Yifu Lin

China's reform and opening up has not been conducted following existing theories, rather, it has been pushed forward by a "crossing the river by feeling the stones" like means, and following the principles of "liberating the ideology, being practical and realistic, and advancing with the times."  Professor Justin Yifu Lin, Dean of Institute of New Structural Economics, Peking University, pointed out that, in the latter part of the 20th century, most developing countries went on the road of privatization, marketization, and liberalization, under direction of the mainstream economic theory, but most of them failed. Actually, for the income level of developing countries to catch up with that of developed countries, their industrial structure must reach the level of developed countries, which requires an established market, sound supporting infrastructures and institutional arrangement, all of which require a government that actively does things. To study China's reform and opening up based on existing theories, we should not see the problems alone; we should also see the achievements. From this perspective, we should let China's economic practice become a source of China's innovation of economic theories.

Li Yang

CASS member Li Yang said, based on China's 40 years' practice of economic development, the area in which it is most likely for Chinese economics to make contribution to development of world economics is in development economics. A long time of high rate growth and continued adjustment of the economic structure have brought the Chinese economy to new stages. Whether it is maintaining a high rate of economic growth or keeping the economic structure constantly adjusted, investment is needed; and inflation-free investment requires sufficient savings to support it. In this connection, China has done a good job.

Donghan Jin

Former president of Shanghai University Donghan Jin stated that, summing up the great practice of China’s reform and opening up, and refining it into a scientific theory, providing China’s experience, China’s wisdom, and China’s plan for the reform and development of the countries across the world, is of high practical significance and far reaching historical significance for China’s economy and the sustainable development of the world economy. In addition to the miraculous achievement that China has made in economic development, China also needs to make great achievement in theoretical innovation. Contemporary Chinese scholars shoulder a special mission for the history and age, and they have the responsibility to help China's reform and opening up to start again, and to illuminate the advancing road for the world economy in difficulty, by collision of their thoughts and wisdoms and sharing of their experiences.

The conference was co-sponsored by the CASS Coordination Office of Think Tanks, Shanghai Academy and Shanghai University.