From December 22 to 24, 2011, the “2012 Economy, Trade and Shipping Market Outlook Forum”, organized jointly by China Ocean Shipping Intelligence Network and Shanghai International Shipping Institute (SISI), was successfully held in SISI.

At the opening ceremony, Li Gang, Secretary and Deputy Secretary-General of SISI delivered a welcome speech. Director Yu Siqin of the General Office of China Ocean Shipping Intelligence Network reported the work in 2011 to member organizations and put forward the plan for 2012. He pointed out that the Intelligence Network will continue to pursue practical work and development, providing all members with satisfying services.

2012 Economy, Trade and Shipping Market Outlook Forum

The Forum brought together renowned experts and scholars in aspects of economy, trade and shipping, as well as numerous professionals in the industry. All participants exchanged in-depth analysis on global economy and trade patterns, the trend of international shipping market, and the development of ship financing market in 2012.

Director Liang Yanfen of World Trade Department, Chinese Academy of International Trade and Economic Cooperation analyzed the status quo of current world economy and trade, as well the trade relations between China and other emerging economies. As identified by Director Liang, the current global economy features increasing risks of economic downturn, gradually narrower space for policy instruments in developed countries, new variables added to the European sovereign debt crisis, and intensified trade protectionism. International trade will rise by an estimated 5.8% in 2012, lower than the 7.5% in 2011. In the post-crisis era, China shall maintain a steady trade growth with EU, the US and Japan, three major trading partners, and realize soaring trades with other emerging economies and developing countries. The latter is expected to become a new growth point in China’s foreign trade, and serve as an important way for China to reduce its dependence on the U.S. and European markets and avoid the risk of declining exports. However, the conspicuous homogenization in industrial structures between emerging markets and China may lead to vast direct competition and increasingly serious trade frictions.