From January 18–21, the Macroeconomic Research Department of the Development Research Center (DRC) of China’s State Council, with the support of KPMG and other leading global partners, held its first M3 global series event in Beijing.
Bringing together “3” major stakeholders (government, corporate and academia), the M3 program provides a unique platform for key global economic regions including China, Europe, Japan and the US to hold sustained, recurring dialogue on “M”acroeconomic issues concerning future global economic growth and stability.
To align with the goals set out by General Secretary Xi Jinping in his statement, “China needs to learn more about the world, and the world also needs to know more about China,” M3 seeks to improve the mutual understanding between China and the world’s major economies, and to facilitate China’s continued stable growth and balanced integration into the global economy.
With distinguished speakers such as Wu Jinglian, renowned economist and Honorary Director of the DRC’s Market Research Department, the M3 event in Beijing provided a closed-door setting for focused discussions on common concerns about the future of the global economy.
Peter Fung, Global Chair of KPMG’s Global China Practice, said: “M3 shares a common goal with KPMG, as it brings together entrepreneurs, members of governments and academics around the world to probe into issues such as China’s economic growth objectives, fostering growth through restructuring of domestic industry and service sectors, as well as the challenges and opportunities faced by the global economy, and together, come up with constructive suggestions.”
“One of the aims of M3 is to provide opportunity for international dialogue and exchange that can enhance China’s policy coordination with the macroeconomic policies of other major economies, a goal set out in the Report of the 18th National Congress of the Communist Party of China,” explained KPMG’s Global Head of M3 David Frey. “M3 also captures the vision of General Secretary Xi Jinping very well.”
Other organizations participating in M3 include Oxford University in the UK, the Johns Hopkins University’s School of Advanced International Studies (SAIS) in the US, Japan’s Keio University and the Cheung Kong Graduate School of Business in China.
As part of the first M3 event in Beijing, the DRC released a report entitled New Era, New Balance and New Driving Forces: 2013 China Macroeconomic Outlook, which provides an in-depth analysis of China’s economy and expectations for 2013 as it enters a new economic phase characterized by a slower growth model.
The ongoing global M3 series will include quarterly meetings to be held on a rotational basis in China, the US, Europe and Japan. Participating parties will also collaborate on a series of joint publications.
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