This book is unique in covering all important topics of the Chinese economy in depth but written in a language understandable to the layman and yet challenging to the expert. Beginning with entrepreneurship that propels the dynamic economic changes in China today, the book is organized into four broad parts to discuss China's economic development, to analyze significant economic issues, to recommend economic policies and to comment on the timely economic issues in the American economy for comparison.

Unlike a textbook, the discussion is original and thought-provoking. It is written by a most distinguished economist who has studied the Chinese economy for thirty years, after making breathtaking contributions to the fields of econometrics, applied economics and dynamic economics and serving as a major adviser to the government of Taiwan during its period of rapid development in the 1960s and 1970s. In the last thirty years, the author has served as a major adviser to the government of China on economic reform and important economic policies and cooperated with the Ministry of Education to introduce and promote the development of modern economics in China, including training hundreds of economists in China and placing many graduate students to pursue a doctoral degrees in economics in leading universities in the US and Canada. These graduates now plays pivotal roles in China and in the US in academics, business or government institutions. The essays, a culmination of the author's expertise in China over five decades, are being widely read in China. When the author became professor emeritus at Princeton, the University named the Econometric Research Program as the Gregory C Chow Econometric Research Program in his honor.

Gregory C Chow is Professor of Economics and Class of 1913 Professor of Political Economy, Emeritus, at Princeton University. Educated at Cornell University and the University of Chicago, Prof Chow is a member of the American Philosophical Society and of Academia Sinica and a Fellow of the American Statistical Association and of the Econometric Society. He is the author of 14 books and over 200 articles, specializing in econometrics, dynamic economics, and the Chinese economy, with which he has a long-standing involvement. Prof Chow has served on several committees on Sino American economic exchanges and has been an adviser to government figures and institutions in China and Taiwan. He is recognized for his contributions to developing and modernizing economics education in China, where he holds honorary posts at nine universities.