On October 13, the CICC Global Institute (CGI) convened its 2026 Q4 Macro Forum in Bangkok, Thailand, marking the first time the institute's quarterly gathering was held in Southeast Asia. The event, themed "China's Economy amid Global Rebalancing: New Paradigms and New Industries," was announced via Media OutReach Newswire and brought together experts from the International Monetary Fund, ASEAN+3 Macroeconomic Research Office, Shanghai Advanced Institute of Finance, National University of Singapore, and other institutions. Its timing during the week of the IMF and World Bank Annual Meetings underscores a deliberate effort to inject Chinese perspectives into global economic discussions at a moment when those discussions are increasingly focused on rebalancing and new growth drivers.
The forum's significance lies in its framing of China's economic transformation as inseparable from global rebalancing. Yanliang Miao, Chief Economist and Senior Managing Director of CICC, emphasized that understanding China requires a global rebalancing perspective, one that weighs the dynamism of emerging industries against the implications of shifting from old to new growth engines for jobs, incomes, and demand. He noted that alongside green and digital transitions, China is working toward a growth model supported by higher household incomes and services-led consumption. This matters because it signals that China's policy direction is not merely about industrial upgrading but also about rebalancing domestic demand, a shift with profound consequences for global trade and investment flows.
Miao also addressed the evolving international monetary order, observing that shifts in the global economy, trade networks, and financial technology are driving a more diversified international monetary system. He cautioned that economic and trade strength do not automatically translate into international currency status, pointing to institutional credibility and the depth and breadth of financial markets as central to the internationalization of the renminbi. That assessment is important because it tempers expectations about how quickly the renminbi might challenge the dollar's dominance, while highlighting the structural conditions that must be met for any meaningful change in the global monetary architecture.
Huimin Wu, Executive Dean of CGI and Deputy Head of Research Department at CICC, linked the forum's themes to the book The New Pattern of Dual Circulation, jointly published this year by CGI and CICC Research Department. Wu noted that China's economy is entering a new stage of development, with trade and outward investment undergoing a paradigm shift and emerging industries becoming increasingly important drivers of growth in the global economy. These changes, he argued, are both part of and deeply shaped by global economic rebalancing, giving rise to a new pattern of interaction between China and the world. The forum's discussions on innovative pharmaceuticals, green energy, and artificial intelligence thus carry implications beyond China's borders, as these sectors are poised to reshape global supply chains and competition.
The decision to hold the forum in Bangkok is itself a signal. By taking its quarterly macro forum to Southeast Asia for the first time, CGI is positioning itself as a bridge between Chinese economic thinking and international audiences, particularly in a region that is both a major trading partner and a key node in global manufacturing networks. As part of CGI's ongoing efforts to strengthen international exchanges and foster a deeper understanding of China's economic transformation, the event represents an innovative exploration. Looking ahead, CGI intends to continue deepening its international engagement and building a dialogue platform focused on China's economy, contributing to mutual trust and consensus. For global investors and policymakers, such platforms matter because they offer early insight into how China's rebalancing may unfold and what it means for the rest of the world.
