This third English volume of "The China Economy Yearbook," based on the 2008 annual report in Chinese, provides an in-depth analysis of China s economy during 2007 and predictions for 2008. Written by leading economic researchers from China s premier economic research institutions, the articles in the yearbook examine key aspects of China s economic performance, including the capital goods market, agricultural output, monetary policy, tax revenue, and sustainable growth metrics. They provide a detailed description of China s economy and valuable insights into the reasons for China s successes and failures in addressing emerging challenges facing the Chinese economy.

Top Priority Must be Given to the "Dual Prevents" in Ongoing Macroeconomic Control Initiatives Chen Jiagui China's Economic Situation: Analysis and Forecast, 2007-2008 China's Economic Situation Analysis and Forecast Project Group, CASS China's Great Virtuous Cycle of Cyclical Economic Fluctuations Liu Shucheng China's Macroeconomic Situation and Policies: 2007-2008 School of Economics, Renmin University of China Analysis and Forecast of the Economic Climate and Price Situation, 2007-2008 Chen Lei, Liang Yunfang, Qiu Sheng'e Establishing a Long-acting Mechanism for Increasing Agricultural Output and Farmers' Incomes Zhang Xiaoshan Analysis of Industrial Enterprises' Earning Performance Jin Bei, Li Gang Analysis of China's Capital Goods Market in 2007 and its Prospects in 2008 Chen Kexin, Chen Zongqun Analysis of China's Financial Situation and Monetary Policy in 2007 Li Yang, Peng Xingyun Currency Operations under the Dual Pressures of Accelerated Economic Growth and Price Inflation Wang Yi, Zhang Lisheng, Chen Hao Analytical Prediction of China's Tax Revenue and Economic Operations in the Near Future Zhang Peisen Review of the Shanghai Stock Exchange in 2007 and Its Prospects for 2008 Wu Qian, Zhu Pingfang Analysis of China's Trade in 2007 and Prospects for 2008 Pei Changhong, Peng Lei Foreign Capital, 2007-2008: Stabilising Expectations, Expanding Scale, and Structural Improvements Jiang Xiaojuan Employment Expansion, Improvement of Distribution, and Sustainable Growth Cai Fang Analysis of Trends in China's Fast-growing Economy and Energy Conservation and Emission Reduction Targets Qi Jianguo The Development of and Prospects for Beijing's Olympic Economy Cai Bing Analysis of the Real Estate Market in 2007 and Projections for 2008 Pu Zhan How to Look at China's Current Price Situation Zhao Jingxing Appendix: Statistics Shen Lisheng