On September 21, “Guo Shi Forum 2017” was successfully held by the Counselors’ Office of the State Council. Prof. Cheng Hong, the Dean of the Institute of Quality Development Strategy was invited to attend the forum and delivered a speech entitled “Miracle of China’s Quality and Economic Growth".
Prof. Cheng Hong pointed out in his speech that China has embarked on a quality development path with its own characteristics. Although there are still many challenges facing quality development, the quality reform and innovation has been effective. Efforts can be made to improve and then support China’s economic transformation and upgrading. First, he analyzed theoretically that macroeconomic growth must be based on the quality of micro-products and services. Statistics including the export scale, product value, product variety and intermediate products showed that progress was made vertically and competitive advantages comparing to those of developed countries were obtained as well. He pointed out that the current unawareness of China's quality miracle was due to the fact that we used to define the quality of Chinese products simply by an incomprehensive quality definition and evaluation system, to the extent that consumer demands were ignored. Moreover, he put forward that we need to be guided by quality innovation to meet the multi-level and diversified quality requirements in the process of quality development path with Chinese characteristics. We should take comparative advantage of labor cost and adopt the method of upgrading the quality ladder. We need to make entrepreneurs the leading force to promote the quality in accordance with new requirements in the era of intelligence.
Prof. Lin Yifu, Honorary Dean of National School of Development at Peking University and Director of Center for New Structural Economics commented on the speech made by Prof. Cheng Hong that he gave a very good new theoretical explanation to the quality of China's economic growth. As the saying goes, great minds think alike. He agreed with what he said for many things during the forum.