Contemporary China's Transformation from Plan to Market

Ren Xiaowei

Abstract

Contemporary China’s economic system was planned economy from 1949-1978. After 1978, China began to transfer to market economy. The process was very long. In 1992, the aim of market economy was established formally. Understanding the change of contemporary
China is necessary to understand contemporary China’s economic history.


Keywords

China economy; group central budget economy; socialist market economy; planned economy

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