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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 ...
[1] [2] [3] The Four Modernizations were adopted as a means of rejuvenating China's economy in 1977, following the death of Mao Zedong, and later were among the defining features of Deng Xiaoping's tenure as the paramount leader of China. At the beginning of "Reform and Opening-up", Deng further proposed the idea of "xiaokang" or "Moderately ...
The conference marked the beginning of the Reform and Opening Up policy, and is widely seen as the moment when Deng Xiaoping became paramount leader of China replacing Chairman Hua Guofeng, who remained nominal Chairman of the Chinese Communist Party until 1981.
Since the Reform and Opening Up period, China has evolved into a backbone of the world economy. [2] China has been the fastest growing economy in the world since the 1980s, with an average annual growth rate of 10% from 1978 to 2005, based on government statistics. Its GDP reached US$2.286 trillion in 2005. [3]
The Four Cardinal Principles (Chinese: 四项基本原则; pinyin: Sì-xiàng Jīběn Yuánzé) were stated by Deng Xiaoping in March 1979 at the CCP Theory Conference, during the early phase of Reform and Opening-up, and are the four issues for which debate was not allowed within the People's Republic of China.
The term dates back to 1979, when Chinese leader Deng Xiaoping, who mentioned it during a March 1979 speech about the Four Cardinal Principles. [1]It became a standalone phrase in its own right under CCP general secretary Xi Jinping when, in April 2021, the People's Daily launched several articles on "dissecting Chinese-style modernization", leading rest of the Chinese state media to do the ...
Hate it or love it, China is a global superpower, and in order to understand its complexities, one must look not just at the headlines but also at everyday life, where nuanced societal trends and ...
In the late 1970s, and especially at the 3rd plenary session of the 11th Central Committee of the Chinese Communist Party in December 1978, the Chinese government initiated its policy of reform and opening up, as a response to the failure of Maoist economic policy to produce economic growth which would allow China to be competitive against not ...