On April 8, 2024, held a scientific session at the Institute of Economics of the Ministry of Science and Education with the participation of Chinese scientists. Honorary doctor of the MSE Institute of Economics, former director of the Institute of Economics of the Chinese Academy of Social Sciences, prof. Pei Changhong made a speech on "Current macroeconomic situation of China", Ya Yun, professor of the same institute, made a speech on "Social protection system of China"
The general director of the Institute of Economics of the Ministry of Science and Education, professor Nazim Muzaffarli, opened the event with his speech, and introduced the guests.
Professor Pei Changhong talked about the macroeconomic indicators, current situation and development trends of the Chinese economy. Making comparisons with European countries, India and the United States, the speaker said that in 2023, economic growth in this country was 5.2%. China's economy is the country least affected by the pandemic. The share of the country in the world economy increased from 12.3% to 18% in 10 years. There are 3 trillion dollars in foreign exchange reserves. 5.2% economic growth is expected in the country in 2024. Every year, China's economy grows by an average of 4.7%. There is constantly needed to technological updates for the development of economy under the large and growth conditions of population. Considering this, the government supports the development of the private sector. The public sector also has a leading role.
Professor Ya Yun gave broad information about modern social protection system of China. He talked about issues such as the state's social policy, pension provision, population growth, social insurance system, unemployment, inequality, problems of increasing social welfare, price regulation and its impact on the social situation. He noted the main features and peculiarities of the unique social policy of the Chinese state.
Then the Chinese scientists answered the questions and held interesting discussions (economics.org.az).
