2016年CRI CPC shares experience on innovation of global governance

The just released Chongqing Initiative has underscored that political parties should encourage structural 1 reforms for economies with innovative 2 ideas on development and governance.

Serving as the largest trading country, which GDP accounts for roughly 14% of the world GDP, China has provided lots of successful experience in economic transformation 3 as an example to the world.

Fang 4 Xinghai, vice 5 chairman of the China Securities Regulatory Commission, pointed 6 out the "Belt and Road" initiative is the country's new take on the existing global economic governance system.

"The Belt and Road initiative is not aiming at replacing the current economic system. But shows the responsibility of China as the largest developing country and world's second largest economy. China has the obligation of sharing its experience and strength in helping 7 more developing countries to thrive, and to create more macro demands".

Besides, Zhang Weiwei, the Dean of the China Academy of Fudan University, said China can also offer innovative experience to the world in terms of combating corruption 8.

"I've just learned there's a new mechanism 9 to fight corruption in China. It's called one-button approach. You know, now we all have mobile phones, and smart phonesw. Now you have one button, that button can send information directly to the central inspection 10 commission fighting corruption."

Under the new normal, advancing economic innovation by virtue 11 of open economic upgrading has become an important development feature in China.

Highly acclaimed 12 as China's Top Ten Innovative Pioneers, Robin 13 Li, founder 14 and CEO of Baidu, believed the breakthrough in artificial intelligence can change the world.

He suggested enterprises can learn from the CPC's governance, and pour more capital into research and development.

"In the past 40 years, China has eyed high-speed economic growth, owing to the CPC's particular management philosophy. As an enterprise based in China, Baidu can draw on the successful governing method. For example, now our development and research accounts for over 15% of total income, taking the first spot among other Chinese enterprises listed on the World Top 500".

Meanwhile, Liu Qiangdong, founder and CEO of JD.com, highlighted the development of artificial intelligence can lower trade barriers and reduce trade frictions 15.

"My company is now building a testing platform in Beijing, which is set to be launched before the end of next year. With this platform, the whole business process is based on artificial intelligence without any human resources. This means we'll use cutting-edge technology to guide the manufacturing, development and branding of products. And this technology could serve to driver-less automobiles 16, robot-operated factories, warehouses 17, and service robots."

Liu further indicated the upgrading of AI technology may reshape the world order in terms of trade, service and finance in the near future.