Chen Gong
Chief Researcher, Anbound Think Tank
ANBOUND
In the month of October, concerning Renminbi's exchange rate depreciation against the dollar, the market generally focuses on the possibility of Renminbi exchange rate would fall below 7.0, and worries about the acceleration of the outflow of China’s domestic capital. Anbound’s senior researcher Chen Gong believes that stabilizing Renminbi has become China’s primary strategic task, and this is determined by the special conditions of China. However, excessive policy control and action will further trigger capital outflow, contrary to the expectatio
Chen Gong
Chief Researcher, Anbound Think Tank
ANBOUND
The national bonds issued annually by the Chinese Ministry of Finance have reached a considerable size and on the whole, they remain a very popular form of transactions. Most of the bonds are for economic development, while some are for environmental management. In this regard, can the Ministry of Environmental Protection issue bonds? Our research results show that it can and this is known as the green bonds. China is now the largest green bond issuer in the world; under the excessive capital, the policies of guiding the resources flowing to green sectors will not only promote economic transformation, but will also stabilize the fluctuations caused by excess capital.
Chen Gong
Chief Researcher, Anbound Think Tank
ANBOUND
Under the pressure of the overall downturn of China's economy, e-commerce has developed rapidly and Jack Ma has become a representative of e-commerce in China. However, the industry has also brought great negative effects: monopoly status; destruction of commercial real estate; impacting on the social security mechanism; destruction of street system; affecting fiscal taxation; employment pressure; rampant counterfeit goods ; raising logistics costs and challenging financial order.
Chen Gong
Chief Researcher, Anbound Think Tank
ANBOUND
Due to factors like production restriction of the coal industry and 276-day limit on coal mine operations in China, this year the coal price has continued to soar, the national coal mine profit situation improved significantly. In this regard, Anbound's senior researcher Mr. Chen Gong believes that China’s economic growth might be higher than what many have expected. Most people are very pessimistic about this year's economic growth, mainly due to lower economic growth statistics in previous quarters
Chen Gong
Chief Researcher, Anbound Think Tank
ANBOUND
On 1st October, RMB officially joined in the SDR currency of IMF, considering its significance and impact, ANBOUND's Chief Researcher, Chen Gong, provides the following advices: (1). the US played a key role in involving RMB into the SDR; (2). there is no possibility for RMB overturning the position of US dollar; (3). IMF’s reforming of absorbing RMB as SDR currency will actually strengthen America’s international financial power; (4). China has to play its role with more responsibility, but China hasn’t prepared well yet, particularly the supporting macro policies; (
Chen Gong
Chief Researcher, Anbound Think Tank
ANBOUND
A few days ago, the launching ceremony of the Gwadar Free Zone was held at the Gwadar Port City. It was one of the key events at the China-Pakistan Economic Corridor. Based on the findings of his field research, ANBOUND's renowned geostrategic expert, Chen Gong, expressed that from a strategic standpoint, the Gwadar port should be transformed from a production-oriented port city to a consumption-oriented port city in order to accumulate capital, technical, consumer, and economic value.
Chen Gong
Chief Researcher, Anbound Think Tank
ANBOUND
Statistics shows that during the first half of the year, the economic growth rate among the provinces in China have differed significantly, of which the three northeastern provinces have severely stalled the overall economic development in China.
In this regard, the chief researcher at ANBOUND Consulting, Chen Gong suggests that China should stop using a one size fits all approach in its macroeconomic policy.
Instead of targeting high growth rate, first-tier cities like Beijing, Shanghai, Guangdong and Shenzhen should focus their policies on developing consumer society.
Chen Gong
Chief Researcher, Anbound Think Tank
ANBOUND
The effort to cut overcapacity has yet to make any substantial progress and the society in general does not have proper understanding of what it entails. China has continued to intensify its effort in cutting overcapacity.
Chen Gong, chief researcher at ANBOUND Consulting suggests that the cutting of overcapacity has to do with the world's structure.
If China’s official policy were to align with the world, there should be more concerted efforts in building a management based and service-oriented society
Chen Gong
Chief Researcher, Anbound Think Tank
ANBOUND
The government of China has faced setbacks in its reform efforts. China still faces many daunting challenges in building and developing a socialist market economy that is compatible with the institution and system.
