Scholars give suggestions for Chinese mainland's economy

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Last updated at: (Beijing Time) Thursday, January 08, 2004

Scholars give suggestions for Chinese mainland's economy

Eminent China scholars worldwide Wednesday continued to gather at a Conference here for an open and critical exchange on the situation of China in the past two decades.

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Eminent China scholars worldwide Wednesday continued to gather at a Conference here for an open and critical exchange on the situation of China in the past two decades.

The two-day conference entitled "The State of Contemporary China" is organized by the University Service Center (USC) for China Studies of the Chinese University of Hong Kong (CUHK).

The conference comprehensively runs around 13 thematic panels in which scholars presented their papers surrounding areas of economy, politics, society, family, education and science.

Regarding the topic about the Chinese mainland's public finance system, scholar Christine Wong of University of Washington, America, said she believed it is the key area of vulnerability in the Chinese mainland's transition. Wong suggested in her paper that the budget is increasingly the most important policy instrument of resource allocation by the government due to the fact that the Chinese economy has become more decentralized and market-based.

For the topic of rural economy, scholar Huang Jikun of the Chinese Academy of Sciences dealt with the trend and level of the flow of financial resources between rural and urban, and that between agriculture and industry during the first two decades of reform.

In the paper, Huang suggested that there is a need for the Chinese mainland's economy to experience a fundamental transformation from rural to urban and from agriculture to industry and services.

Besides, a larger shift in financial policy is required for the Chinese mainland to move to a new phase of development, according to Huang's paper.

The State of Contemporary China is organized by the University Service Center (USC) for China Studies for its 40th anniversary celebration. Established in Hong Kong in 1963 for the study of contemporary China, the USC provides a comprehensive collection of materials on post-1949 China.

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