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The Chinese economic reform or Chinese economic miracle, [1] [2] also known domestically as reform and opening-up (Chinese: 改革开放; pinyin: Gǎigé kāifàng), refers to a variety of economic reforms termed "socialism with Chinese characteristics" and "socialist market economy" in the People's Republic of China (PRC) that began in the ...
The economy of the People's Republic of China is a developing mixed socialist market economy, incorporating industrial policies and strategic five-year plans. [29] China is the world's second largest economy by nominal GDP and since 2017 has been the world's largest economy when measured by purchasing power parity (PPP).
The economic history of China describes the changes and developments in China's economy from the founding of the People's Republic of China (PRC) in 1949 to the present day. The speed of China's transformation in this period from one of the poorest countries to one of the world's largest economies is unmatched in history.
The socialist market economy (SME) is the economic system and model of economic development employed in the People's Republic of China. The system is a market economy with the predominance of public ownership and state-owned enterprises. [1] The term "socialist market economy" was introduced by Jiang Zemin during the 14th National Congress of ...
(Bloomberg) -- Follow Bloomberg on LINE messenger for all the business news and analysis you need.Hong Kong lost its title as the world’s freest economy to Singapore for the first time since ...
The Beijing Consensus (Chinese: 北京共识) or China Model (Chinese: 中国模式), also known as the Chinese Economic Model, [1] is the political and economic policies of the People's Republic of China (PRC) [2] that began to be instituted by Hua Guofeng and Deng Xiaoping after Mao Zedong's death in 1976. The policies are thought to have ...
These changes not only benefited the Chinese economy but also integrated China into the world economy. In 1979 Chinese trade totaled US$27.7 billion - 6 percent of China's GNP but only 0.7 percent of total world trade. In 1985 Chinese foreign trade rose to US$70.8 billion, representing 20 percent of China's GNP and 2 percent of total world ...
Aug 11 (Reuters) - Goods made in Hong Kong for export to the United States will need to be labeled as made in China after Sept. 25, according to a U.S. government notice posted on Tuesday.