Prof. Feng Xingyuan Attended the Establishment Ceremony of the Institute for Law and Economics at Peking University & Symposium on Economics of Law and China and delivered a speech entitled "Fiscal Federalism: the Framework of Order for Local Government Competition? " on November 1st, 2010

In Prof. Feng's opinion, certain principles of the modified and extended fiscal federalism, the market-preserving federalism and the competitive political federalism should be applied to govern economic competition among local governments so as to maintain economic efficiency of the economic and fiscal system, and finally realize constitutional efficiency.