Cai Fang

The issue of the relationship between China's development achievement and its reform and opening up lies in the core of China's economic miracle. CASS Vice President Cai Fang pointed out that the achievement of China's 40 years of reform and opening up can be summarized into three points: high rate economic growth, continuous adjustment of industrial structure, and poverty alleviation achievements attract worldwide attention. Cai Fang said: "General Secretary Deng Xiaoping set the assessment criteria for the results of the reform since the very beginning of the reform: beneficial for developing the productivity of a socialist society; beneficial for strengthening the overall national strength of a socialist country, and beneficial for raising people's living standards. Over the past 40 years, China has successfully turned its demographic dividend into high rate economic growth. Today, when the demographic dividend disappears, the Chinese economy will turn to relying on the reform dividend, and through further reforms, it will remove the institutional barriers that hinder the supply and allocation of production factors, thereby increasing and stabilizing the potential growth rate of the economy."

Richard Freeman

Harvard professor Richard Freeman Richard Freeman stated that, viewed from the perspective of labor market economics, China's 40 years of reform and opening up has created a dynamic labor market. During China's 40 years of transformation process, people's flow and migration have become very frequent, as a result of which, worker’s income has increased. The transformation and development of the economy has led to gradual reduction of poverty-stricken people, while, income inequality increases at the same time. China needs to establish a labor market and a labor management system step by step and work out relevant laws and regulations as a way to solve the problems of the labor market.