Consul General TONG Xiaoling Attends The Second Canada-China Business Dialogue

On August 15, Consul General TONG Xiaoling attended the Second Canada-China Business Dialogue with the theme of “Challenge, Collaboration and Continuity”, co-hosted by the School of Economics (SOE), Fudan University and Asia Pacific Foundation of Canada. Nearly 200 government, business, thinktank and media representives from Canada were in attendance.

In her speech, Consul General TONG highlighted that China's GDP expanded 6.3% year on year in the first half of 2019. As China is applying a new vision of development, focusing on promoting structural adjustment, transformation and upgrading, rather than deliberately pursuing growth, this rate, though lower than before, is of high quality and reflects the enormous resilience, potential and room for maneuver of the China’s economy.

TONG pointed out that, the recent weakening of the RMB beyond 7 yuan per U.S. Dollar brought a lot of attentions. This exchange rate adjustment is a normal policy change. As long as the long-term fundamentals of the China’s economy do not change, the equilibrium value of the RMB exchange rate will not change. A more flexible exchange rate will give greater freedom to domestic macro-economic policies and open up space for domestic monetary policy. The United States’ listing China as a so-called "currency manipulator" is inconsistent with its own definition for "currency manipulators" and poses risks to the US economy and the world economy.

TONG said that China’s development will not pose a threat to anyone or any country. China will continue to unswervingly follow its own development path and make due contributions to building a community with a shared future for mankind. It is hoped that the public, especially the media, should be able to watch China's development objectively and make fair comments and reports.

TONG highly appreciated the positive roles that the Fudan University Alumni Association of Vancouver has been playing as a non-governmental organization in promoting bilateral relations betweent China and Canada.

Prof. ZHANG Jun, Dean of the SOE at Fudan University and Senator Yuen Pau Woo of Canada delivered a keynote speech respectively on the China Economic Outlook and Canada’s China Policy. A group of panellists also shared their views on the development of China-Canada relations.

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