Written while Gao was with the World Bank, this volume offers an insider's view of China's market reforms beginning in 1978 and the obstacles encountered in "crossing the river while feeling the stones". Covers achievements and experiences, the establishment of market systems, major ongoing reform areas, the impact of the recent Asian financial crisis, and China's new relationship with Hong Kong. A 155-page chronology of the major events of 1978-98 occupies the last section.