Peking University, Nov.30, 2011: The China Economists Forum 2011 and China Economic Theory Innovation Award Ceremony were both held in Taikang Hall, at the Peking University (PKU) School of Economics on November 26, 2011.

Before the forum began, everyone rose and stood in silence to remember the famous Chinese Economist, the late Zhang Peigang.

The PKU School of Economics Dean Sun Qixiang made the opening speech on behalf of the Organizing Committee for the China Economic Theory Innovation Award. She noted that the Chinese economy has entered a new era of development after the thirty-year economic policy of Reform and Opening. However, as it was pointed out by Professor Sun, Chinese society has also accumulated many problems and contradictions, facing challenges including energy security, external economic shocks, economic structure transformation, the sustainability of economic growth, and continuing economic reform. The methods and procedures of China’s future economic reform need discussion among government officials and academic scholars.

Dean Sun Qixiang delivers her opening speech.

Professors at the forum delivered speeches about topics such as how long China’s rapid growth can continue, the historical significance of incremental reform and its difficulties, the impact of the European debt crisis and China's countermeasures, challenges to economic growth brought about by the separation of technological change and economic cycles, Chinese statistics, health system reform, the importance of government regulation in macroscopical economy, contracting and developing differences between urban and rural areas, and so on.

China Economist Forum 2011

Prof. Li Yining delivers his lecture at the forum.

Following the China Economists Forum was the presentation ceremony for the China Economic Theory Innovation Award. The winning theory this year is “dual-track system theory" contributed by Watson Research Group (including Watson, He Jiacheng and Jiang Yue), Professor Tian Yuan, and Professor Zhang Weiying.

The dual-track price system is the intermediate price system between the state-controlled price system and the free market price system. This transition through the dual-track system reflects the most fundamental characteristic of Chinese economic reform. Watson Research Group, Professor Tian Yuan and Professor Zhang Weiying have made a great contribution to dual-track price system reform and provided the basic methods for central pricing reform. The dual-track price system provides instruction on price reform both theoretically and practically, impelling the construction of markets in socialist society and lowering the transition cost. The theory’s notion of incremental reform also has practical meaning for China's reform in other fields and similar reform conducted by other countries. In all, it is an academic innovation for both China and the world’s economy.

Former PKU President Wu Shuqing attends the forum.

Group photo of the award winners and presenters

Written by: Jiang Zhaohui
Edited by: Arthars, DJRM 
Source: PKU News (Chinese)