The 1985 Yangtze River Cruise Conference

The 1985 Yangtze Cruise Conference
On September 2, 1985, the Bashan Boat sailed out from Chaotianmen Dock in Chongqing, and the six-day “International Symposium on Macroeconomic Management” commenced. Upon the approval of the State Council, the conference was held in joint sponsorship with State Commission for Reconstructing Economic System, Chinese Academy of Social Sciences and World Bank, and attended by more than 60 prominent economists and government officials at home and abroad. As an important meeting at a critical juncture of the Chinese economic reform, this conference reached a consensus on many aspects of China’s economic transition and macroeconomic reform, giving impetus to the reform of Chinese economic system. It also provided pivotal theoretical foundations for the mechanism of “market regulated by the State, enterprises guided by market” introduced in 1987 and the concept of “socialist market economy” introduced in 1992. This meeting marked China's macroeconomics going global.