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Encyclopedia > Economic reform in the People's Republic of China
History of the People's Republic of China


    1949–1976, The Mao Era
        Revolution
        Korean War
        Hundred Flowers Campaign
        Anti-Rightist Movement
        Great Leap Forward
        Cultural Revolution
            Lin Biao
            Gang of Four
            Tiananmen Incident
    1976–1989, Era of Reconstruction
        Economic reform
        Tiananmen protests
    1989–2002, A Rising Superpower
        One Country, Two Systems
            Hong Kong
            Macau
        Chinese reunification
    2002–present, China Today
From a China political point of view, the Peoples Republic of China had, for several decades, been known as the political entity that is often synonymous with Mainland China. ... Image File history File links History_of_PRC.png‎ Created by author. ... Main articles: History of China and History of the Peoples Republic of China From a political point of view, the Peoples Republic of China had, for several decades, been known as the political entity that is often synonymous with Mainland China. ... Combatants Chinese Nationalists Chinese Communists Commanders Chiang Kai-shek Mao Zedong Strength 4,300,000 (July 1946) 3,650,000 (June 1948) 1,490,000 (June 1949) 1,200,000 (July 1946) 2,800,000 (June 1948) 4,000,000 (June 1949) The Chinese Civil War (Traditional Chinese: ; Simplified Chinese... Combatants United Nations: Republic of Korea  Australia  Belgium Canada  Colombia Ethiopia  France Greece  Netherlands  New Zealand  Philippines South Africa  Thailand  Turkey  United Kingdom United States Medical staff:  Denmark  Australia  Italy  Norway  Sweden Communist states: Democratic People’s Republic of Korea People’s Republic of China  Soviet Union Commanders Syngman Rhee... The Hundred Flowers Campaign, also termed the Hundred Flowers Movement, (Chinese: 百花运动, bÇŽihuā yùndòng) is the period referring to a brief interlude in the Peoples Republic of China from 1958 to 1966 during which the Communist Party authorities permitted or encouraged a variety of views and solutions... The Anti-Rightist Movement (反右派运动)) of the Peoples Republic of China in the 1950s and early 1960s consisted of a series of campaigns to purge alleged rightists within the Communist Party of China and abroad. ... This article or section does not cite its references or sources. ... The Great Proletarian Cultural Revolution (Simplified Chinese: ; Traditional Chinese: ; pinyin: ; literally Proletarian Cultural Great Revolution; often abbreviated to 文化大革命 wénhuà dà gémìng, literally Great Cultural Revolution, or even simpler, to 文革 wéngé, Cultural Revolution) in the Peoples Republic of China was a struggle for power within the... An artistic rendition of Mao Zedong and Lin Biao as his heir apparent in the style of socialist realism in the prime of the Cultural Revolution. ... This does not cite its references or sources. ... The Tiananmen incident took place in the Peoples Republic of China immediately following the April Fifth Movement. ... This article or section does not cite its references or sources. ... Economic reforms have triggered internal migrations within China. ... The Unknown Rebel - This famous photo was taken on 5 June 1989 by photographer Jeff Widener, depicts a lone protester whose tried to stop four advancing tanks until he was pulled into the crowd by a few other onlookers. ... // After the June 4th Incident, a large number of overseas Chinese students were granted political refuge almost unconditionally by foreign governments. ... One country, two systems (Simplified Chinese: 一国两制; Traditional Chinese: 一國兩制; pinyin: yì; guó liÇŽng zhì; Jyutping: jat1 gwok3 loeng5 zai3; Yale: yāt gwok leúhng jai), is an idea originally proposed by Deng Xiaoping, then Paramount Leader of the Peoples Republic of China (PRC), for the unification of China. ... Chinese (re)unification (Traditional Chinese: ; Simplified Chinese: ; pinyin: ) is a goal of Chinese nationalism that refers to the reunification of all of Greater China under a single political entity. ... // In November 2002 Jiang Zemin stepped down from the powerful Politburo Standing Committee of the Communist Party of China to make way for a younger fourth generation of leadership led by Hu Jintao. ...

   See also:
        History of China
        History of Beijing
        History of Shanghai
The history of China is told in traditional historical records that go back to the Three sovereigns and five emperors about 5,000 years ago, supplemented by archaeological records dating to the 16th century BC. China is one of the worlds oldest continuous civilizations. ... There were cities in the vicinities of Beijing by the 1st millennium BC, and the capital of the State of Yan, one of the powers of the Warring States Period, was established at Ji (T: è–Š / S: è“Ÿ), near modern Beijing. ... 1888 German map of Shanghai History of Shanghai // Shanghai was founded in the 10th century. ...

