This book explains why the China’s opening-up policy can boost the high-speed growth of China’s economy. Based on the facts and economic logic, it gives the brief introduction of the history that the successful development of China unprecedentedly helped improve the people’s life and community welfare in the past 30 years. Because of the newly emerged problems, judgments about different stages of economic development and new challenges of China are made by Prof. Cai.

CAI Fang, born in 1956, graduated from Renmin University and Graduate School of Chinese Academy of Social Sciences(CASS). He holds Ph.D. degree in Economics. Currently he serves as Member of Standing Committee and Member of Agricultural and Rural Committee of National People’s Congress of China. Fellow of CASS and Vice President of CASS. He is also Member of Advisory Committee of National Planning, and Member of Global Agenda Council on Aging.