Zhang Weiying: China should abandon Keynesian policy in formulating policies

The means of administrative intervention price is actually the price control under the planned economy system. Return to Adam Smith's tradition, follow the Basic Law of market economy "financial" comprehensive report "the means of administrative intervention price is actually the price control under the planned economy system, policy formulation should give up the Keynesian of random intervention market, return to Adam Smith's tradition, follow the Basic Law of market economy,　　Zhang Weiying, dean of Guanghua School of Management, Peking University, said at the 2010 China Economic Theory Innovation Awards ceremony held at Renmin University.　　To bring the economy to 8%, Zhang Weixian said, we have to pay more than just the price of inflation, the cost of expanding the size of state-owned companies, and the cost of backsliding on institutional reforms.　　Zhang Weixian said that in the past year, China's economic stimulus, a large number of loans were left to state-owned enterprises, the state-owned enterprises themselves are not the driving force for innovation, the situation of sustained economic growth has great harm, rather than positive significance. Zhang Weiying said: Keynesianism only cares about the short term, not the long-term problem. If a short-term policy does not bring benefits to the country's long-term development, why should it still stick to such a policy? The only reason is political considerations.