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The magnificent reform and development of China has enabled it to rise rapidly, becoming the second largest economy in the world. These changes have fundamentally transformed the destiny of more than a billion Chinese people, and profoundly affected the landscape and future of the world economy, a phenomenon widely referred to as the “China Miracle.”
We have prepared this Dictionary of Contemporary Chinese Economics (hereinafter referred to as the Dictionary) with the practice of China’s reform and development as its background, the theoretical development of Chinese economics as it’s guiding framework, and the decoding of the China Miracle as its mission.
The Dictionary is targeted at theoretical review and conceptual refinement of the successful practice of China’s reform and development; it highlights the achievements of Chinese economics over the past 40 years, aiming to introduce Chinese economics to the world. Through its Chinese discourse, the Dictionary seeks to present China’s path, theory, system and culture, making them globally recognized and appreciated.
Summarizing the successful experience of China’s reform and development over the past 40 years, we have found that one of the most important principles is seeking truth from facts, emancipating the mind, and promoting innovative development. It can be said that the period since the reform and opening up is the most innovative, the fastest developing, and the most fruitful for Chinese economics theories. The practice of China’s reform and development has put forward the topics and challenges for theoretical innovations in economics, which, in turn, have further advanced these practices. First of all, as the innovations of Chinese economics are rooted in China’s unique context, the Dictionary represents a theoretical achievement in the Sinicization of Marxist economics. Therefore, it strives to reach a new realm in the development of Marxist economics in contemporary China by combining inheritance and development in its elaboration. Secondly, the Dictionary refines and summarizes the practical experience of China’s reform and development, aiming to demonstrate Chinese characteristics through the selection of entries that integrate theory with practice in its explanations. Thirdly, the Dictionary draws on the scientific achievements of foreign economics, ensuring the entries reflect the general concepts and laws of economics while unifying the Chinese characteristics with an international perspective.
The purpose of the Dictionary is to showcase the progress of research and theoretical innovations in contemporary Chinese economics. Instead of introducing the foreign economic achievements to the Chinese readers, it focuses on promoting the Chinese economists’ theoretical contributions on a global stage. Therefore, the Dictionary does not include any specific topic on Western economics. The research findings in the Dictionary reveal that the Chinese socialist economic theory, economic system, and developing path with Chinese characteristics are the foundation of China’s economic success. Based on these insights the Dictionary tries to establish an academic and discourse system of economics with distinct Chinese characteristics, reflecting the splendid history and substantial achievements of China’s reform and development.
China’s reform and development is not a mission accomplished, but an ongoing process. As practices develop, so do economic theories. The compilation of the Dictionary not only summarizes the past innovations in Chinese economics, but also tracks the new development in the new era of China’s reform, especially incorporating the new features since the 18th National Congress of the Communist Party of China. It serves as a comprehensive, accurate, and timely reflection of the contemporary trends in the field of Chinese economic studies.
Nowadays, although many different kinds of economic dictionaries are published, the Dictionary distinguish itself by presenting a comprehensive overview of the Chinese economics. It deserves its title as “a dictionary.” Firstly, it is a “library of classics in economics.” The Dictionary encompasses all disciplines of economics, covering 11 disciplines across theoretical economics and applied economics, with all important domains of the development of economics in China. Given limited space, entries of common sense or those that have remained fundamentally unchanged are not included. Additionally, to avoid repetition, cross-cutting entries appear only once. Secondly, the Dictionary emphasizes “argumentation” over general explanations. In particular, new concepts emerging since the reform and opening up, as well as innovations in Chinese economics, are systematically introduced through theoretical origins, evolution, and commentaries.
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