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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 ...
SINGAPORE (Reuters) - Global investors who have historically bet on China's economic development are ditching grand narratives of long-term prosperity and instead adopting more modest views that ...
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 ...
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).
[16]: 200 In March 1986, the State Council submitted "The 7th Five Year Plan for National Economic and Social Development of the People's Republic of China, 1986–1990" to the Fourth Session of the Sixth National People's Congress for review and ratification. It was the first time in China's history that an all-round plan for social and ...
After 100 years of economic decline up until the late twentieth century until the Deng Xiaoping economic reforms, China's GDP grew 10 percent per year from 1978 until 2000 and tripled between 2000 and 2010. China's rise in the global economy catapulted the Middle Kingdom into East Asia's largest economy, overtaking Japan as the world's second ...
By year's end, China's economic output will reach $17.6 trillion – the U.S. will slide down to second with a mere $17.4 trillion. Just over a decade ago, in 2000, ...