The Summit—Business Cycle and Transformation of China’s Economic Growth (2011) was held in Ningbo University September 17, 2011. The summit was organized by two subsidiaries of Ningbo University: Regional Economic Research Institute and School of Business as well as the Editorial Department of Economic Research Journal , CASS.

2011 is the opening year of the “Twelfth Five Years” plan, and our country is faced with an extraordinary complicated developing situation. The world economy is recovering but in a slow way, the developed economic entities have run out of its growing strength, the unemployment rate is still on its top, the hidden danger of sovereign-debt crisis hasn’t vanished yet, the global liquidity spreads, the major international commodities’ price and exchange rates of major currencies fluctuate fiercely and bubbles and inflation pressure of the emerging markets are expanding. To make a promising start in such a queasy environment is of great importance. We are stuck domestic and abroad. Uncertainties and risky factors are outside our country. US’ quantitative easing monetary policy and European’s debt crisis put pressure on our economy, while we are now at a crucial state of the domestic economic structure transformation with key problems hard to cope with. The hard situation described above makes us have no choice but to think deeply so as to make scientific, systematic and comprehensive judgments. So, holding the summit would be a timely and necessary action to let the wisdom sparkle in the clash of ideas, to encourage an amount of excellent papers, and to form an efficient research group in this field.

It is honored to have this summit here in Ningbo University. It expands the influence of Ningbo University and the School of Business as well as makes the experts and study groups get closer to the top experts and institutions. Secondly, the team of economics discipline, especially the Cycle Theory scholars from our university, would have their influences, status and the right to speak significantly increased. Thirdly, this meeting would also broaden the faculty’s horizon, lead the research direction and improve the academic atmosphere.

Many guests gathered here, they are: researcher and deputy Minister Li Jianwei from Ministry of Social Development, State Council Development Research Center; the deputy editor of Economic Research Journal as well as the director of editorial department, Professor Wang Cheng; Dean of School of Economics of Capital Economical Trade University, Professor Zhang Liancheng; Professor Chen Kunting occupied in Institute of Business of Ningbo University; Professor of School of Economics and Business Administration of Beijing Normal University; vice-president from the Information and Statistics Institute of Renmin University of China, Professor Long Yonghong; Professor Zhang Dingsheng, the vice president , and Associate Professor