This book consists of studies on China’s economic development since China carried out the reform and opening-up strategy, including China’s economic restructuring, economic operational mechanism, socialist market economy, inflation, the reform of the urban housing system, the economic impact of WTO entry, the future potential growth rate, global economic governance, structural fiscal and taxation reforms, the rapid growth of China’s financial industry, and more. These studies explores China’s successful experience of economic growth in the past and will shed some light on China’s economic development in the future, providing value to economists and Chinese scholars.

This book focuses on the key issues around Chinese reform in the past 40 years, including economic structure upgrading, finance reform, enterprise ecology, village modernization, ecological development, income structure, global governance, BRI, and governance model. It collects the most important concerns and reveals the deep logic behind the reform. By reading this book, it helps readers to grasp the engine of China’s continuous growth toward modernization in the four decades.

This book first shows that the past 40 years of China's economic reform and opening up represents the greatest magnitude of economic growth in history. Based on field trips, extensive and intensive interviews and literature surveys, this book argues that there are five general lessons for a rapid growing economy from China's economic reform and opening up, all in the area of the relationship between the government and the economy. First, the local governments need to be incentivized to help rapid entry and development of enterprises. Second, local governments need to be incentivized to help rapid land conversion from agricultural to non-agricultural. Third, financial deepening is vital; that is, inducing households to hold more and more financial assets in local currency. Financial deepening is essential to convert savings into investments. This requires financial stability, which is crucial. Fourth, the learning through opening up is the key to endogenous economic growth. The fundamental benefit of opening up is learning rather than enjoying comparative advantage. The fifth and final lesson from China is that the central government must proactively manage the macroeconomy. The rationale is that enterprises compete with each other in games of industrial organization. In order to resolve this problem, proactive measures including market-oriented means, administrative orders and reform measures should be implemented. Overall, the main lesson from China's past 40 years of reform and opening up is that proper incentives and behavior of the government, local and central, are important for economic growth. China has been conducting reforms in this regard and as a result, the government more or less has been playing the role of a "helping hand" regarding economic growth, although China's economic system is far from perfect and many reforms are still needed.

The year 2018 marks 40 years of reform and development in China (1978–2018). This commemorative book assembles some of the world’s most prominent scholars on the Chinese economy to reflect on what has been achieved as a result of the economic reform programs, and to draw out the key lessons that have been learned by the model of growth and development in China over the preceding four decades. This book explores what has happened in the transformation of the Chinese economy in the past 40 years for China itself, as well as for the rest of the world, and discusses the implications of what will happen next in the context of China’s new reform agenda. Focusing on the long-term development strategy amid various old and new challenges that face the economy, this book sets the scene for what the world can expect in China’s fifth decade of reform and development. A key feature of this book is its comprehensive coverage of the key issues involved in China’s economic reform and development. Included are discussions of China’s 40 years of reform and development in a global perspective; the political economy of economic transformation; the progress of marketisation and changes in market-compatible institutions; the reform program for state-owned enterprises; the financial sector and fiscal system reform, and its foreign exchange system reform; the progress and challenges in economic rebalancing; and the continuing process of China’s global integration. This book further documents and analyses the development experiences including China’s large scale of migration and urbanisation, the demographic structural changes, the private sector development, income distribution, land reform and regional development, agricultural development, and energy and climate change policies.

当前中国经济正在经历一个变化的节点，处于新旧动能转换的关键阶段，长期的发展积累了庞大的经济总量，主要矛盾是供给结构老化。2015年11月10日召开的中央财经领导小组第十一次会议上，习近平提出了“供给侧结构性改革”的概念，这一结构性改革抓住了中国经济运行的主要矛盾。 本书的作者滕泰是中国新供给主义经济学的创立者和倡导者，他早在2013年就提出了完整的新供给经济学的理论体系；2015年，他参加了李克强总理召开的国务院经济形势分析会，并做了关于供给侧改革的书面和口头汇报。目前，新供给经济学派在中国乃至世界的影响力都在迅速扩大。 在本书中，滕泰将从学术的高度，讲述新供给主义经济学的来龙去脉，用中国改革的实例和案例作为论据，论证供给侧结构改革的意义、做法和发展未来。本书的内容主要包括：“新供给创造新需求”、“新供给经济周期”、“经济增长动力与模式”、“结构性改革与供给升级”等，每一个章节都理论与实例并举，对供给侧结构改革进行剖析并提供决策性意见。 本书包括中国供给侧改革的案例和理论，在国际上传播中国学者对中国的经济学的研究、中国深化改革的研究、中国供给侧结构改革的理论和实践性研究，具有创新性的学术价值。随着世界范围内对中国深化改革和供给侧改革的关注，这本书的英文版无论从学术方面还是外宣角度来说都是不可多得的权威且优质的学术作品。

