• IntroductionChinese economic reform
  • History of the reformsOrigin1979–19841984–19931993–20052005–20122012–20202020–present
  • Effects of the reformsEconomic performanceImpact on world growthEffect on inequality
  • Reforms in specific sectorsAgricultureIndustryTrade and foreign investmentServicesGovernment finances
  • Academic studiesReasons for successComparison to other developing economiesCriticism and development issues
  • See also
  • ReferencesCitationsGeneral and cited sources
  • Further reading
  • External links

Chinese economic reform

From Wikipedia, the free encyclopedia

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 late 20th century, after Mao Zedong's death in 1976. Guided by Deng Xiaoping, who is often credited as the "General Architect", the reforms were launched by reformists within the ruling Chinese Communist Party (CCP) on December 18, 1978, during the "Boluan Fanzheng" period.[3][4][5][6] The reforms briefly went into stagnation after the 1989 Tiananmen Square protests and massacre, but were revived after Deng Xiaoping's southern tour in 1992.[7] The reforms led to significant economic growth for China within the successive decades; this phenomenon has since been seen as an "economic miracle".[1][2][8][9] In 2010, China overtook Japan as the world's second-largest economy by nominal GDP,[10][11] before overtaking the United States in 2016 as the world's largest economy by GDP (PPP).[12] On the other hand, a parallel set of political reforms were launched by Deng and his allies in the 1980s, but eventually ended in 1989 due to the crackdown on Tiananmen Square protests, halting further political liberalization.[13][14]

Quick Facts Simplified Chinese, Traditional Chinese ...
Chinese economic reform
Simplified Chinese改革开放
Traditional Chinese改革開放
Literal meaning"Reform and Opening-Up"
Transcriptions
Standard Mandarin
Hanyu PinyinGǎigé kāifàng
Wade–GilesKai3-ko2 k'ai1-fang4
IPA[kàɪkɤ̌ kʰáɪfâŋ]
Yue: Cantonese
Yale RomanizationGóigaak hōifong
JyutpingGoi2-gaak3 hoi1-fong3
IPA[kɔj˧˥kak̚˧ hɔj˥fɔŋ˧]
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