wahson

wahson

Watson, male, born in 1953 in Yangzhou, Jiangsu Province, is a famous economist. In 1986, he was awarded the first batch of "national experts with outstanding contributions".

At present, he is the president of Zhuhai branch of Beijing Normal University, vice president of the Chinese Chamber of Commerce of the Federation of overseas Chinese of China, vice chairman of the Federation of overseas Chinese of Beijing, member of the Beijing Municipal Committee of the Chinese people's Political Consultative Conference, President of Yanjing overseas Chinese University (also known as the overseas Chinese College of Capital University of economics and trade), professor and doctoral supervisor of the Graduate School of the Chinese Academy of Social Sciences, Southeast University and Wuhan University.

Biography of characters

He graduated from junior high school in 1967. The next year, he went to the countryside in Huai'an, Northern Jiangsu Province. Five years later, he worked in a local factory and was once the workshop director.

From 1978 to 1982, he majored in political economy in Nanjing Institute of Technology (now Southeast University) and obtained a bachelor's degree.

From 1982 to 1985, he studied in the Department of finance of the Graduate School of the Chinese Academy of Social Sciences and obtained a master's degree.

He began to work in the Institute of economics, Chinese Academy of Social Sciences in 1985 as director of the Research Office of microeconomics and member of the all China Youth Federation. He also participated in the work of the office of the leading group for economic restructuring of the State Council. After that, he studied with Dong Fureng, a famous economist, and obtained a doctorate in economics from Wuhan University.

In January 1987, he went to Oxford University to study,

From 1991 to 1995, he was employed to teach in Cambridge University. During this period, the British embassies were set up to guide Chinese enterprises to study abroad,

After returning to China in the mid-1990s, he became the chairman of Oxford Cambridge International Hi Tech Co., Ltd. which was approved by the former State Education Commission. In recent years, he has been engaged in teaching and research.

Main achievements

Watson is the main proponent and promoter of three important institutional changes (price double track system, asset management responsibility system, and split share structure reform) that affect the process of China's economic reform. In 1984, at the first national conference of young and middle-aged economic scientists, he became famous because he and his colleagues put forward the idea of price double track reform, which was combined with price adjustment. The double track system of price was formally implemented in 1985. By 1992, China had basically completed the transition to market price by the double track system of combination of release and adjustment.

In 1985, the research team headed by Watson put forward that the core of enterprise reform is to start with the property right relationship, distinguish the government's public management function from the asset owner's function, set up the State-owned Assets Management Bureau, establish an independent state-owned assets management system, separate government assets from government enterprises, as the responsible person of state-owned assets, compete for enterprise managers, and implement the asset management responsibility system Six years after the special report to the State Council, we organized the pilot work in Changchun, Wuhan, Nanjing, Chongqing and other places. In 1988, the state established the State-owned Assets Management Bureau for the first time. In 1995, the former State Economic and Trade Commission and the Ministry of Labor issued the "Interim Measures for the responsibility system of state-owned enterprise assets management". In 2003, the central government decided to set up the State-owned Assets Management Commission, and the state-owned assets management system was formally established throughout the country, marking that the reform of state-owned enterprises, as the central link of economic reform, has entered the stage of state-owned assets management and reform.

In February 1998, Watson published an article in China's authoritative economic theory journal economic research, which first proposed the reform of A-share ownership and non tradable share structure. He believed that there was an increasing institutional risk behind the apparent prosperity of China's stock market, and it was necessary to correct the institutional defects of the unclear property rights relationship between tradable shares and non tradable shares as soon as possible, including the use of redemption of tradable rights to restore non tradable shares Re circulation. At the beginning of 2005, after the central government decided to start the reform of non tradable shares, Watson published long papers on the front page of China Securities Journal five times in each main stage of the reform, which became the authoritative theoretical voice to promote the reform of non tradable shares. Under the organization of China Securities Association, after more than two years of efforts, the reform of non tradable shares has been a complete success, and China's securities market has begun to become a barometer of the national economy.

On July 1, 2001, when the stock market was close to the highest point, Watson published the article "signal of a long bear market", which accurately predicted the coming of a long-term bear market; on May 10, 2005, when the stock index was approaching 1000 points, Watson published the article "signal of a market turning point", which asserted that the bear market was dying and the market was about to turn to the bottom; on May 10, 2006, on the occasion of the first anniversary of the stock reform, Watson published the article "welcome the stock market" The article "the new era of the market" foretells the arrival of the new era of the stock market. After May 10, 2007, he successively published such articles as "signals of market overheating" and "warnings and puffiness of market value far exceeding GDP", which foresee the long-term adjustment of the market. Therefore, he is widely regarded as one of the most influential economists in China's securities market.

Honors

Watson has won Sun Yefang's economics award, the first prize of excellent thesis of central government organs, and has written English monograph and economic thinking of China's stock market published by Macmillan company.

In 2011, he won the China Economic Theory Innovation Award.

In December 2018, he was employed as one of the first batch of senior professors of Humanities and Social Sciences in Southeast University.

Character evaluation

Professor Watson is the proposer and promoter of three important changes that affect the process of China's economic reform, namely, the price double track system, the asset management responsibility system, and the reform of non tradable shares.

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