CIC Held the 10th International Advisory Council Meeting28-08-2018
CIC held its 10th International Advisory Council (IAC) Meeting (10th IAC meeting) in Beijing, China on August 27-28. During the 10th IAC meeting, Chinese Vice Premier Liu He, also a member of the Political Bureau of the Communist Party of China Central Committee, met with the attending members.
During the meeting, Vice Premier Liu expressed confidence in the Chinese economy. He said China's per capita GDP is approaching 10,000 U.S. dollars, a large domestic market is taking shape, and the prospects of the Chinese economy are very bright. No matter how the international environment changes, China will firmly promote reform and opening up, unwaveringly safeguard economic globalization and the multilateral trade system, and stand firm on the building of a community with a shared future for humanity, Vice Premier Liu said. IAC members said unilateralism and trade protectionism are the largest uncertainties facing the world economy and may lead to catastrophic outcomes. They suggested that China should further its reform and opening up, and play a more important role in the multilateral trade system.
Mr. Tu Guangshao, Vice Chairman and President of CIC, chaired the 10th IAC meeting and delivered the opening and closing remarks. President Tu presented CIC's latest investment activities, management and operations in the past year, pointed out the major challenges that CIC faces in development, and elaborated on CIC's corporate strategy in the future. IAC members and CIC attendees had in-depth and proactive discussions on topics including: Macroeconomic Landscapes, Investment Risk Management, Sector Opportunities and ESG Investments, and Outlook for CIC's Next Decade. IAC members also put forward constructive suggestions for CIC's development. In addition, the members had open and direct discussions with relevant CIC teams over asset allocation, risk management, foreign direct investment, innovative investment cooperation model, and etc.
During the 10th IAC meeting, the fifth term of IAC was officially established. In 2018, the fourth term of IAC fulfilled its mission. CIC Executive Committee applauded IAC members for their valuable advice to CIC. CIC also acknowledged the extraordinary contribution of Mr Zeng Peiyan, Mr Qian Yingyi, Mr Joseph Yam, and Mr Jorge Paulo Lemann who no longer serve on the fifth term of IAC. In particular, CIC extended its sincere gratitude to Mr Zeng Peiyan, a founding member of IAC, who provided wise counsel to CIC and offered his view on the status quo and outlook of China's economic development and reform at each IAC meeting. Mr Zhou Xiaochuan, Vice Chairman of the Boao Forum for Asia; Former Vice Chairman of The National Committee of the Chinese People's Political Consultative Conference; Former Governor of the People's Bank of China, was invited to serve on the fifth term of IAC.
CIC Executive Committee members, department heads and delegates from Central Huijin's domestic holding companies attended the meeting.