you were one of China's top leaders, what would keep you from
a sound sleep at night?
was the unexpected topic of a roundtable luncheon attended by
two dozen Hong Kong business leaders yesterday when, officially,
it was meant to be a debate on the overheating of the nation's
Chen, president and chair professor of economics at Lingnan University
of Hong Kong, was so optimistic that he felt most people have
been "misreading China." He brushed off the notion of
"soft landing," "hard landing" or "crash
landing" as irrelevant. "The economy is going to cruise
quite nicely," said the keynote speaker.
useless to argue whether the mainland economy is once again growing
too fast, or overheating.
investment in fixed assets grew (our sources in Beijing didn't
cite the specific amount), 53 per cent in the January-February
period compared with the same period last year and hit a peak
since 1994; and when the supply of energy and raw materials are
under their worst strains, hardly anyone can have the confidence
not to say the economy is overheating.
is overheating. There is no question about it. And the central
government has been trying various tactics to cool it down beginning
with the corporate finance regulations for real estate developers
issued by the People's Bank of China last year. But apparently,
just a few attempts at intervention didn't suffice.
Daily CEO Roundtable (CDRT), a Hong Kong-based division
of China Daily Group, provides opportunities for senior
executives from multinational companies to share, learn
and probe issues with speakers in open discussions about
China's economic development and the business challenges
the nation faces.
It is run as an informal meeting where movers and shakers
well-versed in business in China can brainstorm.
top executives from Hong Kong's business community gathered
yesterday for the second CDRT. Discussion centred around
China's overheating economy, and measures being taken at
various levels to cool it down. It was agreed that present
measures are sensible and working but need to be taking
will now be taken on the road to other cities such as Beijing,
Shanghai and Guangzhou, so participants can access local
government officials,companies and the executives of multinationals
in an interactive setting.