Macro economy and policy forecast in and abroad
——Wang Wei’an, Director of Finance Institute of Zhejiang University,

Wang Wei’an, Director of Finance Institute of Zhejiang University, delivers his report of Macro economy and policy forecast in and abroad 
 
In this report, Professor Wang explained the domestic and international macroeconomic situation and policy direction. First, it briefly introduces the international macro situation: the world economic growth is again downward; the manufacturing purchasing managers index (PMI) is the lowest in recent years; the global monetary policy is restarted. Loose tide; the world fell into the era of negative interest rates. 

Then he introduced the domestic economic situation. The growth rate of the main indicators of domestic economic growth mostly declined. From the perspective of economic fundamentals: 1. China has developed into an economic power and is heading for an economic power; 2. China's economy is mainly facing structural problems, while the economy is governed. The structural problem can no longer rely on the traditional fiscal and monetary policy, and the macroeconomic policy gradually shifts to the supply-side structural reform as the main line. The key lies in promoting the high-quality development of the economy. 3. At present, China is facing systemic financial risks. 

Under the control of macroeconomic policies, China’s deleveraging and anti-risk initial results have been achieved, and the real estate market has begun to cool down. However, the outbreak of Sino-US trade war has worsened China’s reforming economy. China is currently in a ship when the wandering is more urgent, and when people are halfway up the mountain, the economic restructuring will take time. In the short to medium term, it is necessary to prevent black swan and prevent gray rhinoceros.