Subject: RMB’s Future Position in the World

Speech Subjects:

Zhong Wei	RMB should appreciate notably at once; adjusting the abnormal price.
Executive Vice President of China WTO Academy	The present macro economic situation is normal; it is necessary and long-term that the trade keeps favorable balance.
Zhong Wei	Studying Gold Pool;trying to push RMB globalization in the East Asia.
Wang Jian	The financial liberalization should slow down.
Mei Xinyu	The adjustment of exchange rate should not be finished in one step.
Jia Kang	We should hold the cautious attitude for the financial liberalization; the cost of factors of production should return to the price.
Wang Xiangsui	The internationalization of RMB needs the strategic design.
Wen Tiejun	Position of money is decided by the strength of country; factors resource should be capitalized; the model of giving up land rent and welfare will die.
Li Xiaoxi	The essence of liquidity surplus of China and foreign countries is different; the main point of solving Chinese problems is the system reform.
Mei Xinyu	Solving the liquidity surplus needs to coordinate the national policies.
Sheng Hong	Overtaking strategy results in the liquidity surplus; the key to solving is the market.

Price/earnings ratio is the criterion of judging the stock market.

When we judge the stock market, we use price/earnings ratio. Now the stock price is about three or four US dollars, while the price/earnings ratio reaches 40. In Hong Kong and America, the stock price is 60 US dollars, while the price/earnings ratio is about over ten times, less than twenty times. How do we explain it?
Criterion of CPI.

Today the experts said that the price of resource factors was too low, but it needed a course that resource factors changed from industry to capitals. When the price of pork and grain increased, CPI reached 4.4. If the price of factors, including water and polluted water processing increased, our CPI would be higher than that of the developed countries. What’s the criterion that we judge CPI?