In the second webinar of the “Staying in Dialogue with China” webinar series, Co-founder and Managing Director of CMG, Markus Hermann, will talk to Prof. LU Feng, Emeritus Professor of Economics at the National School of Development (NSD) at Peking University, about China’s "Market-Oriented Reforms".
China kicked off its institutional reform from a centrally planned to a more market-oriented economy in the early 1980s under Deng Xiaoping, but – unlike the “shock therapy”-type liberalization of the Soviet Union – Chinese policymakers have been careful in introducing market forces in a gradual and dual-track fashion, essentially letting the market grow out of the plan. So, after 45 years, the state still plays a prominent role in China’s economy, even given the official policy goal that the market shall play a “decisive role” in allocating resources.
What are the roles of the “visible” and “invisible” hands in the market based on CCP ideology? How are factors of production (labor, capital, land, data) liberalized today? What are policy factors preventing more rapid liberalization in general? How to balance market forces and government interventions in view of China’s innovation and security needs? What is the link of ‘market-oriented reforms’ and ‘industrial upgrading’ as two structural transitions? What are policy trends regarding capital (state, private and foreign), e.g. the ‘mixed-ownership reform’? What is the reform logic for China’s financial system? How are anti-monopoly and IP protection evolving under the 14th Five-Year-Plan?
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This webinar is part of the webinar series 'Staying in Dialogue with China'. The series will bring you six webinars with distinguished China-based experts, concentrated between April and October 2024.
'Staying in Dialogue with China' is organized and hosted by China Macro Group (CMG), with Caixin Global as Anchor Partner, in cooperation with the China Europe International Business School (CEIBS), Chinaforum Bayern, Swissmem, the Swiss Chinese Chamber of Commerce (SCCC), the Danish-Chinese Business Forum (DCBF), SwissCham China, the Stein am Rhein Symposium (stars), and the Sweden-China Trade Council (SCTC).
