BIZCHINA> Review & Analysis
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BIZCHINA> Review & Analysis
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A blueprint for more reforms
By Fu Jing (China Daily)
Updated: 2009-10-19 08:52
 A think tank professional has good reason to stay close to centers of politics such as Washington, DC, and Beijing. But some prefer to be based far from the world's political elite. Senior political advisor Chi Fulin two decades ago left Beijing to start a think tank, the China Institute for Reform, in the island province of Hainan. "Hainan, one of the frontlines of China's reform drive, is rich in fresh ideas," Chi recalled about his decision during an interview with China Business Weekly. The island province was named one of several special zones, including Shenzhen, by the central government in the 1980s. Located far from Beijing, the institute led by Chi has elevated its research and reputation in the current global financial crisis. Just one day after President Hu Jintao attended the first G20 leaders summit in Washington, DC, last year to deal with the financial turmoil, Chi's institute published the UN-sponsored China Human Development Report. Chi, chief author of the report, said that once a mature public service system is established, public service will become a driving force in the sustainable development of China and lessen the impact of future financial downturns. The government invested in infrastructure nationwide with a 4 trillion yuan ($586 billion) stimulus package last November that is building new roads, bridges and railways to stimulate the economy. Chi and other leading economists became concerned that China could not manage the financial crisis well without deep-rooted reform measures. A call for more change
A five-expert panel led by Chi in March outlined a proposed reform package in the book, Crisis Challenges Reform, saying the reform measures should be implemented to make China's stimulus program more effective.
Released prior to the G20 summit in London, Chi and his colleagues' insights were widely publicized. The UK-based magazine Economist declared the proposed measures fundamental to stimulating China's economy and domestic consumption. "The suggestions in the reform package have been gradually materializing," Chi said. In the first half of this year, China started to link its refined oil prices to the fluctuations of the global market. And the government has also speeded up reforms to the country's healthcare system in cities and rural regions. (For more biz stories, please visit Industries)
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