This course aims at fostering an understanding of two major aspects of China’s economic development since 1978: (1) the basic features and impacts of expanding foreign trade under the open policy; and (2) the functions and the administration of money and finance in an increasingly liberalized and decentralized environment. After a brief historical review of major stages, achievements, and remaining problems in both aspects, reform and policy options will be discussed, and the opportunities as well as challenges from a business perspective will be examined.