pandemic Era”, at the Ho Yin Convention Centre. Mr Qiu Xiaohua, Director of the Institute of Economic Research of CityU Macau, was invited as a guest speaker to share his insights with the doctoral students of CityU Macau. The seminar was attended by Dean Cheung Wai Kong and Associate Dean Khong Yueng Wah of the Faculty of Finance of CityU Macau. The seminar was held online to comply with anti-epidemic measures.

Director Qiu pointed out that China’s economic development has entered a new journey in the ever-changing world, encountering new challenges and opportunities. The new journey is characterised by new development changes. Under the influence of transformation and upgrading, the COVID-19 pandemic, and changes in US-China relations, the policy, philosophy, and patterns of economic development have changed accordingly. China’s economy is recovering from the pandemic, but energy shortages, upstream price increases, and tight controls over the real estate industry may make it difficult to restore investment and consumption while exacerbating the situation for downstream sectors. Moreover, policy change in leading economies has also brought uncertainty to international trade and investment.

Director Qiu further noted that China is facing financial, technological, consumption, and global political crises in the post-pandemic era. To cope with these crises on the new journey, China should prevent risks, strengthen foundations, expand markets, and ensure security. As factors of production are a principal element of change and motive force of development, rural reform, urban reform, opening to the outside world, housing reform, and human capital all play an important role in the economic recovery from the COVID-19 pandemic.

Director Qiu also remarked that the economy is faced with multiple challenges in the post-pandemic era, while spatial adjustment and industrial upgrading strategies will bring new impetus to economic development. Spatial adjustment and industrial upgrading indicate three key investment themes: scientific and technological innovation, green development, and “big consumption”.

In the Q&A session, Director Qiu patiently answered each student’s questions in detail, making it clear that it is particularly important to treat global changes in a dispassionate and rational way, face up to challenges in changing times, and seize new opportunities to achieve new development in the post-pandemic era.

 Recording: https://cityuedumo-my.sharepoint.com/:v:/g/personal/jadetan_cityu_mo/EWOzYpq8ColJj4kIXSnBunkBYfmhUVWmJyalHllaNfaGuQ?e=9Bu33v