Russian media: fast and rational, China's financial development experience is worth learning.

2018-04-03

    The Russian newspaper, published in March 28th by Yakov Mirkin, director of the international capital market department of the Russian Academy of science and international relations, "the rising path of the renminbi to the ruble", says China is really envied now. It is developing fast and not only becoming a technical leader in automobiles, information and communications, and so on. Field star, is also a pioneer in international financial market.

     According to the article, in 2001, the money supply in China was converted to us dollar, which was only 1/4 of that in the US and 133% in 2016. China's catching up with the US in the financial field is faster than the real economy. And all this is achieved under the background of low inflation rate.

     What about Russia? The article said that in 2016, the actual GDP of Russia was equivalent to 7% of that of the United States. In those days, the amount of generalized currency issued in Russia was only equivalent to 5% of that in the US.

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     The article claims that Russia's financial gap in achieving economic growth and investment is up to tens of billions of dollars. But Russia's financial sector might be an anachronism, since half a step.

     According to the article, in 2000, the debt level of China's state, enterprises and residents was only 8% of that of the United States, and it was close to 60% in 2016. Russia is trying to catch up with the United States and China in the financial sector. However, Russian loans are really negligible, equivalent to 2.6% in the United States and 4.4% in China.

     The article says that which country's economic growth will be faster and faster, it will be stronger. So it's RMB instead of rouble, which has been incorporated into the currency basket of the special drawing rights (SDR) by the IMF.

     The article says that China's finance is developing rapidly. It is weighed repeatedly, clear headed and controllable, which will only benefit itself. The same is true of Japan and South Korea.

     The article claims that if Russia wants to become an important global financial soft power country, it needs further efforts. First of all, we should invest in ourselves, take loan incentives, and try our best to attract foreign long-term investments. The development of the domestic financial market, rather than for him to do the wedding dress in china. On this road, the most important thing is to remember stubbornness, persistence and reason. It is in that spirit that China has achieved its achievements in the financial field.

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