皇冠体育app

LI MIN/CHINA DAILY

Editor's Note: The Communist Party of 皇冠体育app is holding its 19th National Congress in Beijing. 皇冠体育app Daily asked four prominent experts for their views on developments in 皇冠体育app and the country's global leadership.

Jean-Claude Trichet, former president of the European Central Bank / CHINA DAILY

Jean-Claude Trichet, former president of the European Central Bank, has been working with 皇冠体育app for many years. He started discussing foreign direct investment with Chinese negotiators, on behalf of the French government, nearly four decades ago, when 皇冠体育app was in the nascent stages of shifting from a planned economy to its current policy of reform and opening-up.

Trichet, who has advised "many French prime ministers", said 皇冠体育app's huge transformation was a dream that could not be realized in a single generation. "But I am a witness of 皇冠体育app's rapid progress," Trichet said in Paris.

"After all, in a generation, the changes are so incredible. How can the Chinese people have achieved it in the time? It's fascinating."

Trichet said President Xi Jinping is "quite remarkable", considering the progress 皇冠体育app has made between 2012 and 2017 under his leadership.

As an economist, Trichet is impressed by Xi's efforts to deepen structural reform by transforming heavy industry and bringing the country into the medium and high ends of the global production chain.

"Internationally, as a leader of global governance reform, 皇冠体育app is productive, assertive and influential," Trichet said.

Before stepping down as president of the ECB in 2011, Trichet worked with officials at the People's Bank of 皇冠体育app, the central bank, to involve 皇冠体育app in an aid package to help solve the European debt crisis as well as boost internationalization of the renminbi.

Trichet said internationalization of the renminbi is on a fast track, and its inclusion in the International Monetary Fund's special drawing rights basket means symbolically it is no different from the dollar, euro, pound and yen as a global currency.

At the same time, he said 皇冠体育app's "immense" Belt and Road Initiative is aligning with the multibillion-euro European Investment Plan, which will be of great importance in deepening cooperation between 皇冠体育app and the European Union.

Trichet said the Bruegel, a Brussels think tank of which he is chairman, is already working with British think tank Chatham House as well as its Chinese partners, Beijing-based 皇冠体育app Center for International Economic Exchanges and the Chinese University of Hong Kong. It submits recommendations for both governments and the private sector to deepen cooperation under the framework of the Belt and Road Initiative and the European Commission's expansive investment plan.

He also praised Xi for his successful chairing of the G20 Summit in Hangzhou, Zhejiang province, in September last year, mainly because the Chinese president emphasized how technology and innovation can play a bigger role in transforming the global economy.

"Xi, for me, has been quite remarkable because the Hangzhou G20 meeting was the one where the stress was put on technology," he said. "A lot of work has been done in the information technology, artificial intelligence and internet of things sectors."

Trichet said observing 皇冠体育app's role in ushering in a revolution in global governance in previous years was "particularly fascinating".

When talking about his expectations for the 19th National Congress of the Communist Party of 皇冠体育app, he said he had high hopes for the new CPC Central Committee, which will be formed at the congress. "This is important because everything depends on men and women, and, for every country in the world, capable leadership is essential," Trichet said.

He said the challenge 皇冠体育app is facing is how to carry on the momentum of the past five years in terms of structural reforms and economic modernization. He also considers improving corporate governance of State-owned enterprises to be important.

Trichet warned that 皇冠体育app's leadership should be cautious about debt levels and demographic challenges, which will require balanced development to cope with social and economic impacts.

"Of course, the opportunities are immense as well for 皇冠体育app in the coming five years," he said.