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

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.