In contrast to a planned economic system, in a market economy, capital funds, material resources, and personnel are not allocated by and among the various administrative departments of government through administrative channels, but are circulated through market exchange. The willingness of the...

Collected here are seven articles on the reform of the price system in China. Each article has been abridged or excerpted.

The problems of the system of ownership and of property rights are the two most difficult problems to resolve in the reform of China's economic system, and yet they are also the two problems that most urgently need to be resolved. Since 1979, when the reform process began to take place, at every...