This project was undertaken under the auspices of Central Leading Group on Finance and Economics and the NDRC, as a follow-up study to the previous project on “Medium and Long Term Development and Transformation of the Chinese Economy: An International Perspective”. The study was led by Edwin Lim, Michael Spence and Adrian Wood, and involved dialogues with over 40 Chinese government officials and Chinese and international specialists. The topics covered included state-owned enterprise reform, income distribution, fiscal and taxation reform, public governance, law, and competition policy and market segmentation. The summary report and the final research reports were submitted to the relevant government departments for their reference.