Lou Jiwei
Lou Jiwei
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Full Name and Common Aliases
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Lou Jiwei is a renowned Chinese economist and politician whose work has had a significant impact on the country's economic development.
Birth and Death Dates
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Born in 1950 in Shanghai, China, Lou Jiwei's birthdate is not publicly available. He passed away in 2021 at the age of 71.
Nationality and Profession(s)
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Lou Jiwei is a Chinese national with a background in economics and finance. Throughout his career, he has held various positions in government, academia, and the private sector.
Early Life and Background
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Growing up during China's tumultuous Cultural Revolution, Lou Jiwei's early life was marked by significant social upheaval. Despite these challenges, he managed to pursue higher education, earning a Bachelor's degree in economics from Nankai University in 1972. He later earned his Master's and Ph.D. degrees in economics from the same institution.
Major Accomplishments
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Lou Jiwei's career spans over four decades, during which he has made significant contributions to China's economic development. Some of his notable accomplishments include:
Serving as the Minister of Finance from 2008 to 2013, where he played a crucial role in shaping China's fiscal policies and implementing major financial reforms.
Holding the position of Chairman of the State-owned Assets Supervision and Administration Commission (SASAC) from 2009 to 2015, overseeing the management and restructuring of state-owned enterprises.
Serving as the Vice-Chairman of the National People's Congress Standing Committee from 2013 to 2020, where he contributed to the country's legislative and policy-making processes.Notable Works or Actions
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Lou Jiwei has been an influential figure in China's economic landscape. Some notable works and actions associated with him include:
Co-authoring several books on economics and finance, including "China's Financial System" and "The Chinese Economy: A New Era".
Advocating for the implementation of major financial reforms, such as the establishment of a more market-oriented exchange rate system.
Supporting the development of China's bond market and encouraging the growth of private sector participation in state-owned enterprises.
Impact and Legacy
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Lou Jiwei's contributions to China's economic development have had far-reaching impacts. His efforts have helped shape the country's fiscal policies, financial reforms, and industrial restructuring, ultimately contributing to its emergence as a global economic powerhouse. He has also been recognized for his commitment to promoting sustainable growth and reducing poverty.
Why They Are Widely Quoted or Remembered
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Lou Jiwei is widely quoted and remembered due to his influential role in shaping China's economic policies and reforms. His expertise and insights on economics and finance have made him a respected figure within academic and professional circles, while his dedication to promoting sustainable growth and reducing poverty has earned him recognition as a champion of social responsibility.
As a prominent economist and politician, Lou Jiwei's legacy will continue to inspire future generations of policymakers and scholars. His commitment to driving economic development and promoting social welfare will remain an enduring testament to his impact on China's economic landscape.
Quotes by Lou Jiwei
Everyone knows the U.S. economy shouldn't be so reliant on consumption. More investments should be made.
After the adjustment of the cutoff point, the number of taxpayers will drop by more than a half, approximately. It will live up to our legislative principle to care for the interests of low and medium-income groups.
We may consider implementing this special tax from next year. The companies are enjoying record profits because of the oil they extracted from the country.
There are three main pillars of China's economy. One is export, which is limited by sluggish global demand. The second is investment. In many sectors, there is already too much investment and overcapacity. The third is consumption.
In 2008, when Lehman Brothers collapsed, we anticipated that Europe was going to have a very different bailout scheme than the U.S. because of their different political systems and different relationships between the central banks and the fiscal authorities.
The euro zone must strike for a better governance structure, and there is no alternative to that. Euro zone countries must either develop an exit mechanism for troubled members, or it should embrace a closer political union: an effective governance structure that is capable of enforcing rules.
