On August 12, the Opinion “2026 Boao Series of Activities” officially opened. Fan Gang, vice president of the China Economic System Reform Research Association and director of the National Economic Research Institute, said in his speech that China has bid farewell to the comparative advantage of cheap labor, but has successfully transformed it into the ability to innovate through latecomer advantages, forming a new driving force for growth. Although the current growth rate is slowing down, China has new growth points, and new technologies and industries are growing. At the same time, attention should be paid to making good use of urbanization policies, so that the migrant working population can truly integrate into the city and unleash the potential for demand. Overall, China's economy is in a period of transition between old and new kinetic energy. It has a foundation for sustainable development, and confidence should be maintained.

On August 12, the Opinion “2026 Boao Series of Activities” officially opened. Fan Gang, vice president of the China Economic System Reform Research Association and director of the National Economic Research Institute, said in his speech that China has bid farewell to the comparative advantage of cheap labor, but has successfully transformed it into the ability to innovate through latecomer advantages, forming a new driving force for growth. Although the current growth rate is slowing down, China has new growth points, and new technologies and industries are growing. At the same time, attention should be paid to making good use of urbanization policies, so that the migrant working population can truly integrate into the city and unleash the potential for demand. Overall, China's economy is in a period of transition between old and new kinetic energy. It has a foundation for sustainable development, and confidence should be maintained.