Chen Gong, ANBOUND's chief researcher suggests that people are at the core of the government reform and the system determines the people.
China should reform its appraisal system, remuneration system, information disclosure system, accountability system and in order to establish a new generation of highly competent civil servants, China must be bold enough to produce a breakthrough in the civil servant pension system.
Chen Gong
Chief Researcher, Anbound Think Tank
ANBOUND
Since the beginning of this year, President Xi Jinping has repeatedly highlighted supply-side structural reform as the nation's key task.
And judging from the public’s reaction, many government officials and a number of the scholars still do not have clear understanding or complete understanding on this subject matter.
Having considered the current policies and the changes in China’s economy over the past few years, Chen Gong, ANBOUND’s chief researcher has reached the conclusion that China is now on the eve of a critical turning point and the light of down could be se
Chen Gong
Chief Researcher, Anbound Think Tank
ANBOUND
The high-level personnel have in the past complained that the instructions given did not even get out of Zhongnanhai, in fact, even if the instructions managed to go beyond Zhongnanhai, still, there will be many obstacles and problems that need to be overcome in reality.
Having researched this issue for a long time, ANBOUND Consulting has finally came to the conclusion that the problems at the provincial level governments is the major hurdle to the execution of the instructions from the central government.
Chen Gong
Chief Researcher, Anbound Think Tank
ANBOUND
Against the backdrop of the overall weak economic data in China, the volatility of the foreign exchange market in the short interval has again sparked market concern on the economic downturn in China.
In this regard, ANBOUND's chief researcher, Chen Gong has analyzed the mid-long term trend of RMB exchange rate.
In the mid-long term, the USD will fluctuate following the changes in US economy, however, the inflow of international capital will provide support to the USD exchange rate.
Chen Gong
Chief Researcher, Anbound Think Tank
ANBOUND
As the nation faces continuous downward pressure, the slow private investment growth is a big weakness.
In this regard, ANBOUND's chief researcher, Chen Gong analyzed the problem from six perspectives:-
(i)The slowdown in private investment shows that at the macro level, the public investment increases while private investment reduces;
(ii)The structural problem has restricted private investment;
(iii)The problems in implementing the policies;
(iv)The problems in the operations of the banks;
(v)The poor macroeconomic outlook; and
(vi)The underlying problems with private investment.
Chen Gong
Chief Researcher, Anbound Think Tank
ANBOUND
North-eastern China was once the most prosperous region in China, yet now it has become the Rust Belt of China.
Anbound's Senior Researcher Chen Gong pointed out that to revitalize the economy of North-eastern China, three things should be done; firstly the unsuitable businesses should be eliminated, secondly outflow of talents should be encouraged and thirdly the Central Government needs to impose regional tax cut policy on the North-east.
North-east China’s Economy is planned economy, and if these three are executed along with the governmental reform, reducing the size and scale of those depending on the finance, the economy of the Northeast will stand a chance to be revitalized after its recovery
Chen Gong
Chief Researcher, Anbound Think Tank
ANBOUND
Recently, the think-tank team at ANBOUND Consulting hosted an in-house forum to discuss the economic outlook for Beijing city and the major issues plaguing the city.
During the conclusion session, ANBOUND's chief researcher, Chen GONG warns that China’s economy is still under immense downward pressure and this is particularly true for Beijing, which might be on the verge of collapse.
Mr. Chen Gong is of the view that fiscal pressure accounts for the majority of the short-term economic problems faced by Beijing, therefore, Mr
Chen Gong
Chief Researcher, Anbound Think Tank
ANBOUND
In its latest report entitled 'Gearing Up For A New Era of Domestic Capital', Jones Lang LaSalle says that there is significant growth in Chinese real estate investment market, particularly the commercial real estate investment.
ANBOUND’s chief researcher, Chen Gong is of the view that this report shows that the prosperity in commercial real estate is inconsistent with the development direction of e-commerce industry.
Long ago, ANBOUND Consulting warned about this antagonizing relationship and reminded the e-merchants to actively participate in the offline business and to sync with the commercial real estate