Yao Jingyuan: There must be a sense of hardship in changing the mode of economic growth

Yao Jingyuan, chief economist of the National Bureau of Statistics, said that with the slowdown in the world economy and changes in the global demand structure, there must be a sense of urgency in changing the way the economy grows. Liang Dongmei, chief economist of National Bureau of Statistics, Yao Jingyuan November 5 at the Caixin summit that China's economy is facing strategic opportunities,　　There must be a sense of urgency in promoting economic growth. Yao Jingyuan said that from the world economic point of view, the global economic growth slowdown, around the market, talent and resources of the increasingly fierce competition.　　In the face of global warming, energy and resource security, and the rise of trade protectionism, China, as a "world factory", needs to be aware of the transition. He also said that from the domestic development point of view, China also faces the imbalance between investment and demand. Long-term investment and export-driven economy, itself is facing the risk of "ups and downs". The increase in the proportion of investment is bound to lead to a decline in consumption.　　In addition, from the perspective of factor input, China's economic growth depends more on material capital investment, which leads to high pollution and higher energy consumption. Yao Jingyuan also pointed out that inflation caused by rising food prices and difficulties in youth employment, but also the economic structure of the domestic imbalance.