The Lecture Hall accommodating more than 400 people had a full house before the lecture started.

In the first part of President Hai’s lecture, he recalled the changes in China’s economic policy since the last 60 years. He divided the 60 years into four stages. The first stage is the socialist transformation from 1949 to 1957; the second stage is the planned economy from 1957 to 1978; the third stage is the period of attempt to reform in the end of 1970s; the forth stage is the comprehensive reform after 1993.

President Hai pointed out that we explored an unprecedented path, that is, using planned economy to realize common prosperity, in the first 30 years. In the later 30 years, we transited to another road —— market economy in order to deal with the remaining issues.