Can Xi Jinping’s Reforms be Implemented? Let’s Look at China’s Fiscal Architecture
Professor Christine Wong
Director, Centre for Contemporary Chinese Studies, University of Melbourne
Time: 5.30pm to 7.00pm, Thursday 5 March 2015
Venue: Room 321, Level 3, Sidney Myer Asia Centre, University of Melbourne
At the Third Plenum of the 18th Party Congress in November 2012, Xi Jinping and the top leadership adopted an ambitious, comprehensive program of reforms aimed at modernizing governance in China. The program calls for the government to retreat from its current role in allocating resources and focus instead on basic functions of macroeconomic management, market regulation, public service delivery, and environmental protection. Measures have already been rolled out that touch upon all economic sectors and institutions: the fiscal system, the financial system, state-owned enterprises and competition policy, trade and investment policies, land policies, labor and welfare policies, and environmental policy, etc.
This presentation will look at the structure and organization of the fiscal system to assess how fiscal reforms will likely evolve, to highlight the systemic constraints to implementing top-down, radical reforms and identify some major gaps in reform design.
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