Video, | 07/10/2025 : Party and Capital in China

Since the Communist Party of China introduced the Reform and Opening Up period in the late 1970s, the economy of the People’s Republic has been radically transformed from a largely top-down, Soviet-style command economy to an infinitely complex and dynamic socialist market system combining elements of long-term planning with conventional market activity. And yet, unlike capitalist countries, in China, capital remains at the service of the state, rather than the other way around. In this interview, Feng Zhixuan of the Economics and Management School at Wuhan University explains how the Communist Party harnesses private capital to realize its vision of socialist development.