China Economics Award is established by both China Society of Macroeconomics and China Economic Structure Reform Committee. The purpose is, by awarding the Chinese scholars who have made great contribution in the fields of economic theories, policy and research methods, to promote the prosperity of Chinese economic theories, upgrade the level of making policy, spread the basic knowledge in the economic field and make the contribution to the healthy development of Chinese Economy.

China Economics Award is presently the only personal economic award in China for their long achievement. The recommendation and the ballot is carried on for the reference of Nobel Prize. It is called Chinese "Nobel Economic Award".

The highest authority of China Economics Award is the Management Committee of China Economics Award, it is also called Macrochina Economists 100, which is composed by more than 130 first experts, including Xiang Huaicheng, Wei Liqun, Zhou Xiaochuan, Liu Guoguang, Wu Jinglian, Fan Gang, Hu Angang, Mao Yushi, etc. The experts are mainly from the research departments of Policy Research Office of State Council, National Development and Reform Commission, Ministry of Commerce, Ministry of Finance, the People's Bank of China, Chinese Academy of Social Science, Development Research Center of State Council, National Bureau of Statistics of China, Peking University, Tsinghua University, Renming University of China and other colleges and universities, etc.