Nowadays, the "new normal" has become the hottest topic for the Chinese economy. On the evening of April 16^th, Professor Sun Qixiang, Dean of SEPKU, comes to "Caizhai Forum" and interpreted the origin of Chinese economic risk under the new normal for the Peking University faculty and students.

The “New normal" has become the consensus of the whole society since the General Secretary Xi Jinping put forward it. Professor Sun explained the meaning of new normal and risks under the new normal.

She first illustrated the concepts in risk management, including the meaning of risk, a brief history of the development of risk management, risk analysis and steps to manage risk. Then Professor Sun explained the new normal in a way of comparison between eastern and western cultures. In the West, the new normal means a transformation from the description of terrorism to describe the economic conditions. While in China, General Secretary Xi Jinping put forward the new normal, and gradually fufill the meaning of it. Prof. Sun noted that tense, meaning and significance are the main differences between west and east, while China`s new normal meaning is broader and more significant.

Professor Sun summarized the background of Chinese economic normality as five characteristics of “society”, which includes global society, information society, financial society, aging society and risk society, and four characteristics of “crisis”, which includes high frequency, quick spread, deep impact and big loss. When focusing on the reality of the situation in China, she pointed out that financial risk, agriculture risk, ecological risk, unbalanced risk, public risk and credit risk are six risk sources of Chinese society. Professor Sun also cited examples to prove the sources.

China`s development presents a lot of new risks, which she concludes to three points. First is a period from "big" to "strong". Second is the middle-income trap. Third is a period of transition between new and old. Adding these factors together, Professor Sun concluded that we must pay attention to macro comprehensive risk management. Current society risk presents a comprehensive and dynamic characteristics. Professor Sun thought that it is urgent to establish a set of macroscopic comprehensive risk index system and early-warning management system to monitor and manage some factors to reduce the risk occurrence probability. Despite of all these risks mentioned above, Professor Sun said she was confident with China’s future.

The lecture concluded with a communication between Professor Sun and audiences on the lecture content.