Core Insights - The report titled "New Era County Economics" was released by the Xinhua News Agency's National High-end Think Tank during the 2025 "Belt and Road" International Think Tank Cooperation Forum in Nanjing, Jiangsu [4] - It emphasizes the importance of county-level economies as foundational units of Chinese modernization, exploring how these economies can achieve high-quality development under the guidance of Xi Jinping's economic thought [4] - The report highlights China's nearly 3,000-year-old tradition of county governance, asserting that counties serve as crucial hubs connecting urban and rural areas, as well as bridging different administrative levels [4] Summary by Sections - **Guiding Principles**: The report is guided by Marxist political economy and incorporates knowledge from regional economics, development economics, and urban economics, creating a unique and relatively complete knowledge system based on China's county economic development practices [4] - **Economic Models**: It identifies various successful development models in counties, including traditional industry upgrades, emerging industry tracks, agricultural industrialization, ecological value transformation, cultural tourism integration, and East-West cooperation [4] - **Strategic Importance**: The report posits that the vitality of counties directly influences the prosperity of cities, provinces, and the strength of the nation, indicating that understanding county economics is essential to grasping China's development miracle [4] - **Future Outlook**: As a key focus during the 14th Five-Year Plan period, the high-quality development of county economies is expected to propel China towards becoming a modernized strong nation [4]

Core Points - The 52nd Eurasia Business and Economics Society (EBES) conference will be held in Istanbul, Turkey from July 3-5, 2025, where Professor Lin Yifu from Peking University will receive the EBES Fellow Award for his outstanding contributions in development economics, agricultural economics, and economic transformation research, marking the first time this award is given to a Chinese scholar in its ten-year history [1][2] - The EBES, established in 2008, is an international academic organization aimed at promoting research in economics and business, with over 2,500 members from more than 80 countries, including academia, government, business, and non-profit sectors [1] - The EBES Fellow Award, established in 2015, is the highest honor of the society, awarded annually to a scholar who has made lifelong outstanding contributions in economics and business research, selected based on rigorous academic achievements [2] Summary of Lin Yifu's Speech - During the conference, Lin Yifu delivered a keynote speech titled "What Drives Development Success? New Institutional Economics Meets New Structural Economics," comparing the perspectives of new institutional economics and new structural economics [5] - Lin criticized the institutional hypothesis proposed by Nobel laureates Acemoglu, Johnson, and Robinson, stating it failed empirical testing and had issues with empirical data and historical evidence [5] - From the perspective of new structural economics, the success or failure of a country's development hinges on whether its government chooses a development strategy that aligns with its endowment structure and comparative advantage [5] - The hypothesis of new structural economics is supported by empirical testing of cross-country data from 1960 to 2023, suggesting that every country has the opportunity for dynamic growth if it can identify and strengthen its advantageous industries with government support [5]