AGI Lecture: Where is China going?

In this lecture, Hsieh explored the complexity of China's economic development, focusing on several key themes. The lecture discussed the balance between Communist Party control and corporate market power, with Hsieh emphasizing that this balance between the Party and businesses is a feature of China's economic development. Using the case of PingAn Group's stakeholder structure, he analyzed how Chinese companies balance Party control and market freedom. He pointed out that large Chinese enterprises, in pursuing market opportunities and profitability, often need to align with the Party's policies and goals, reflecting the relationship between the communist party and big businesses. Furthermore, Hsieh pointed out the opportunities faced by China's small and medium-sized enterprises (SMEs). Compared to large companies, SMEs have less market power to threaten Communist Party control, which results in less government interference in their operations. This gives SMEs more room to grow. As China’s economy continues to transform, especially in the context of global geopolitical tensions, how to balance Party control with corporate operation and how to grasp opportunities for SMEs will become crucial issues in China's future economic policies.