WHAT THEY SAY

Chen Zhiwu, former professor of finance at Yale University, in a recent interview with NetEase News, saying that Chinese parents interfere in their children’s marriages so much that their attitudes toward love have become increasingly utilitarian

Chinese State Councilor and Foreign Minister Wang Yi delivering a video speech at the symposium “Kissinger and China-US Relations” held on May 31 as quoted by the Xinhua News Agency

Lu Ming, professor at Shanghai Jiao Tong University, on differentiated development for urbanization that focuses on county development, a new policy issued by the central government in May

Yi Gang, president of the People’s Bank of China during the 2022 Green Swan Conference from May 31 to June 1, saying that the key to promoting the green transition while keeping stable prices is the carbon price

Huang Qifan, chair professor at Chongqing University and former mayor of Chongqing, at the latest Tsinghua PBCSF Chief Economist Forum held in Beijing on May 14　

“Influenced by over two years of Covid and pandemic restrictions, many ordinary families, especially medium and low-income ones, have had to deplete their savings. That is why consumption in both counties and cities plunged.” 　

Renowned economist Lin Yifu suggesting the government grant each family in lockdown affected areas 1,000 yuan (US$150) in stimulus funds at an economic forum held by the National School of Development, Peking University on May 18 　

“Enterprises face greater operational difficulties and have little demand for investment and financing. Even though they have money, they are not willing to invest. Even though loan rates are low, they are not willing to borrow. The same goes for people. No matter whether they have money, they have no desire to buy a car or an apartment. We see negative growth in home mortgages, consumption and business loans. Among them, personal mortgage loans have experienced China’s second ‘net repayment’ in history, which is a very clear signal of people’s overall deleveraging.” 　

Wang Jun, member of China Chief Economist Forum, appealing for government-led stimulus of consumption in an article for financial magazine Caijing in late May 　

“GDP growth can not replace such anxiety [about children’s education] which is spreading throughout society. No matter how fast our GDP per capita grows, it cannot dispel such anxiety... If we do not address the problem, Chinese families and their children will lead a very low-quality life which also cannot be compensated by GDP per capita growth.” 　

Yao Yang, professor at the National School of Development, Peking University (PKU), opposing the placement of Chinese students into vocational schools, which are stigmatized as a last resort for poor performance students, through the national high school entrance exam, at a recent forum on education at PKU on May 13 　

“The first and foremost task for both countries is to run their own affairs well and become better selves... This is just like a golf player who only wants to improve his own game, not beat other players.” 　

Qin Gang, Chinese Ambassador to the US, delivering a speech about Sino-US relationship at the Asia Society Texas Center on June 3