China’s Economic Transformation Part 1: Economic Reform and Growth in China

The Hong Kong University of Science and Technology

China’s Economic Transformation Part 1: Economic Reform and Growth in China

Instructor: Albert Park

13,172 already enrolled

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6 modules

Gain insight into a topic and learn the fundamentals.

204 reviews

Beginner level

No prior experience required

1 week to complete

at 10 hours a week

Flexible schedule

Learn at your own pace

6 modules

Gain insight into a topic and learn the fundamentals.

204 reviews

Beginner level

No prior experience required

1 week to complete

at 10 hours a week

Flexible schedule

Learn at your own pace

Skills you'll gain

Details to know

Shareable certificate

Add to your LinkedIn profile

Assessments

7 assignments

Taught in English

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There are 6 modules in this course

In 1978, after nearly 30 years of socialist planning under Mao Zedong, China was one of the world’s poorest countries, saddled with an inefficient, inward-looking economy. Today, China is an upper-middle income country and the world’s largest trading nation, contributing more to global economic growth than any other nation. How could such a remarkable transformation take place?

This course will examine in detail the reforms that have contributed to China’s economic development and the current challenges facing the Chinese economy. After completing this course, you will be able to: - describe the origin and consequences of China’s key economic reforms since 1978; - explain how features of China’s fiscal and financial systems have impacted development outcomes; - assess the extent to which China has integrated itself into the global economy and the consequences of such integration for China and other countries; - explain the importance of different sources of economic growth during different periods since 1978; and - critically assess the economic and policy challenges facing China going forward. This course does not offer certificate at the moment. Course Overview video: https://youtu.be/YBkhpvWUoIw

In this module, we will introduce you to China's gradualist reforms. But before you start with the lectures, please watch the Course Overview, review the Assignment and Grading page, and introduce yourself to other learners who will be studying this course with you.

What's included

8 videos3 readings1 assignment2 discussion prompts

8 videosTotal 63 minutes

Course Overview4 minutes
1.1 China’s Gradualist Reforms – An Introduction4 minutes
1.2 Institutional Change – A Framework8 minutes
1.3 Reform Overview9 minutes
1.4 Decollectivization of Agriculture10 minutes
1.5 The Rise and Fall of Township and Village Enterprises (TVEs)10 minutes
1.6 The Problem of State-owned Enterprises14 minutes
1.7 China’s Gradualist Reforms – Module Summary5 minutes

3 readingsTotal 30 minutes

Assignments and Grading10 minutes
Module 1 Course Reading10 minutes
Module 1 Lecture References10 minutes

1 assignmentTotal 30 minutes

Quiz 130 minutes

2 discussion promptsTotal 20 minutes

Discussion: Meet and Greet10 minutes
Module 1 Discussion10 minutes

In this module, we will focus on China's fiscal and financial system reform.

What's included

7 videos2 readings1 assignment1 discussion prompt

7 videosTotal 59 minutes

2.1 Fiscal and Financial System Reform – An Introduction4 minutes
2.2 Fiscal Decentralization: Pros and Cons10 minutes
2.3 Reforming the Fiscal System8 minutes
2.4 The Soft Budget Constraint11 minutes
2.5 Reforming the Financial System13 minutes
2.6 Shadow Banking: Threat or Opportunity?10 minutes
2.7 Fiscal and Financial System Reform – Module Summary2 minutes

2 readingsTotal 20 minutes

Module 2 Course Reading10 minutes
Module 2 Lecture References10 minutes

1 assignmentTotal 30 minutes

Quiz 230 minutes

1 discussion promptTotal 10 minutes

Module 2 Discussion10 minutes

In this module, we will focus on China's trade and foreign direct investment. Apart from regular lectures, we will visit firms in China to understand the impact of foreign direct investment on them. We will also have interviews and discussions with leading scholars to provide greater insight into what is happening in the areas of China's outbound foreign direct investment and the internationalization of the Renminbi.

What's included

10 videos2 readings1 assignment1 discussion prompt

10 videosTotal 109 minutes

3.1 Globalization: Trade and Foreign Direct Investment – An Introduction5 minutes
3.2 International Trade: Performance and Policies14 minutes
3.3 Trade and Development16 minutes
3.4 Foreign Direct Investment16 minutes
3.5 Foreign Direct Investment – Firm Visits in China18 minutes
3.6 China’s Outbound Foreign Direct Investment6 minutes
3.7 China’s Outbound FDI – An Expert Discussion13 minutes
3.8 Internationalization of the Renminbi7 minutes
3.9 Internationalization of the Renminbi – An Expert Discussion9 minutes
3.10 Globalization: Trade and FDI – Module Summary4 minutes

2 readingsTotal 20 minutes

Module 3 Course Reading10 minutes
Module 3 Lecture References10 minutes

1 assignmentTotal 30 minutes

Quiz 330 minutes

1 discussion promptTotal 10 minutes

Module 3 Discussion10 minutes

In this module, we will focus on China's economic growth and structural change.

What's included

6 videos2 readings1 assignment1 discussion prompt

6 videosTotal 49 minutes

4.1 Economic Growth and Structural Change – An Introduction3 minutes
4.2 Sources of Growth10 minutes
4.3 Structural Change8 minutes
4.4 Resource Misallocation14 minutes
4.5 Productivity Growth11 minutes
4.6 Economic Growth and Structural Change – Module Summary3 minutes

2 readingsTotal 20 minutes

Module 4 Course Reading10 minutes
Module 4 Lecture References10 minutes

1 assignmentTotal 30 minutes

Quiz 430 minutes

1 discussion promptTotal 10 minutes

Module 4 Discussion10 minutes

In this module, we will focus on China's governance and current challenges. Apart from regular lectures, we will visit firms in China to understand the impact of rising wages on them.

What's included

9 videos2 readings1 assignment1 discussion prompt

9 videosTotal 83 minutes

5.1 Governance and Current Challenges – An Introduction3 minutes
5.2 China’s Governance Puzzle11 minutes
5.3 Incentivizing Local Leaders14 minutes
5.4 Economic Challenges11 minutes
5.5 Rebalancing Growth12 minutes
5.6 Challenge of Rising Wages9 minutes
5.7 Challenge of Rising Wages – Firm Visits in China13 minutes
5.8 Governance and Current Challenges – Module Summary3 minutes
5.9 Economic Reform and Growth in China – Conclusion6 minutes

2 readingsTotal 20 minutes

Module 5 Course Reading10 minutes
Module 5 Lecture References10 minutes

1 assignmentTotal 30 minutes

Quiz 530 minutes

1 discussion promptTotal 10 minutes

Module 5 Discussion10 minutes

Now is time to test your understanding on the entire course. Take the final exam and complete the post-course survey. Your valuable feedback will certainly help us improve future iterations of the course.

What's included

1 reading2 assignments

Instructor

Instructor ratings

(52 ratings)

Albert Park

The Hong Kong University of Science and Technology

1 Course13,172 learners

Offered by

The Hong Kong University of Science and Technology

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Reviewed on Aug 19, 2018

A great course for anyone interested in learning about China. You can expect your perceptions of China, along with the driving forces behind China's rapid transformation, to be challenged.

Reviewed on May 5, 2020

Full of information and different angles, theories, and explanation to understand the success of China's reforms. The professor interviewed experts and factory managers to understand the issues better

Reviewed on Sep 6, 2025

The history of the transition from a socialist economy to a more market economy was fascinating.

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