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On August 5, 2008, Watson-economist, president of Beijing Normal University, Zhuhai Branch, president of Yanjing Huaqiao University-Liu Shan, deputy editor-in-chief of China Business Times and host of doctor of economics: Hello everyone, this is a 30-person talk show of Sohu's 30 years of reform. I am the host of today, Liu Shan, deputy editor-in-chief of Business Times. Today, our guest is the economist Professor Watson. Let me briefly introduce Professor Watson first. Professor Watson is now the president of Beijing Normal University, Zhuhai. He is also the vice president of China Overseas Chinese Chamber of Commerce, a member of Beijing CPPCC, an adjunct professor at the Graduate School of Chinese Academy of Social Sciences, Southeast University, a professor at Beijing Normal University and Wuhan University, and a doctoral supervisor. In the past 30 years, Professor Watson has undergone a major reform process. In the three institutional changes of China's economic system reform, Professor Watson is the main theoretical proposer and promoter. These three institutional reforms include the price dual-track system, the responsibility system for asset management and the reform of non-tradable shares. First of all, please ask Professor Hua to say hello to everyone. Watson: Good afternoon, everyone. The first part "dual track system" is the inevitable choice for a smooth economic transition. Liu Shan: As we all know, in the 1980s, China experienced a major system reform, called the price dual-track system, which should be inherited from China. ...