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  • Zhong Wei (钟伟)
    Born : January , 1969Gender : Male
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Occupation

Director of the Financial Research Center of Beijing Normal University

Education

1990, Bachelor of Science degree, Department of Physics, Nanjing University

1994, Master of Engineering, School of Economics and Management, Southeast University

1999, Ph.D. in Economics from Beijing Normal University

2000, Postdoctoral Fellow in Management Science and Engineering, Tongji University

Experience

Researcher at the International Financial Research Center of the Chinese Academy of Social Sciences, Researcher at the Research Institute for the Reform of the Chinese Economic System, and chief economist at Changsha Bank. Special observer for China Financial News, CCTV


Contribution

Zhong has hosted or participated in more than 10 scientific research projects at or above the provincial or ministerial level, including national social science planning projects.

He published more than 200 academic papers in dozens of authoritative newspapers, including Economic Research, Financial Research, Marxist Research, and People's Daily.

He has published more than 300 economic reviews and essays in dozens of journals such as Lianhe Zaobao, among which many articles have had a great social response and triggered discussions.

AcademicPrizes

The Young Economist of the Year Award in the 2011“China Financial Value Ranking”

Notable Works|Publications

Outline of Globalization of Financial Capital (2000 edition)

International Transmission and Background of Inflation (1999 edition)

Research on the New World Economic Structure in the Early 21st Century (2001 edition)

Main Opnions

Zhong Wei was concerned about the long-term impact of population structure on China's economy. He believed that aging will lead to the decline of China. "From the first stage of rapid economic growth we talked about, entering the second stage is called the transformation and innovation period. " he said, "By 2025, the economy may enter the mature growth period, during which growth rate will be about 3% every year, and then the economy will slowly maintain this level. "

Zhong Wei attached great importance to the problem of population structure caused by urban-rural dual structure. He believed that the household registration system on the one hand made the countryside empty and backward, on the other hand, it discriminated against the peasants who came to the city, which reduced their willingness to have children.

Zhong Wei agreed to be more open to foreign immigrants to ease the aging crisis.

According to Zhong Wei, saving was a virtue. The saving habits of Chinese people can help to cope with the aging problem. He criticized the idea of stimulating consumption. "Don't attribute the reason why the current economic growth is not so good to the fact that the Chinese like saving and thrift." he said, "Thrift is a virtue, not a sin."

Zhong Wei warned that inflation stole Chinese savings. In the 1980s, people didn't expect that one million yuan would be needed for providing for the aged, but now people think that one million yuan is very normal for providing for the aged, and 10 million yuan may not be enough for providing for the aged in the future, which is the bad result of inflation.

Zhong Wei said that house price was a monetary phenomenon. In order to protect their wealth in inflation, people had to choose to invest in real estate, which was the most important reason for the rise of house prices.

Controversy

The local government issued bonds to build security houses was a poison to quench thirst. Because of this kind of borrowing, we turned a blind eye to the difficulties of local finance. The financial problems of local governments have been kicked to the market. Finally, this burden has been kicked from the market to the banking or financial system, and has become a huge non-performing asset or debt burden. Then the ball will eventually kick back to the central government.

 

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