The Third Plenum and China's Unfinished Reforms

The last three decades we have witnessed China's stellar economic growth. This started when Deng Xiaoping launched radical reforms to China's development strategy in the early 1980s, and was followed by China's "opening up" in the 1990s, integrating China into the global economy.

Since the global financial crisis, China's GDP growth and export growth have lost momentum. A new economic reform agenda has become urgent. Last year's Third Plenum of the 18th Communist Party Congress Report outlined an ambitious blueprint for China's next round of reforms.

Reforms to state-owned enterprise, reforms to the system of land-rights and sales, reforms to the financial system, political and social reforms, and many other proposals were put on the leadership's policy making agenda.

Will the traditional approach of "crossing the river by feeling the stones" still be effective, or does the leadership need to implement "big bang" reforms to shake out entrenched vested-interests and rent-seekers that stand in the way of China's continued development?

What will be the implications of the leadership's approach to these reforms? What will the outcome of these reforms be for China and the global economy?

About the Speaker

He Fan is a Visiting Fellow at the ANU's East Asian Bureau of Economic Research, and is Deputy Director at the Institute of World Economics and Politics within the Chinese Academy of Social Sciences, the leading think tank for China’s top leadership. He is one of the top economists in China and one of the youngest Chinese intellectuals ever to advise the Chinese leadership.

His fields of interest include international finance, Chinese macro-economy and international political economy. He is the author or editor of 10 books and more than 80 papers in professional economics journals. In recent years, Dr He has worked on issues such as RMB exchange rate policy, China’s foreign trade and FDI policy, financial system reform as well as China’s foreign policy. He is a consultant for China's Ministry of Finance, Ministry of Commerce, People’s Bank of China, Ministry of Foreign Affairs and is deeply involved in many policy discussions.

He holds a PhD in Economics from the Chinese Academy of Social Sciences and was a visiting fellow at Harvard University from 1998 to 2000.

Join CIW and EABER to discuss these and other critical questions facing China's policymakers with one of China's leading economists and advisers to the Chinese leadership, Dr He Fan, Visiting Fellow at EABER and Deputy Director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences.