High-level Forum: 40th Anniversary of China’s Reform and Opening-up: Progress, Prospects and Impacts on the East Asian Region

Location: Ritz-Carlton Hotel, Financial Street, Beijing, China

The High-level Forum on “40th Anniversary of China’s Reform and Opening-up: Progress, Prospects and Impacts on the East Asian Region,” co-organized by the ASEAN+3 Macroeconomic Research Office (AMRO), the Ministry of Finance of China, and the People’s Bank of China will be held on October 26, 2018 in Beijing, China.

The Forum will bring together high-level policymakers, renowned academics, and senior representatives from international organizations and the private sector, to discuss the experience and lessons of China’s reform and opening-up as well as implications and prospects for the East Asian region. In addition to these two main topics, the development and reform of China’s financial markets and its impact on the global and regional markets will also be discussed at a working lunch.

Over the past 40 years, China’s reform and opening-up has led to leapfrogging economic development and the expansion of China’s role at the regional and global levels, as shown by the close economic ties with its neighboring countries. While these achievements have become the bedrock for further development, China still needs to tackle several challenges to ensure a steady and sustainable growth path toward a modern industrialized economy. At the same time, neighboring countries also need to take stock and understand the implications of China’s increasing economic weight and linkages with the region so that both sides can better benefit from the growing economic ties and strengthening cooperation.

AMRO’s research titled “China’s Reform and Opening-up: Experiences, Prospects and Implications for ASEAN” launched in Beijing on October 25 will be used as background information for discussion.

The event will be open to interested participants and the media. Please go to the registration page to register for the event.




Also available in Chinese




Family Photo
(Speakers, Panelists and Discussants)

Master of Ceremony: Mr. Yasuto Watanabe, Deputy Director of AMRO
Opening Session


Opening Remark by Dr. Junhong Chang, Director of AMRO


Keynote Speech by:
– Mr. Kun Liu, Minister, Ministry of Finance, China

– Mr. Yulu Chen, Deputy Governor, the People’s Bank of China


Coffee Break

Session I: China’s Reform and Opening-up: Experience and Lessons

China’s reform and opening up since 1978 has been a landmark policy with a far-reaching impact not only on China but also on this region and the global economy. China’s economic structure and its macroeconomic policy and management have undergone tremendous changes, resulting in leapfrogging growth, a massive increase in productive capacity and level of economic development, and dramatic improvements in the standards of living of the people. A review of the main experiences and lessons over the past 40 years in reforming key aspects of the economy including the development of a market economy, reform of the state-owned enterprises (SOEs), public finance, financial system, the trade and exchange rate regimes, and macroeconomic management, will benefit future policy deliberations, and provide unique perspectives and insights for other emerging and developing economies. Moving forward, it is important to assess the future prospects and structural changes based on the intended reforms and potential challenges.


Panel Discussion (10 minutes per person)

– Dr. Yanqing Yang, Deputy Editor-in-Chief of China Business News, Managing Director of Yicai Research Institute


– Prof. Weimin Yang, Deputy Director of the General Office of CPC Central Leading Group for Finance and Economics, Director of China Institute for Development Planning at Tsinghua University

– Dr. Yukon Huang, Senior Fellow, Asia Program, Carnegie Endowment for International Peace

– Mr. Alfred Schipke, Senior Resident Representative in China, International Monetary Fund

– Mr. Yoshiki Takeuchi, Director-General of the International Bureau, Ministry of Finance, Japan

– Dr. II Houng Lee, Member of the Bank of Korea’s Monetary Policy Committee

– Dr. Shangxi Liu, President of Chinese Academy of Fiscal Science


Discussions among panelists and Q&As


Move to lunch room

Lunch Session: Development and Reform of China’s Financial Markets: Impact on the Global and Regional Markets


– Dr. Yanqing Yang, Deputy Editor-in-Chief of China Business News, Managing Director of Yicai Research Institute

Keynote Speech:

– Dr. Changneng Xuan, Deputy Administrator, the State Administration of Foreign Exchange

Session II: China’s Reform and Opening-up: Implications and Prospects for ASEAN

Amidst the deepening of China’s reform and opening up process, East Asia, especially ASEAN, has developed close economic and trade ties with China. Looking ahead, with the rapidly growing middle class and improvements in social safety nets, the share of consumption in the Chinese economy will grow further, presenting opportunities for ASEAN in the form of trade in consumer goods as well as outbound tourists from China. The “Belt and Road Initiative” will deepen investment linkages between China and ASEAN. At the same time, China’s industrial upgrading and technological advancement and relocation of labor-intensive industries to ASEAN economies are expected to further affect the dynamics of trade and investment flows between them. While China will further reform, open up, and adjust its economic structure along the plans formulated at the 19th CPC National Congress, ASEAN economies will also undergo further developments and become a sizeable market. Opportunities and challenges will be discussed to identify the prospects for increased trade, tourism, investment and financial linkages, and areas for further cooperation.


Panel Discussion (10 minutes per person)

– Dr. Hoe Ee Khor, Chief Economist of AMRO


– Madam Jiayi Zou, Vice Minister, Ministry of Finance, China

– Dr. Bandid Nijathaworn, Former Deputy Governor of the Bank of Thailand, Visiting Professor of Hitotsubashi University

– Dr. Francisco G. Dakila, Jr., Assistant Governor, Monetary Policy Sub-Sector, Bangko Sentral ng Pilipinas

– Mr. Peter Ong Boon Kwee, Chairman of Enterprise Singapore, Senior Economic Advisor of Ministry of Trade & Industry, Singapore

– Madam Thipphakone Chanthavongsa, Vice Minister, Ministry of Finance, Lao PDR

– Prof. Haihong Gao, Director, Research Center for International Finance of Institute, World Economics and Politics (IWEP), Chinese Academy of Social Sciences (CASS)


Discussions among panelists and Q&As


Conclusion Remark by
– Dr. Mohamad IKHSAN, AMRO’s Advisory Panel Chair, Advisor to the Vice President of the Republic of Indonesia