Editorial: Look to Modern Economic Theories for Ways to Deepen Reform

Efforts to push forward reforms at this critical moment in China's development trajectory must be guided by sound theories. And this is why awarding the first-ever China Economic Award to two eminent economists — Qian Yingyi, president of the School of Economics and Management at Tsinghua University, and Xu Chenggang, a professor of economics at the Cheung Kong Graduate School of Business in Beijing — has been welcomed by many. Both Qian and Xu have been recognized by the National Economics Foundation, a non-governmental think tank, for their work in understanding how governments and enterprises can be motivated to reform.