China's Economic Reform Model

Definition

China's economic reform model refers to Deng Xiaoping's policies implemented in the late 1970s to transition China from a centrally planned economy to a market-oriented socialist economy. It involved opening up to foreign investment, decentralization of power, and the development of special economic zones.

Related terms

Special Economic Zones (SEZs): Geographical areas within China that offer tax incentives and fewer regulations to attract foreign investment.

State-Owned Enterprises (SOEs): Companies owned and controlled by the government in China, often playing a significant role in important industries.

One Child Policy: A population control policy implemented in China from 1979 to 2015, limiting most urban couples to having only one child.