Organized by Global Research Unit, Department of Economics & Finance, City University of Hong Kong, Bank of Finland Institute for Economies in Transition (BOFIT), and Gabelli School of Business, Fordham University

The reform and opening-up policy initiated by Deng Xiaoping in 1978 has created China's economic miracle. In the last four decades, China has been experiencing phenomenal economic growth, restructuring its economic structure, and liberalizing its financial markets. Despite its significant achievements, the reform and opening up path is not free of hurdles and impediments. For instance, there are concerns about China's commitment on reform in view of capital controls and policy uncertainties that surfaced following the summer 2015 market turmoil.

In the 40th anniversary year, it is a good time to take stock of the accomplishments of China's reform policy, and assess its future prospects. The conference focuses on financial reform, and provides a platform for evaluating and discussing China's financial liberalization, integration with the global financial markets, and the related implications for the global economy. Possible topics include, but are not limited to, the following:

  • China's liberalization of financial markets
  • China's foreign exchange policy
  • Opening Chinese financial markets to the world
  • The renminbi and global monetary system
  • The Belt and Road Initiative
  • China's corporate reform and performance
  • Alternative financial intermediation
  • Ownership structure and firm behavior in capital markets.

Keynote speakers:

  • Lawrence J. Lau (The Chinese University of Hong Kong)
  • Gérard Roland (University of California – Berkeley)
  • Shang-Jin Wei (Columbia University)

Those interested in presenting at the conference should send a completed paper or an extended abstract in WORD or PDF format via email to gruhkg(at) by 22 August 2018. Authors of accepted papers will be notified by 15 September 2018. Final versions of the accepted papers will be posted on the conference website. Selected conference papers will be invited to be considered for publication in a special issue of the Comparative Economic Studies
(September 2019). Accepted presenters may apply for financial support to cover economy class airfare and local accommodation expenses.

For enquiries, please contact

Yin-Wong Cheung: yicheung(at)
Iikka Korhonen: iikka.korhonen(at)
Iftekhar Hasan: ihasan(at)