Wu Xiaoqiu: China Has the Capability to Maintain a Fundamentally Sound Long-term Outlook

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Shanghai Securities News · China Securities Journal (Reporter Dou Shiping) — Wu Xiaoqiu, Director of the National Financial Research Institute at Renmin University of China, and Columbia University Professor Jeffrey Sachs discussed China’s development and future international currency issues on March 21 at Renmin University’s Chongyang Regional Country Forum during the “Global Experts” event. This marks their second dialogue since 2019. Both agree that China has the capacity to maintain a long-term positive fundamental trend, and the next decade will usher in another period of development for China.

On-site at the forum, Photo by Reporter Dou Shiping

Wu Xiaoqiu, from a Chinese perspective, outlined the development vision and strategic confidence heading toward 2035. He believes that despite a complex and severe external environment, China’s large-scale market, complete industrial system, and ongoing technological innovation enable it to sustain long-term positive fundamentals.

He stated that over the past decade, China has achieved significant breakthroughs in manufacturing. Of the 35 “choke point” technologies identified, 32 have seen fundamental improvements by 2025, with domestic production rates reaching 70%. While China still trails in some areas, in many fields it has shifted from catching up to running parallel, and even leading.

“China will enter another development phase in the next ten years,” Sachs said. China, with meticulous forward-looking thinking, continues to achieve major development milestones, which will benefit the entire world.

Regarding future international currency issues, Sachs believes that the world will not only be multipolar but also multi-currency. “In the next decade, about a quarter of international trade may be settled in RMB. This trend is natural, reasonable, and feasible.”

This event was held at Renmin University of China, organized by the Chongyang Financial Research Institute and the Global Leadership School of Renmin University, and hosted by the Center for Sino-American Cultural Exchange Studies at Renmin University. It is the sixth session of the “Global Experts” series within the Renmin Chongyang Regional Country Forum, aiming to promote dialogue and understanding among countries, fields, and disciplines, build multilateral cooperation bridges, and advance pragmatic collaboration.

Source: Shanghai Securities Journal · China Securities Journal Published on: 2026-03-22