FCCC Roundtable Conference back to events

Date: 01/04/2009 - 01/04/2009
Where: KBC Bank, Brussels
Type: FCCC events
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On 1 April 2009, the Flanders-China Chamber of Commerce, in cooperation with KBC Bank, organized a roundtable conference on business perspectives in China in 2009 and key challenges.

Ms Laura Tsui, Partner at InterChina Consulting, indicated that 2008 was a year of extreme contrast. First, the government took several measures to stabilise the economy, such as interest rate increases, bank reserve increases, currency appreciation, stricter control in approval of large public investment projects, and tighter credit control. These measures showed some very good results but also had some unexpected consequences, such a slow down in the auto industry and real estate sector. Consequently, the global financial crisis erupted, causing a dramatic decline in exports and affecting severely both industrial and consumer confidence. The year 2009 is now expected to bring further growth but with some down side risks such as a further decline of exports and slow growth of private consumption. 

The Chinese government will invest CNY4 trillion in a stimulus package to revive the economy over the next two years (2009-2010). The stimulus package mainly focuses on pillar sectors and those more heavily hit in exports: automotive, steel, textile & machinery, shipbuilding, petrochemical, light industry, electronics & information, nonferrous metals and logistics. Furthermore, the government will also invest CNY850 billion on healthcare reform over the next three years (2009-2011).

The roundtable conference took place at KBC Bank is Brussels and was attended by 35 participants.