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Switzerland-Davos Forum/OECD
Davos, Switzerland - Jan 23, 2018
1. Banner reading (English) "Annual Meeting 2018", attendees entering meeting room
2. SOUNDBITE (English) Angel Gurria, secretary-general, Organization for Economic Co-operation and Development (OECD) (partially overlaid with shots 3-4):
"It was good to have in the change of model, from export and investment to more domestic consumption and to more services. This was a natural result that you would perhaps deceleration of growth. So you really are having an adjustment, also an adjustment on the financial side. The regulators are controlling the growth of the credit now. I feel quite comfortable that this recovery is sustainable at around those levels."
FILE: China - Date Unknown
++SHOTS OVERLAYING SOUNDBITE++
3. Various of robot arms in operation
4. Various of workers working at factory
++SHOTS OVERLAYING SOUNDBITE++
5. Various of commercial housing
Davos, Switzerland - Jan 23, 2018
6. SOUNDBITE (English) Angel Gurria, secretary-general, Organization for Economic Co-operation and Development (OECD) (partially overlaid with shots 7-9):
"It's very refreshing to see that the authorities were calling this and saying my provinces, my cities, etc, have to provide real numbers, because it is a question of credibility. It is very important. Professional development of statistical competencies of the professional services. But also, a political will to be transparent and simply saying what is really going on."
FILE: China - Date Unknown
++SHOTS OVERLAYING SOUNDBITE++
7. Robot arms in operation
8. Roller washing machines being produced
9. Robot arms in operation
10. Various of automobiles being manufactured, workers working
++SHOTS OVERLAYING SOUNDBITE++
11. Various of Yuan notes going through counter
Davos, Switzerland - Jan 23, 2018
12. Attendees at tea break
13. World Economic Forum poster
14. SOUNDBITE (English) Angel Gurria, secretary-general, Organization for Economic Co-operation and Development (OECD):
"I will expect China to continue to support multi-lateralism, like President Xi announced last year, here in Davos, I expect Liu He, to continue to strengthen that message now that he is representing China this year."
15. People attending World Economic Forum
16. "World Economic Forum" seen on pillar
17. SOUNDBITE (English) Angel Gurria, secretary-general, Organization for Economic Co-operation and Development (OECD) (partially overlaid with shot 17):
"Structural change at the time when we, the OECD, we're measuring, and we are saying to the world, structural change seems to be slowing down. Just at the time when we need to accelerate the structural change, so we're going to be focusing on this part of the equation, continue with structural change. Don't be complacent."
++SHOT OVERLAYING SOUNDBITE++
18. People attending World Economic Forum
++SHOT OVERLAYING SOUNDBITE++
19. "World Economic Forum" seen on wall
China's economic restructuring and transparencies in data reporting as well as a shift in its development model were praised by the secretary-general of the Organization for Economic Co-operation and Development (OECD) on Tuesday during the ongoing Davos Forum.
Angel Gurria made the remarks in an exclusive interview with the China Central Television (CCTV) in response to the Chinese economy, which beat expectation in 2017, with a GDP growth of 6.9 percent.
"It was good to have in the change of model, from export and investment to more domestic consumption and to more services. This was a natural result that you would perhaps deceleration of growth. So you really are having an adjustment, also an adjustment on the financial side. The regulators are controlling the growth of the credit now. I feel quite comfortable that this recovery is sustainable at around those levels," he said.
Gurria praised Chinese government's efforts for stressing the importance of real economic statistics as three provinces were forced to correct their data after they had overstated their economic performances.
He said the action by the Chinese government shows China's resolution to get rid of "data fraud" and for better transparencies.
"It's very refreshing to see that the authorities were calling this and saying my provinces, my cities, etc, have to provide real numbers, because it is a question of credibility. It is very important. Professional development of statistical competencies of the professional services. But also, a political will to be transparent and simply saying what is really going on," the OECD chief said.
Gurria also mentioned that he expects China to play a bigger role in multi-lateralism, and make greater contribution to the vision of "Creating a Shared Future in a Fractured World". This year's Davos Forum's theme in some way echoes Chinese President Xi Jinping quote of "building of a community with a shared future for mankind" in his keynote speech last year.
"I will expect China to continue to support multi-lateralism, like President Xi announced last year, here in Davos, I expect Liu He (Liu He is a member of the Political Bureau of the Communist Party of China Central Committee and director of the General Office of the Central Leading Group for Financial and Economic Affairs) to continue to strengthen that message now that he is representing China this year," he added.
When it comes to global economic growth, Gurria believes that even if monetary policy and fiscal policy can stimulate economic growth, countries should still consider structural changes, as ways to promote economic growth.
"Structural change at the time when we, the OECD, we're measuring, and we are saying to the world, structural change seems to be slowing down. Just at the time when we need to accelerate the structural change, so we're going to be focusing on this part of the equation, continue with structural change. Don't be complacent," he said.
The 48th World Economic Forum (WEF) annual meeting will be held in Davos, Switzerland from Jan 23 to 26.
