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The School Dean Songmin attended 2019 Yabuli China Entrepreneurs Forum

2019-04-01
    The 19th Annual Conference of Yabuli China Entrepreneurs Forum 2019 held in Yabuli, Hei longjiang Province on February 16th, 2019. The theme of this year's three-day conference is " Facing up to challenges with firmness and confidence--The new trajectory of China’s reform and opening-up ". The School Dean Songmin was invited to attend and deliver a speech in the 2019 Yabuli Macroeconomic Forum and Education Forum.
    Dean Songmin declared in the Macroeconomic Forum based on the topic of “how monetary policy works in 2019” on February 17th that monetary policy is the total amount policy. It is impossible to find any theory to support the idea that monetary policy can solve the structural and long-term problems in the economy and promote economic growth. From his prospective, as Chinese monetary policy has carried much burden, the problem cannot be solved through the monetary policy. What government should do is to continue the reform and opening up policy.
    He believes that due to the dual structural of state-owned enterprise and private enterprise in Chinese economic, easy monetary policy must result in a consequence that state-owned enterprises and local governments earn more than private enterprises. In addition, when monetary tightening policy announces, private enterprises will be influenced first.
    “If government depends on monetary policy too much, many problems will occur”, he said. So he insists that deleveraging process should be carried forward in the market, rather than the intervention from government or monetary policy. Additionally, he asserts that relatively positive fiscal policy which can stimulate the economy is feasible, in the case of low debt burden of central government and local government. In this way, enterprise cost goes down and enterprise incentive of investments increases by the improvement of central government leverage. “Fiscal policy can be more positive, and we can maintain monetary policy adequate liquidity, but keep it in mind that don’t rely too much on fiscal policy.”
    On February 18th, he stated the importance of curiosity in the Education Forum based on the topic of “being a creative leader”. He believes that the creative mind has rich content, and what matters most is being curious and imaginative. It is too late to cultivate those abilities in the universities, since cultivating the abilities is kindergartener’s duty. Therefore, education institution should be responsible for the process that children will maintain their curiosity and imagination. What’s more, he considers that having critical thinking and learning capacity are the key factors to foster creative mind.
    The reform and opening up policy is overwhelmingly moving. EMS will keep focusing on the target of building "Double First-rate" strategy. Based on the requirement of “Chinese characteristics, world-class”, Chinese economy practice and world trend of development, our school will foster high quality students and make a contribution to the education business.( Author: Wu Xiaofang /Edited by HeKe)