The International Economic Exchange Center of the Chinese Communist Party, also known as the National Economic Center, once touted as a “super think tank,” saw its supervising unit change from the CCP’s National Development and Reform Commission to the Chinese Academy of Social Sciences last month. Reports indicate that the center has been purged due to financial issues, and its former status as a so-called “super think tank” is no more.
According to previous reports by The Paper, the business supervising unit of the CCP’s National Economic Center has recently been changed from the CCP’s National Development and Reform Commission to the Chinese Academy of Social Sciences.
On January 17th of this year, the Chinese Academy of Social Sciences held a working symposium for the China International Economic Exchange Center in Beijing, discussing the overall transition of the National Economic Center to the Chinese Academy of Social Sciences and emphasizing the need to “strictly enforce discipline and regulations.”
An article by Caixin on February 14th revealed that the recent change in the supervising unit of the National Economic Center may be related to potential controversies arising from the center’s past years of acquiring funding through undertaking projects for local governments and providing consultancy services.
The National Economic Center was once seen as the CCP’s “super think tank,” setting up a research fund with membership fees totaling 500 million yuan. These funds were sourced from central state-owned enterprises and state-owned enterprises. Insiders say that the National Economic Center established the National Economic Consultation Limited Company, which “takes on projects externally, with local governments providing funding on a large scale.”
Reports suggest that some retired senior officials who worked at the National Economic Center have already repaid the fees they received, with some instances involving significant amounts. Insiders revealed that some provincial and ministerial-level leaders at the National Economic Center, who are subordinate to central authorities, may also be in situations that no longer comply with current regulations.
Public records show that the National Economic Center was founded in 2008, the year following the global financial crisis, with former Chinese Vice Premier Zeng Peiyan as its founder. The vice-chairmen and executive directors of the center include a large number of retired senior officials.
Zeng Peiyan served as the chairman of the National Economic Center for a long time until March 2024 when Bi Jingquan took over as chairman. Bi Jingquan previously worked at the original CCP National Planning Commission and the Development and Reform Commission. From February 2015 to March 2018, he served as the director of the State Administration for Market Regulation. In August 2018, due to the Changsheng Biotechnology vaccine scandal, Bi Jingquan resigned from his position as Secretary of the Party Committee of the State Administration for Market Regulation. In August 2020, Bi Jingquan was appointed as a member of the 13th National Committee of the Chinese People’s Political Consultative Conference and Deputy Director of the Economic Committee. In December of the same year, he also concurrently held the position of Executive Vice Chairman of the National Economic Center, and in March 2024, he became the chairman of the National Economic Center.
In May 2025, Bi Jingquan was investigated. Subsequently, the position of chairman of the National Economic Center remained vacant.