Scholar Says State Capitalism Not Source of China's Success

(Beijing) – China owes its miraculous development to the government's adherence to market principles rather than state capitalism, said a leading scholar from the nation's top policy think tank organization.

What the Chinese government did to prevent the market from collapsing in the financial crisis cannot be interpreted as an example of state capitalism; nor can it account for the achievements China obtained in the last three decades, said Liu He, deputy director of the Development Research Center of the State Council, in a forum held in Beijing on March 17.