China’s rapid rise to become an ‘economic superpower’ has been based on international trade, foreign currency reserves and strong domestic growth. It appears to have managed the transition from a tightly government-controlled command economy, to a more open socialist market economy, better than other former command economies in Eastern Europe and other parts of the world. However, it is clear that the change in China is not yet complete, and policymakers continue to be confronted by political problems. Professor Ying Zhu will trace the transformation of the Chinese economy by drawing on the links between economic development and labour market issues. He will explore the meaning of a socialist market economy with ‘Chinese characteristics’ and will also discuss the evolution of the traditional social control mechanisms to those of civil society and the rule of law. This insightful Knowledge Works lecture is a not to be missed event for those conducting business or collaborating with Chinese organisations, or those simply seeking greater insight and understanding of Chinese business and its future.