Foreword/Lin yifu Research Anew on Distribution of Individual Income in China/Li Shi.Zhao Renwei Rural Labour Flow in China and Income Growth and Distribution/Li Shi Income Transfer and Income Inequality amongst Regions-Japan’s Experience/Yue Ximing The Foundation of Property Rights on Which Perverse Competition Is Based/Zhang Weiying , Ma Jie Institutional Transition and Industrial Development:a Research in a Number of Industries/Jiang Xiaojuan Behaviour of the Government,Effect of Interest Rate ,and IS-LM Model in China/Zhang Fan On“Comprehensive National Debt” How to Manage Hidden Doubtful and Bad Debts/Fan Gang Breaking the Vicious Circle of Deflation-A New Challenge in the Development of China’s Economy/Yu Yongding Trade,Capital Flow and Exchange Rate Policy/Task Force of Macroeconomy,CASS On China’s Aggregate Supply Function Allowing for the Expectation and Future Demand/Zheng Chaoyu An Estimation of China’s Average Rate of Profits/Tang Zhihong Case Studies on the Current System of Rural Land Adjustment/Gong Qisheng,Zhou Feizhou Political Economics in Cooperative and Uncooperative Behaviour-Development Stages and Peasants ’ Community/Chai Fang Competitive Duration Implied in the Ratio of Price to Earnings/Zhu Wuxiang.Deng Haifeng Determinant Factors as to Managerial Ethic Risk in State Owned Enterprises/Yan Wei