Wang Wen, Executive Dean of Chingyang Institute for Financial Studies at Renmin University of China, talked about T20`s contribution to G20 and excess capacity at the studio interview of CCTV on Sep.5th.
“President Xi thanked T20 in his speech, which made me proud for RDCY was one of think tanks that hosted the T20 meeting,” Wang said during the interview. “Chinese leaders showed their confidence and China provided lots of wisdom and methods to the G20 countries.”
Wang emphasized that Nowadays the excess capacity is a huge problem for China’s domestic economy. “Lots of factories that used to be in China have moved to other emerging economies. This is a new condition, but China has ability to deal with the problem. On the B20 opening ceremony, President Xi promised that in the next few years China will solve lots of problems about excess capacity. We can wait and see.” he added.