He: China needs to turn huge savings into productive investment

September 15 Afternoon News The second China-US economist Summer Palace dialogue will be held. He, a senior researcher at the Brookings Institution, said China could take two steps to develop the economy in the face of Sino-US trade issues.　　The financial system needs to be reformed to turn huge savings into effective investment in productive capacity. He pointed out that the tension between the Sino-US trade is high and there is an imbalance.　　And China can take two steps to make the economy develop better. He said the first is that China's financial system needs to be reformed and its huge savings should be transformed into an effective investment in productive capacity.　　He pointed out that such a financial intermediary tool should be properly introduced into China to support the development of small and medium-sized enterprises, because they can bring more benign competition in the market, but also to provide employment opportunities for the workforce. Second, the Government should consider how to increase imports to improve the efficiency of China's economy, especially China to reconsider government procurement policy. In this way, cheaper products can be imported into China and used in government procurement projects. He said that, for example, it could use part of the huge foreign exchange reserves to import the High-tech and educational resources needed. (Super Yan from Beijing)