Switzerland-Davos Forum/OECD
Dateline : Jan 23, 2018/File
Location : Davos,Switzerland
Duration : 2'55
Davos, Switzerland - Jan 23, 2018
1. Banner reading (English) "Annual Meeting 2018", attendees entering meeting room
2. SOUNDBITE (English) Angel Gurria, secretary-general, Organization for Economic Co-operation and Development (OECD) (partially overlaid with shots 3-4):
"It was good to have in the change of model, from export and investment to more domestic consumption and to more services. This was a natural result that you would perhaps deceleration of growth. So you really are having an adjustment, also an adjustment on the financial side. The regulators are controlling the growth of the credit now. I feel quite comfortable that this recovery is sustainable at around those levels."
FILE: China - Date Unknown
++SHOTS OVERLAYING SOUNDBITE++
3. Various of robot arms in operation
4. Various of workers working at factory
++SHOTS OVERLAYING SOUNDBITE++
5. Various of commercial housing
Davos, Switzerland - Jan 23, 2018
6. SOUNDBITE (English) Angel Gurria, secretary-general, Organization for Economic Co-operation and Development (OECD) (partially overlaid with shots 7-9):
"It's very refreshing to see that the authorities were calling this and saying my provinces, my cities, etc, have to provide real numbers, because it is a question of credibility. It is very important. Professional development of statistical competencies of the professional services. But also, a political will to be transparent and simply saying what is really going on."
FILE: China - Date Unknown
++SHOTS OVERLAYING SOUNDBITE++
7. Robot arms in operation
8. Roller washing machines being produced
9. Robot arms in operation
10. Various of automobiles being manufactured, workers working
++SHOTS OVERLAYING SOUNDBITE++
11. Various of Yuan notes going through counter
Davos, Switzerland - Jan 23, 2018
12. Attendees at tea break
13. World Economic Forum poster
14. SOUNDBITE (English) Angel Gurria, secretary-general, Organization for Economic Co-operation and Development (OECD):
"I will expect China to continue to support multi-lateralism, like President Xi announced last year, here in Davos, I expect Liu He, to continue to strengthen that message now that he is representing China this year."
15. People attending World Economic Forum
16. "World Economic Forum" seen on pillar
17. SOUNDBITE (English) Angel Gurria, secretary-general, Organization for Economic Co-operation and Development (OECD) (partially overlaid with shot 17):
"Structural change at the time when we, the OECD, we're measuring, and we are saying to the world, structural change seems to be slowing down. Just at the time when we need to accelerate the structural change, so we're going to be focusing on this part of the equation, continue with structural change. Don't be complacent."
++SHOT OVERLAYING SOUNDBITE++
18. People attending World Economic Forum
++SHOT OVERLAYING SOUNDBITE++
19. "World Economic Forum" seen on wall
China's economic restructuring and transparencies in data reporting as well as a shift in its development model were praised by the secretary-general of the Organization for Economic Co-operation and Development (OECD) on Tuesday during the ongoing Davos Forum.
Angel Gurria made the remarks in an exclusive interview with the China Central Television (CCTV) in response to the Chinese economy, which beat expectation in 2017, with a GDP growth of 6.9 percent.
"It was good to have in the change of model, from export and investment to more domestic consumption and to more services. This was a natural result that you would perhaps deceleration of growth. So you really are having an adjustment, also an adjustment on the financial side. The regulators are controlling the growth of the credit now. I feel quite comfortable that this recovery is sustainable at around those levels," he said.
Gurria praised Chinese government's efforts for stressing the importance of real economic statistics as three provinces were forced to correct their data after they had overstated their economic performances.
He said the action by the Chinese government shows China's resolution to get rid of "data fraud" and for better transparencies.
"It's very refreshing to see that the authorities were calling this and saying my provinces, my cities, etc, have to provide real numbers, because it is a question of credibility. It is very important. Professional development of statistical competencies of the professional services. But also, a political will to be transparent and simply saying what is really going on," the OECD chief said.
Gurria also mentioned that he expects China to play a bigger role in multi-lateralism, and make greater contribution to the vision of "Creating a Shared Future in a Fractured World". This year's Davos Forum's theme in some way echoes Chinese President Xi Jinping quote of "building of a community with a shared future for mankind" in his keynote speech last year.
"I will expect China to continue to support multi-lateralism, like President Xi announced last year, here in Davos, I expect Liu He (Liu He is a member of the Political Bureau of the Communist Party of China Central Committee and director of the General Office of the Central Leading Group for Financial and Economic Affairs) to continue to strengthen that message now that he is representing China this year," he added.
When it comes to global economic growth, Gurria believes that even if monetary policy and fiscal policy can stimulate economic growth, countries should still consider structural changes, as ways to promote economic growth.
"Structural change at the time when we, the OECD, we're measuring, and we are saying to the world, structural change seems to be slowing down. Just at the time when we need to accelerate the structural change, so we're going to be focusing on this part of the equation, continue with structural change. Don't be complacent," he said.
The 48th World Economic Forum (WEF) annual meeting will be held in Davos, Switzerland from Jan 23 to 26.
ID : 8071768
Published : 2018-01-24 14:25
Last Modified : 2019-03-19 06:06:00
Source : China Central Television (CCTV)
Restrictions : No access Chinese mainland
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