Later Years
In 1978 Ma Hong's career rebounded and he founded the Industrial Economic Institute, becoming its director. He then became the president of the Chinese Academy of Social Sciences and Deputy General Secretary of the State Consul of the People's Republic of China. In 1984, at his suggestion, "the notion of a socialistic commercial economy was written into the CPC's list of doctrines." Ma Hong founded the State Council Development Research Centre, the first of its kind. Late in his career he warned the government of impending inflation, but the government chose to ignore his advice to its detriment.
Ma Hong has published more than 10 books in Chinese; New Strategy of Chinese Economic Development has been translated and edited by Fengbo Zhang and was published in Japan in 1985. His writings have been widely publicized, and in 2005 he won the Outstanding Economist Prize. On October 28, 2007, he died of Parkinson's disease.
Read more about this topic: Ma Hong
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