The 72nd Xi Xian Forum, co-hosted by the Center for International Cooperation and Disciplinary Innovation of Income Distribution and Public Finance at the Zhongnan University of Economics and Law (ZUEL) and the university's School of Public Finance and Taxation, was successfully held on March 27, 2025, in Wenqin Building's Conference Room 119. Professor Lin Muxi, a senior professor at Liaoning University and Director of the National Economic Research Institute, delivered a keynote speech on the topic of innovation in China’s macroeconomic governance system. The forum was chaired by Professor Lu Yuanping, Executive Director of the Center for International Cooperation and Disciplinary Innovation of Income Distribution and Public Finance, and attended by over 30 faculty members and researchers, including research fellow Dr. Liu Erpeng, Dr. Wan Qian, Dr. Gao Sihan, Dr. Lin Jiada, and Dr. Zou Jianwen.
Professor Lin Muxi pointed out in his speech that to build a macroeconomic governance system with Chinese characteristics, it is necessary to effectively integrate the theoretical foundation of Marxist political economy, analytical tools of modern economics and the guiding role of Xi Jinping’s thought on the economy. He further noted that China’s current macroeconomic governance is shifting from traditional regulation to institutional construction, and emphasized the need to examine the leadership of the Communist Party of China as a core institutional strength within the framework of institutional economics. Professor Lin systematically outlined four major shifts in governance logic: shifting the focus of governance from supply-side reform to collaborative drivers of consumption and income; transitioning the source of growth momentum from scale aggregation to service consumption cultivation; moving the regulatory framework from demand management to dynamic balance of supply and demand; and transforming the implementation approach from short-term stimulus to institutional reform. Through a comparative analysis of the 1988 price reform and the current real estate expectations, Professor Lin delved into the strategic significance of the 2024 Central Economic Work Conference’s call for "stabilizing expectations and boosting confidence" in addressing modern governance challenges.
Professor Lin also addressed the issue of policy coordination in macroeconomic governance. By examining the evolution of the policy system from the 2015 to 2024 Central Economic Work Conferences, he found that China’s policy framework has evolved from the "Five Pillars" to the current "Eight Policies + Reform Measures." Using the successful example of the rural contract system reform, Professor Lin demonstrated how institutional innovation can significantly improve governance outcomes. He further pointed out that current practices, such as deepening market-oriented reforms and building a unified national market, are paving a new path for macroeconomic governance. This path seeks to enhance "total factor productivity" through "institutional supply," thereby achieving a shift in growth drivers.
Professor Lin’s insightful lecture not only captivated the audience, but also inspired deep reflection among faculty and students on the topic of macroeconomic governance. During the discussion session, participants actively engaged in a lively exchange of ideas on issues such as local government debt resolution and the pathways to new urbanization.
Guest Profile
Professor Lin Muxi is a senior professor at Liaoning University and the Director of the National Economic Research Institute. Professor Lin is a Special-Term Professor under the National Talents Projects, Leader of the National Talents Projects, Winner of the National Famous Teacher Award, First Cohort of Famous Teachers of the National Talents Projects, National Model Teacher, Head of the First Cohort of Huang Danian-style Teaching Teams in Chinese Universities, Recipient of the Special Government Allowance of the State Council, Member of the 6th and 7th Academic Appraisal Panel for Applied Economics under the Academic Degrees Committee of the State Council, Discipline Expert of the Philosophy and Social Sciences Expert Committee (Marxist Theory Research and Development Project) under The National Textbook Committee, Expert Reviewer for the Academic Planning and Evaluation Panel of the National Social Science Fund of China, Chief Expert of a Major Research Project on Philosophy and Social Sciences Sponsored by the Ministry of Education, Winner of the National Teaching Achievement Award, Winner of the Outstanding Achievement Award for Scientific Research in Humanities and Social Sciences in Higher Education Institutions. Professor Lin has long been engaged in teaching and research in national economics, regional economics, and political economy. He has produced a substantial body of research on transformation and revitalization of Northeast China’s old industrial base, making important contributions to major national strategies and regional development needs.