Last night (February 26), the 19th lecture of Peking University Dishui Lake Lecture (PKU-DSLLH) was successfully held. Huang Yiping, Boya Chair Professor and Dean of the National School of Development at Peking University, was invited to deliver a special lecture titled Cyclical and Structural Strategies for Navigating Current Economic Challenges at the Lingang Performing Arts Center.

At the lecture, Prof. Huang began by dissecting the challenges confronting China's economy—including growth deceleration pressure, deflationary risks, and sluggish consumption—noting these stem from the compounded effects of cyclical fluctuations, structural adjustments, and trend-driven slowdowns. He analyzed the strong correlation between macroeconomic volatility and cycles in the infrastructure and real estate sectors, highlighting that China's current opportunity lies in disruptive innovative technologies. Prof. Huang contended that the broader "digital economy" is reshaping China's growth paradigm by circumventing diminishing marginal returns on capital. Overall, he maintained a "cautiously optimistic" stance toward China's present economic trajectory.

Prof. Huang emphasized that addressing the current economic challenges requires a tri-dimensional framework encompassing 'aggregate, structural, and institutional' perspectives. In the macro policy dimension, the coordination of fiscal and monetary policies should be appropriately strengthened to balance counter-cyclical and inter-temporal adjustments; in the industrial policy dimension, accelerating the replacement of old and new industries, mitigating systemic risks, seizing the window of technological revolution, and promoting the development of new quality productive forces are imperative; in the reform policy dimension, market confidence should be bolstered, resource allocation efficiency enhanced, the market's decisive role in resource allocation solidified, and long-term growth potential unleashed through systematic reforms.

During the interactive Q&A session, Prof. Huang addressed inquiries on "AI and humanoid robots' impact on China's economy" and "how governments balance market mechanisms with industrial guidance," integrating macroeconomic theory with industry case studies. He noted that "the economic multiplier effects of emerging technologies require long-term data validation," while citing expert projections that "AI may deliver significant multiplier effects to future economic growth." Regarding government roles, Prof. Huang emphasized—using China's EV industry as a case study—that "proactive governments should focus on fundamental innovation in market-failure domains, avoid low-level redundant investments, and explore optimal synergy between effective markets and proactive governments."

Wu Xiaohua, Deputy Secretary of the Party Working Committee of Lin-gang Special Area, attended the event and presented the commemorative lecture plaque. Over 600 participants participated on-site in this event.

Before the lecture, Prof. Huang conducted an on-site inspection of PKU-IICSH, visited the Party-Mass Service Center and PWA Instrumentation & Service Center for Biomedicine, and offered his kind guidance to the center's development.

Initiated with the support of the China (Shanghai) Pilot Free Trade Zone Lin-gang Speacial Area Administration (hereinafter referred to as Lin-gang Special Area, or LSAA), Peking University Dishui Lake Lecture Hall (PKU-DSLLH) is a collaborative effort involving Peking University International Sci-Tech Innovation Center at Lin-gang Special Area, China (Shanghai) Pilot Free Trade Zone (PKU-IICSH), Peking University Office of Science and Technology Development, and Office of Humanities and Social Science, and enjoying an active participation from Peking University Press, Peking University Alumni Association, and other relevant offices and departments. Leveraging Peking University's profound academic foundation and expert resources in the humanities and social sciences, PKU-DSLLH focuses on key areas including economic development, humanities and arts, and social governance.

Since August 2023, PKU-DSLLH has been hosting monthly lectures featuring renowned professors or expert scholars from Peking University, who provide specialized lectures and engage in in-depth discussions with residents in Lin-gang. This initiative aims to facilitate the concentration of high-quality humanities and social science resources from Peking University in Lingang, effectively enhancing the cultural image and urban competitiveness of the Lin-gang Special Area.