This book shows the impact of the recent trade tensions between China and the US on the world trade order, and how parties have reached a deal (so called 'phase one', January 2020), which could lead to a more comprehensive agreement, and the consequences of these 'adjustments' in shaping new equilibriums.After 40 years, China has transformed into an economic superpower, which could now rival the US. This has evoked some concerns, and put the US in an uncomfortable position, as the US views the rise of China as a threat to its predominance and interests. However, China's development and its increasing economic power, which is a direct consequence of the ongoing reform process, is unstoppable.The confrontation between China and the US will favor Chinese expansion into the EU not only because the EU offers a more receptive environment for Chinese Foreign Direct Investment, but also because the EU and China have more in common if we consider the Belt And Road Initiative and the new bilateral investment agreement which is under negotiation. The EU, not only represents the final destination of the BRI, but also a more logical and convenient trade partner for China.The shift of Chinese attention toward the EU will also change the equilibrium between China, the EU and the US, bring forth the negotiation of new trade agreements, and move the entire international community towards a new world trade order and a new multilateralism which might evolve into a tripolarism.

This book is devoted to taking a lead in establishing a multi-disciplinary and inter-disciplinary platform for exchanging fresh thinking in the field of strategic studies. The book gathers invited reports from prestigious scholars in such research areas as political philosophy, economy, history, international security and diplomacy. The theme of the book is grand in nature, for the world is undergoing once-in-a-century great transformation, meanwhile China faces the critical moment for its great rejuvenation, how China thinks about and designs its relations with the world is a key issue in the international arena. The book reveals that the greatest challenge to China in this context is how to secure and extend its period of strategic opportunity, and actively shaping this period should be regarded as the core trend of its response. The aim of this book is threefold: firstly, to provide a comprehensive overview of the undergoing world transformation and its interaction with China; to analyze how China deals with internal and external challenges, why China could still have strategic opportunities and what will and should China do to sustain and reshape its period of strategic opportunity, secondly, to analyze how China deals with fierce strategic competition with the U.S., and how it develops its relations with other countries, especially great powers; to analyze the challenges that the BRI faces and how China reshapes it relations with other developing countries via cooperation on the BRI; thirdly, to provide a vivid picture of world transformation and China’s design of its grand strategy, to investigate the key factors in securing China’s sustainable development and its period of strategic opportunity, and indicates that the key is to develop a global vision and provide new strategic opportunities for the world, and the support comes from a stronger presence in the region and an optimized geopolitical and economic environment. The book provides Chinese visions and wisdom on world transformation and strategic opportunities, reveals Chinese wisdoms in dealing with transformation and crises, all readers could learn more if they could keep calm and think.

This book examines the evolution of Chinese governmental governance and its long-lasting impact on Chinese economic development, firstly by examining the formation of Chinese style governance, the core contents of this governance and its vitality compared to other governance patterns in Chinese history. Secondly, this book discusses the effectiveness of this governance in supporting economic development before the Song dynasty and its failure in serving economic development during the past three to five centuries. Ultimately, Hongjun Zhao predicts the direction Chinese governance will take in the next 20 years.

This volume introduces readers to the achievements made in the context of China’s reform and opening up. It tells China’s story with regard to twelve aspects: the reform path, opening up, macro-economy, regional development, the “three rural” policy, poverty alleviation, industrial development, scientific and technological leadership, ecological civilization, human resources, social security, and income distribution. On the one hand, China’s successes and lessons learned in this regard – e.g. the establishment of special economic zones and pilot zones in advance, followed by the implementation of regional development strategies – can be condensed into a general sense of Chinese wisdom. On the other, China’s participation in economic globalization and global economic governance can serve as a role model, helping developing countries overcome poverty and move towards modernization. As China accounts for nearly one fifth of the world’s total population, the problems and difficulties that it faced at the beginning of reform and opening up are similar to those of many developing countries; therefore, it can provide valuable guidance for developing countries in the form of Chinese wisdom and Chinese approach.

This book is devoted to go beyond the traditional contests and traditional theoretical framework to a new combination of domestic, regional, global visions of China’s Opening-up. It will be regarded as a research agenda based upon China's domestic strategy and international strategy and is committed to building China's open, scientific and complete national strategic system. Its main content are: Aiming to realize the great Chinese national rejuvenation, outline China's strategic thinking of opening to the world, sort out the strategic course of China's opening up, explore the strategic path of China's opening up, evaluate the strategic effects of China's opening up, and promote China's strategic innovations of opening up.