Diplomatic Economic Club^{® Since 1997}

In Diplomatic Economic Club hosted a meeting with the Ambassador of of the PRC in Latvia Yang Guoqiang on the modern development of China’s economy

Yang Guoqiang worked for many years in organizations related to the export trade and economic relations. From 1992 to 1996. he worked in the U.S. head of Shanghai Imports LA and Shanghai International Holding Corp. Yang Guoqiang in the homeland until 2010 worked for the municipality of Shanghai, Consul General of China in Chicago USA. In 2013, he was appointed  Extraordinary and Plenipotentiary Ambassador of the PRC to Latvia

In his speech, Mr. Ambassador said that since 1980, China’s economy has been linked to exports and foreign investment. But five years ago, leadership of the country realized that for the further economic recovery needs to develop its own market. China’s GDP in 2013 increased by 7.7%, about the same level as plan to growth and in 2014, the amount of 10 trillion USD of GDP. Thus, China will become the world’s second largest economy after the United States.

Yang Guoqiang said that the U.S. is the largest investor in China. But to compare the economies of these two countries is impossible. Even having reached such high levels, while China will remain a developing economy, lagging in terms of GDP income per capita of developed countries. Inflation in China is within 2%.

Banks
The PRC authorities have approved the creation of a pilot program to banks without state capital. Commission on Banking Regulations of the PRC allowed creating five private banks in Shanghai and Tianjin, and the provinces of Guangdong and Zhejiang.

When asked whether China will lose a competitive advantage in selling goods abroad given the rapid growth of wages, Yang Guoqiang, said that the Chinese are not afraid of this. The average monthly salary in the country of $ 600-700.

Along with the growth of wages and increasing product quality. Median family income increases. «If earlier the Chinese could afford to eat meat once a month, now once a week, or even every day.»

Education
In school children in China going six years old. The school system in China consists of three levels: 5 years primary education, 3 years — junior and   3 years — high school. This basic secondary education, after the exams in mathematics, Chinese and foreign language, graduates can arrive in high school. There are also several levels of specialized secondary and higher vocational education.  

While working in Chicago Yang Guoqiang, there were trained 50,000 Chinese students in technical colleges. There is an agreement on exchange of students with Riga Technical and Baltic International Academy.

Policy
Elegantly and has clearly expressed Mr. Ambassador China’s position on the sensitive issue today about the Crimea. «China’s policy — not to interfere in the affairs of other countries and to cooperate with all based on for mutual interests. I am sure that a thousand years ago the Chinese people was also a wise. We treat with respect to all States, to all the peoples. Chinese people are welcoming and friendly to all. This is our position, — said Yang Guoqiang. — We have a nuclear weapon, but we never first it can not be applied.»

Law
Yang Guoqiang said that most important thing for China to comply with laws.

  Dr. Olga Pavuk   baltic-course.com