Abstract: China's economy has witnessed a continuously rapid growth over the past 40 years of reform and opening-up since 1978,resulting from the inward marketization for releasing the economic vitality and outward opening to other countries for participating in the globalization more positively.Although the main trend of global development is still opening,cooperating and building win-win relationship,we should notice the uncertainty,taking the recently sprung-up new protectionism as an example.Apart from that,the U.S.,Japan and some European countries refused to consider China as a market economy although China became one of the formal WTO members in 2001.The U.S.launched a trade war against China,and took the non-market-oriented policies and practices of third countries as a main attacking point and put forward the need for “reforming”of the WTO.Therefore,assessing China marketization performance is important for the world to get a better understanding of the marketization in China,and for the Chinses policy-makers to have reference based on self-assessment to deepen reform.This paper assesses China Marketization Index(CMI)from 1978 to 2016 by five aspects:normalization of government action,liberation of economic entities,marketization of production factors,fairness of trade environment,and justification of financial parameters.We have found that CMI continually increased for the study period,scoring from 15.08 in 1978 to 86.50 in 2016(out of full score 100),which is approximately in concordance with the result from some global assessment authorities.However,the whole process of China's marketization is not balanced in the five aspects.The outstanding performance in liberation of economic entities and fairness of trade environment is a contrast to comparatively sluggish development in normalization of government action.The government financial burden keeps steady and grows slightly,which shows that the normalization of government action develops slowly.The growth in government financial burden is closely related to the basic situation of the Chinese characterized socialism,which requires increasing the expenditure,ensuring people's livelihood and reducing various disparity.The social capital will flow into more fields positively when Chinese economic society gets more balanced and coordinately.It is foreseeable that the governmentfiscal burden will decrease obviously and the government action will be more normalized.

Key words: marketization, marketization reform, the status of market economy in China, Marketization Index