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Explainer4 Chinese economists and academics advising Beijing on capital, employment and finance
- China’s tone-setting third plenum will take place next week, with officials having heard advice from economists and academics on Beijing’s economic strategies
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Since the third plenum of China’s 19th Central Committee’s in 2018, economists and academics have offered advice on how Beijing should plan its economic strategies.
And with the tone-setting third plenum of the new Central Committee set to take place next week in Beijing to chart China’s long-term growth path, we look at four of the economists and academics who have in recent years offered insight into capital, employment, social security, financial services, the stability of the financial system and integration of digital technology.
1. Liu Yuanchun
Liu Yuanchun, who is president of the Shanghai University of Finance and Economics, talked about strategies for China to guide its capital toward healthy and compliant development during a lecture attended by top leaders, including President Xi Jinping, in April 2022.
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Liu and other officials also discussed that Beijing should allow the market to play a decisive role in resource allocation, and to provide a favourable market and legal environment for the private sector, according to publications on the official website for members of the Communist Party.
Liu later advocated for Beijing to accelerate the enhancement of its social security system, invest more in equal education and increase income for its middle-class population to avoid the middle-income trap.
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In the blog post in May by the Beijing-based Finance 40 Forum think tank, Liu also called on Beijing to achieve breakthroughs in its hukou national household registration system to give equal services to rural workers and allow their children access to education in the city where their parents work, while also promoting the flow of better educational resources to less developed areas.
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