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The Interaction of Theory with Practice in China’s Price Reform

In: Handbook of Chinese Economics

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  • Zhuoyuan Zhang

Abstract

As an essential component of China’s economic restructuring, price reform is crucial to the formation of a modern market system and the decisive role of the market in resource allocations. Over the past four decades, price reform has been at the forefront of the economic restructuring reform, striding forward steadily from the very beginning, sometimes at a rather past pace. This stands in sharp contrast to the sputtering reform of state-owned enterprises. The success in price reform is an important factor contributing to the rapid transition of China’s economic operation mechanism, the emergence of a buyer’s market in the mid and late 1990s, and the rapid increase of economic marketization.

Suggested Citation

  • Zhuoyuan Zhang, 2023. "The Interaction of Theory with Practice in China’s Price Reform," Springer Books, in: Handbook of Chinese Economics, chapter 0, pages 183-211, Springer.
    • Handle: RePEc:spr:sprchp:978-981-99-0420-4_7
    DOI: 10.1007/978-981-99-0420-4_7
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