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  • Zhao Xiao (赵晓)
    Born : March , 1967Gender : Male

Professor and doctoral supervisor of School of economics and management, Beijing University of science and technology

Former head of Macro Strategy Department of SASAC Research Center

Member of Expert Committee of China economics award


Bachelor in economics, 1985-1989, Shandong University.

Master in economics, 1992-1995, Nankai University.

Ph.D in economics; 1996-1999, Peking University.


Postdoctoral researcher, China Economic Research Center, Peking University.

Special researcher of China Minsheng Research Institute.

Special researcher of China Institute of institutional reform.

Academic member of China economic reform research foundation.

Special researcher, international financial research center, Chinese Academy of social sciences.

Expert member of industry and Market Research Committee of China Real Estate Association.

Special researcher of Tianze Economic Research Institute.

Special researcher of Anbound Information Group.


Research project

Presided over the "national comprehensive reform pilot area" project of the National Natural Science Foundation of China;

Participate in the National Natural Science Foundation "deflation and anti deflation research" project;

Presided over research projects of the Ministry of commerce such as "the impact of RMB exchange rate on Sino US trade" and "the strategy of expanding domestic demand";

Presided over the topics of "core competitiveness of enterprises" project of Guangdong Nuclear Power Group and "RMB exchange rate fluctuation and risk prevention" project of China Construction Bank;

Participate in and preside over the project of "core competitiveness" of China Mobile Group.


China's financial industry outstanding contribution expert, 2007 (award)

China's real estate industry thought contributor, 2006 (award)

China young scholars in economics award, 2004 (Nomination)

Notable Works|Publications

Publication works


Complete market economy is shameless, CITIC press, 2004.

Beyond growth, Peking University Press, 2006.

Co authored

China's challenge: China after the Asian financial storm, CO authored with Yang Fan and Jiang Huiqin, petroleum industry press, 1998.

Asking China economist: a dialogue with China's top economists, Zhao Xiao, China Social Sciences Press, 2004.

Here comes the inflationary economy, CO authored with Chen Guanglei, Phoenix Press, 2010.


Asian financial crisis: China's challenge.

Macro policy adjustment and adherence to market orientation.

A study of China's deflation in 1998-2000.

Poor people are patriotic when they buy a house.

Who is lemon?

Enterprise growth strategy.

The true story of China's economic growth.

Translated works

The empty raincoat, by Charles Handy, China Press, 2000.

Firm growing theory, by Edith Penrose, Shanghai Sanlian bookstore, 2007.

Published thesis

His articles on financial and economic reviews were often published in famous media in China, and they were reprinted by Readers, the magazine with the largest circulation in China.

More than 300 articles have been published in core journals. They were in time to put forward and study deflation, hedge funds, China's financial crisis, the improvement of government efficiency and the authenticity of China's economic growth etc.

His article "market economy with church and market economy without church" was the first one in China's economic circles to compare different market economy from an ethical perspective and reflected the defects of China's economic transformation since the reform and opening up.

"Asian financial crisis: breakout, prescription and Outlook", Strategy and management, No. 4, 1998;

"Seeking effective policy mix under multiple economic objectives", Economic research, No. 4, 1998;

"What about monetary policy? What about fiscal policy? " Economic research, No. 10, 1998;

"Face up to the risk of deflation and adjust the micro mechanism", Economic research, 1999, No. 7;

"Debt to equity: theoretical and policy analysis based on governance structure", Economic research, 2000, No. 2;

"The story of China's economic growth", Financial circles, No. 5, 2002;

"Market economy with church and market economy without church", Ningbo economy, 2003, No. 2;

"Looking at development with ethics", Shandong Social Sciences, 2006, issue 6.

Main Opnions

With the rise of China, the eyes of the whole world were on China. Many people only paid attention to the changes in China's economy, and expected China to carry out social and even political changes widely. But in Dr. Zhao Xiao's view, the current change in China was essentially the change of the cross, while the economic and future social and political changes were only external manifestations.

Dr. Zhao Xiao cited the historical laws of the rise of Han and Tang Dynasties influenced by cultural changes to support his point of view. He pointed out that cultural integration and great change were the driving forces behind China's rise.

There have been two major cultural integrations in Chinese history. The first was the integration of Confucianism and Taoism in Han Dynasty, which supported the rise of the Han Dynasty; the second was that the Confucianism and Taoism culture in the Tang Dynasty absorbed the foreign Buddhism culture, which led to the emergence of Confucianism, Buddhism and Taoism culture.

Dr. Zhao Xiao regarded the cross revolution in China as the third cultural revolution and integration, and described it as "unprecedented". Not only that, Dr. Zhao Xiao also believed that the third cultural revolution and integration would have a more profound impact on China than the previous two, and would benefit the Chinese people more.

Dr. Zhao Xiao said that China had all the conditions for a great spiritual Renaissance in history. First of all, from an economic point of view, the development prospects of China's industrialization and urbanization were optimistic, providing a good environment for the development of the gospel; second, the Chinese people's pursuit of faith and justice has reached an unprecedented level.

In two sentences, Dr. Zhao Xiao sumed up the main contradictions that Chinese society was facing, which showed that the belief of Chinese people was in crisis. "The contradiction between the people's growing demand for fairness and justice and the government's lack of fairness and justice. The contradiction between the growing wisdom and ideas of the people and the declining morality. "

How could China solve the crisis of social morality and even human soul? Dr. Zhao Xiao believed that the only answer was the cross revolution.


The mainstream opinions of authoritative people and academic circles all emphasized the role of the market. In most cases, it was certainly right and extremely valuable. But it was not always the case in the economic crisis, because the market was actually irrational, investors always swing between fear and greed. China's economy has not collapsed, but its rich were running faster than rabbits, and the market was in a pessimistic atmosphere.

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