About the Book

[The Founding Manifesto of “Mezzoeconomics”: An Insider’s Theory of China’s Growth] Why has China’s economy sustained decades of rapid growth? The answer lies not just in the “Invisible Hand” of the market or the “Visible Hand” of the State, but in a powerful middle ground: The Effective Government.

Authored by Chen Yunxian, the founder of GF Securities and former Vice Governor of Guangdong Province, this book bridges the gap between theory and practice. Chen introduces the groundbreaking concept of “Mezzoeconomics,” arguing that in China, regional governments act as “market entities” that compete, innovate, and drive resource allocation.

Key contributions to economic theory are as follows:

• Beyond Keynes and Hayek: Proposes a “Dual Entity” model where both the government and the market play decisive roles in resource allocation.
• The “Code of Conduct” for governments: Defines the precise boundaries of government intervention—when to lead (foresighted leading) and when to step back.
• Practitioner’s insight: Draws on Chen’s unique experience governing Guangdong, China’s economic powerhouse, offering a blueprint for Regional Competition and Urban Development

About the Author

Chen Yunxian, PhD, is a globally recognized economist, statesman, and a pioneering figure in China’s financial modernization. He holds the unique distinction of having excelled in three interconnected spheres: as the founder and first chairman of GF Securities, one of China’s largest investment banks; as a senior policymaker who served as the Vice Governor of Guangdong Province; and as a transformative economic theorist.

Dr. Chen is the founder of “Mezzoeconomics,” a groundbreaking framework bridging the gap between micro- and macroeconomics. His research examines the dual roles of government and market in regional competition and resource allocation. A prolific scholar in both Chinese and English, he has significantly influenced discourse on regional development, financial innovation, and urban governance. Dr. Chen’s experience as a market practitioner and high-ranking administrator provides an authoritative voice on the mechanics of China’s economic growth.