Macroeconomic Management in China: Proceedings of a Conference in Dalian, June 1993 (World Bank Discussion Paper)

This discussion paper presents the proceedings of a conference that was held in Dalian, China in June 1993. This was attended by many leading Chinese reform economists, as well as foreign scholars specializing in Chinese affairs and World Bank staff. It was focused on measures to improve macroeconomic management in China, but it took place against a background of the overheating of the Chinese economy, which developed over the first half of 1993. Therefore, the conference was concerned both with measures to address the short term problems facing the economy, as well as reforms to overcome the deeper, structural issues. Papers were presented by the Chinese participants on such topics as financial sector reform, fiscal policy, the role of industrial policy, and state asset management. The foreign participants prepared comments on these papers, and the meeting concluded with a clear set of recommendations and proposals, which were submitted to the Chinese leadership at a very opportune time, in terms of policy formulation. This paper therefore seeks to preserve the contents of what turned out to be a significant conference.