Institutional Organization and China's Economic Reform

Author: Zhang Jun
Publisher:
Publish Date: 2004-05-01
Features: China's economic development is facing new institutional challenges. A fundamental consensus is that financial reform and legal transformation are the more challenging aspects of China's economic reforms. The transformation of the financial and legal sectors is an absolutely complex task that requires exceptionally brilliant minds. Interestingly, many people choose to study finance and law because of their intelligence. And today, choosing to personally participate in and promote the reform of the financial and legal systems in China is even smarter. Of course, since the transformation of the economic system itself is a complex social process, there is no directly copyable model. It requires inducement, as well as push, and even more the interaction of politics, culture, economy, and society. Therefore, even the smartest minds cannot replace all of this. However, with smart people, we can understand what we are doing and why we are doing it. But, as individual economists, they can be the ones who propose major theoretical questions, the ones who conduct pioneering work on China's issues, or the leaders and coordinators of research projects. Regardless of the nature of the work, they all contribute together to the development of Chinese economics and modernization.