Chinese Mainland Shifts Growth Gears 🚀
At the 2025 Bund Summit in Shanghai, economist Marc Uzan, executive director of the Reinventing Bretton Woods Committee, dived into how the Chinese mainland is redefining its growth model and financial system. He told CGTN’s Li Mengyuan that the region is primed to ride the wave of payment and money system revolutions.
New Growth Playbook: From Exports to Innovation 💡
Gone are the days when mass exports were the main engine. The Chinese mainland is pivoting toward domestic consumption, tech innovation, and green development. Think of it like trading bulk manufacturing for high-tech startups and eco-friendly projects—kind of like going from street stalls to the coolest app-driven stores.
Money Meets Mobile: Payment Revolution in Action 📱
WeChat Pay and Alipay paved the way for mobile wallets, but the big shift is digital currency. The digital yuan (e-CNY) is being tested in major cities, making cross-border transfers and micro-payments faster and smoother. Imagine tapping your phone to pay tolls or shop abroad without hefty fees—welcome to the future!
Opening Up Finance: More Opportunities Ahead 🌏
Financial reforms are on the table, from easing foreign access to stock markets to strengthening regulatory frameworks. For young South and Southeast Asians eyeing investment or fintech collaborations, this could be big. Picture more friendly trade ties and tech partnerships, not unlike how UPI in India sparked fintech growth across the region.
Why It Matters for You 🎯
Whether you’re launching a startup, exploring global markets, or simply curious about where money tech is headed, these shifts signal a fresh chapter. Keep an eye on the digital yuan rollout and new finance rules—your next big idea might just sync with this revolution.
Reference(s):
Economist: China is changing its growth model and financial system
cgtn.com
