At 3:00 p.m, on December 7, Prof. Yuyue HU, the Director of Securities and Futures Research Institute of Beijing Technology and Business University & Doctoral Supervisor gave a lecture titled “Essence of the ‘New Normal’--- Viewing Strategic Transformation of Chinese Economy from Perspective of President Xi’s Normal”. Huadong LI, the Deputy Party Secretary of Business School presided over this lecture, and about 10 teachers and more than 70 students attended this lecture.

At the beginning of the lecture, by showing pictures, Prof. HU introduced some outstanding representatives in the modern online consumption age, and used some data to illustrate the development of the Internet economy and traditional economy, and consequently led to the New Normal of Chinese economy in this Internet Economical Age. Subsequently, Prof. HU carefully elaborated the subject of this lecture from two aspects. On the one hand, Prof. Hu used a large amount of data and facts to explain that our macro economy was facing downside risks. He stated this year was a inflection point of real estate market, but he didn’t expect a crisis in real estate market, because the situation of the real estate market had the direct bearing on the GDP growth in our country, and high house price volatility might also lead to vicious inflation, bank failure, trust industry extinction, the bankruptcy of local government, etc. On the other hand, start with the concept of “New Normal”, and the current economic development of our country, Prof. Hu stated three “New Normal” and characteristics of current economic development in our country. Meanwhile, according to president Xi’s views about the chance and challenge confronted the new normal to Chinese economy, Prof. Hu thought, China should seize opportunities to transform economy with the dominance of the new four modernizations, and build it into a real economic power.

During two hours’ lecture, Prof. Hu Yuyue analyzed the current domestic and international economic situation, from which students learned a lot. Prof. Hu’s wise words and humor expression won him a lot of applauses. Finally, this lecture was successfully concluded with the closing remarks of Li Huadong, the Deputy Party Secretary.