This book provides a timely update on the ongoing transformation of the Chinese economy. As the world's second largest economy, China marked the 40th anniversary of economic reform and opening-up in 2018. In this book, top scholars on Chinese economic studies review China's remarkable economic achievement in the past four decades and analyse the challenges facing economic development in the country.

The book focusses on structural changes of China's economy, which are essential to steer the country towards sustainable development. It studies the long-term factors affecting the Chinese economy such as education and innovation, and emerging sources of economic growth, such as e-commerce. Other important aspects of the Chinese economy explored in this book include the economic role of the Chinese government, fiscal reforms, capital account liberalisation, housing policies, competition policy and anti-monopoly law, China's export, trends of regional development and reforms of state-owned enterprises.

This rich collection of policy-oriented economic studies is also a tribute to Professor John Wong, former research director of the East Asian Institute, National University of Singapore, who passed away in June 2018. For over three decades, Professor Wong had followed and provided insightful analyses on China's economic development.

Contents: Prologue: Remembering Professor John C H Wong (A Special Tribute by Y Y Kueh)BiographyList of ContributorsIntroduction (ZHENG Yongnian and Sarah Y TONG)Structural Changes and Macroeconomic Management:Structural Changes in Chinese Economy: Progress and Challenges (WU Yanrui)The Economic Role of the Chinese Government: Between the Centralised Political System and Decentralised Markets (CHEN Kang)China's Fiscal Reforms: Towards High-Quality Economic Growth (LIN Shuanglin)Capital Account Liberalisation in China (Sarah CHAN)Implementing Competition Policy in China(QIAN Jiwei)Education, Innovation, and New Trend in Development:Science, Technology and Innovation in China: Progress, Problems and Prospects (CAO Cong)Embracing the Era of Educational Finance 3.0 (WANG Rong and TIAN Zhilei)The Development of e-Commerce in China and the Implication for Southeast Asia (KONG Tuan Yuen)Reform and Reorganisation of the State Sector:The Financialisation of the State Sector in China (Barry NAUGHTON)Reforming China's State-owned Enterprises: Recent Development and Prospect (Sarah Y TONG)The Role of the Party Committee within Large State-Owned Enterprises in China: A Theoretical Investigation (Jim SHEN Huangnan and ZHANG Jun)Regional Development and Trade Restructuring:Trends of Regional Development and Shifts of Fiscal Power in China (LU Ding)Housing Policies and China's Economic Development Agenda (LI Bingqin)Global Value Chains and China's Export Miracle (XING Yuqing)AppendixIndex
Readership: Academics, professionals, policymakers and students interested in China's Economic Modernisation and Structural Changes.Chinese Economy;New Normal;Fiscal Reform;High Quality Economic Growth;Capital Account Liberalisation;Educational Finance;Global Value Chain;Competition Policy;Anti-Monopoly Law;E-Commerce;Regional Development;SOEs' Reform00

Sarah Y Tong