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China's Economy Amid New Challenges: Exploration of Chinese Economists

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Editors in Chief: Prof. Jin Bei, Prof. Li Gang

ISBN: 978-1-84464-472-8

Ebook ISBN: 978-1-84464-473-5

Hardback-307 pages

July 31, 2016


£90 €110 $150



This book is a collection of some recent of the best articles by China Economist and it represents top Chinese economists major research outcomes and opinions on economic matters, status and trends from various perspectives. Some work with China’s highest academic research institutes and policy consultation agencies, while others work with related agencies and universities. Hence, this book largely reflects the key concerns and efforts of economic research institutes, policy advisory agencies, regulatory policy research departments and universities on China’s economy.

From the launching of reform and opening-up in 1978 to the dawn of the 21st century, China has been transformed from a self-enclosed, planned economy to a market-based one, and the country has integrated itself into the international community. China wishes to look beyond its border and engage in equal-footed dialogue with its partners and competitors. With China’s rapid emergence and great achievements, other countries increasingly want to learn more about this “mysterious oriental country” and the miraculous changes taking place here. However, we have also found that abroad, the public, high-ranking officials and even media and academia may not have a clear picture of China. Chinese scholars views on their country and beyond are not well understood by foreign scholars, not to mention people in the street, and overseas officials and scholars do not appreciate China’s realities. Legitimate claims and well intentioned expressions from China are often misunderstood or distorted by the media, and it seems that the world is unprepared for a changing China. China needs to know itself and the outside world, and the world needs to have a closer look at China as well. Research on the China phenomenon and its implications has become topical around the world. Hence, developing diversified channels and platforms of communication is necessary both in China and the outside world.

In this book, which includes dozens of articles written by Chinese economists and researchers, authors wish to tell the world a truth: Although China has become the world’s second largest economy, its GDP per capita is very low. China remains a developing country, and development is its top priority and the basis for all welfare programs. The rights of development are basic human rights upon which China cannot waiver. Development is the best gift China has to offer to the world. Meanwhile, Chinese scholars should also recognize that China must deepen reform and expand opening-up, balance efficiency with fair income distribution, use resources in more efficient, refined and clean ways, and challenge its enterprises to assume more social responsibilities. Only in this way can China complete its historic transition from a developing country to a mature, modernized country.



Part One: Macro economy Chapter 1 “Middle-Income Trap” and “High-Income Wall” : Challenges and Opportunities to China, by Liu Shijin et al Chapter 2 Don’t Overlook GDP and Investment: An Analysis of China’s Current Economic Trend, by Liu Shucheng Chapter 3 How Long Can China’s Economy Keep Growing? By Zhang Jun Chapter 4 How China Can Avoid the “Middle-Income Trap”,by Ma Xiaohe

Part Two: Institution & Mechanism Chapter 5 The Contribution of Marketization to China’s Economic Growth, by Fan Gang et al Chapter 6 China’s Marketization since WTO Accession, by Li Xiaoxi Chapter 7 Shifting to a Market-Based Wage-Setting Mechanism for Low-Skilled Labor: Macro economic Effects, by Yang Ruilong et alChapter 8 Regulation or Property Rights: The Effect of China’s Coal Mine Shutdown Policy on Work Safety, by Bai Chong’en et al Chapter 9 A Modeling Analysis of Local Governments Competing in Offering Subsidies to Attract Investment: the Cause of Industrial Overcapacity, by Jiang Feitao et al

Part Three: Government Policy Chapter 10 China’s Sovereign Balance Sheet and Its Risk Assessment, by Li Yang et al Chapter 11 China’s Monetary Policy Instruments (2001-2010): Paradox, Analysis and Suggestions, by Wang Guogang Chapter 12 China’s Regional Policy Scenarios for 2011-2015 Period, by Wei Houkai et al Chapter 13 Developing Secondary Industry to Drive China’s Future Growth, by Jin Bei Chapter 14 Domestic Demand-based Economic Globalization: Strategic Choice for China to Profit from the Second Wave of Globalization, by Liu Zhibiao

Part Four: Industrial Development Chapter 15 China’s Industries in the Beginning of Its 12th Five-Year Plan Period, by Jin Bei Chapter 16 Relying on Secondary Industry to Drive National Policy and Reinvigorate China’s Economy, by Huang Qunhui Chapter 17 Recalculating the Significance of Secondary and Tertiary Industries for Industrial Restructuring: Truth and Myth, by Li Gang et al Chapter 18 Technology Gaps, Resource Allocation and Economic Growth of Large Late starting Countries, by Ouyang Yao et al


Editors in Chief:

Prof. Jin Bei , Ph.D. in Economics , Academician of Chinese Academy of Social Sciences. Research Fellow , Institute of Industrial Economics, CASS. Professor, the Graduate School of CASS. Chairman of Regiongal Economy Association of China. Presdent , CHINA BUSINESS JOURNAL. Executive Deputy Director of Editorial Board & Editor-in-Chief, CHINA ECONOMIST. Prof. Jin Bei published more than 400 papers and more than 30 books concerning industrial economics , industrial organization, industrialization, economics of competitiveness , theory and practice of enterprises, 19 of which won the national or ministerial prizes of excellent works. Prof. Li Gang, Director of Editorial Department, China Economist. Professor, Institute of Industrial Economics Chinese Academy of Social Sciences

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