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Chinese Economic Reform (Simplified Chinese: 改革开放; pinyin: Găigé kāifàng) refers to the program of economic changes called "Socialism with Chinese characteristics" in the mainland of the People's Republic of China (PRC) that were started in 1978 by pragmatists within the Communist Party of China (CPC) led by Deng Xiaoping and are ongoing as of the early 21st century. The goal of Chinese economic reform was to generate sufficient surplus value to finance the modernization of the mainland Chinese economy. Neither the socialist command economy, favored by CPC conservatives, nor the Maoist attempt at a Great Leap Forward from socialism to communism in agriculture (with the commune system) had generated sufficient surplus value for these purposes. The initial challenge of economic reform was to solve the problems of motivating workers and farmers to produce a larger surplus and to eliminate economic imbalances that were common in command economies. Economic reforms started since 1978 has helped lift millions of people out of poverty, bringing the poverty rate down from 53% of the population in 1981 to 8% by 2001.[1] Mao redirects here. ... Deng Xiaoping   (Simplified Chinese: ; Traditional Chinese: ; pinyin: ; Wade-Giles: Teng Hsiao-ping; August 22, 1904–February 19, 1997) was a leader in the Communist Party of China (CCP). ... Jiāng Zémín (Traditional Chinese: 江澤民, Simplified Chinese: 江泽民, Hanyu Pinyin: Jiāng Zémín, Wade-Giles: Chiang Tse-min, Cantonese (Jyutping): gong1 zaak6 man4) (born August 17, 1926) was the core of the third generation of Communist Party of China leaders, serving as General Secretary of the Communist... This article does not cite its references or sources. ... The culture of China is the result of over 5,000 years of artistic, philosophical, political, and scientific advancement. ... State power within the Peoples Republic of China (PRC) is divided among three bodies: the Party, the State, and the Army. ... Simplified Chinese characters (Simplified Chinese: 简体字; Traditional Chinese: 簡體字; pinyin: jiǎntǐzì; also called 简化字/簡化字, jiǎnhuàzì) are one of two standard character sets of printed contemporary Chinese written language. ... It has been suggested that Pinyin method be merged into this article or section. ... Economics (deriving from the Greek words οίκω [okos], house, and νέμω [nemo], rules hence household management) is the social science that studies the allocation of scarce resources to satisfy unlimited wants. ... This article is about the term itself and its relationships. ... The highlighted area in the map is what is commonly known as mainland China. Mainland China (Simplified Chinese: ; Traditional Chinese: ; pinyin: is a geopolitical term which is usually synonymous with the area currently administered by the Peoples Republic of China (PRC); however, it excludes the two special administrative regions... Pragmatism is a school of philosophy which originated in the United States in the late 1800s. ... The Communist Party of China (CPC) (official name, though almost universally known in English as the Chinese Communist Party (CCP)) (Simplified Chinese: ; Traditional Chinese: ; pinyin: Zhōngguó GòngchÇŽndÇŽng) is the ruling political party of the Peoples Republic of China, a position guaranteed by the countrys... Deng Xiaoping   (Simplified Chinese: ; Traditional Chinese: ; pinyin: ; Wade-Giles: Teng Hsiao-ping; August 22, 1904–February 19, 1997) was a leader in the Communist Party of China (CCP). ... Modernization is closely linked to classical liberalism. ... Socialism is a social and economic system (or the political philosophy advocating such a system) in which the economic means of production are owned and controlled collectively by the people. ... A planned economy is an economic system in which economic decisions are made by centralized planners, who determine what sorts of goods and services to produce, and how they are to be priced and allocated. ... Maoism or Mao Zedong Thought (Chinese: 毛澤東思想, pinyin: Máo Zédōng Sīxiǎng), also called Marxism-Leninism–Mao Zedong Thought or Marxism-Leninism-Maoism (MLM), is a variant of communism derived from the teachings of Mao Zedong (1893&#8211... This article or section does not cite its references or sources. ... Socialism refers to a broad array of doctrines or political movements that envisage a socio-economic system in which property and the distribution of wealth are subject to social control. ... Communism is an ideology that seeks to establish a classless, stateless social organization based on common ownership of the means of production. ...


Chinese economic reform has been undertaken through a series of phased reforms. In general, these reforms were not the results of a grand strategy, but as immediate responses to pressing problems. In some cases, such as the closing of state enterprises, the government has been forced by events and economic circumstances to do things that it did not want to do. As of 2005, 70% of China's GDP is in the private sector. The relatively small public sector is dominated by about 200 large state enterprises concentrating mostly in utilities, heavy industries, and energy resources.[1] The private sector of a nations economy consists of all that is outside the state. ... < [[[[math>Insert formula here</math>The public sector is that part of economic and administrative life that deals with the delivery of goods and services by and for the [[government </math></math></math></math> Direct administration funded through taxation; the delivering organisation generally has no specific requirement to meet commercial... A state-owned enterprise (SOE) is an enterprise, often a corporation, owned by a government. ... A public utility is a company that maintains the infrastructure for a public service. ... Heavy industry does not have a single fixed meaning compared to light industry. ... Rainforest on Fatu-Hiva, Marquesas Islands Natural resources are naturally occurring substances that are considered valuable in their relatively unmodified (natural) form. ...


Although Chinese economic reform has been characterised by many in the West as a return to capitalism, Chinese officials have insisted that it is a form of socialism, because to do otherwise would call into question the validity of Marxism and the legitimacy of the regime. However, they have not argued against the premise that many of the reforms involve adopting economic policies that are in use in capitalist nations, and one of the premises of Chinese economic reform is that China should not avoid adopting "whatever works" for ideological reasons. This box:      Capitalism generally refers to an economic system in which the means of production are mostly privately [1] owned and operated for profit and in which distribution, production and pricing of goods and services are determined in a largely free market. ... Marxism refers to the philosophy and social theory based on Karl Marxs work on one hand, and the political practice based on Marxist theory on the other hand (namely, parts of the First International during Marxs time, communist parties and later states). ... An ideology is an organized collection of ideas. ...


In addition, many of the economic structures that have been created in the course of Chinese economic reform may appear superficially similar to those found in other nations, but are in fact quite unique.

Contents

History

The first reforms in the late 1970s and early 1980s consisted of opening trade with the outside world, instituting the household responsibility system in agriculture, by which farmers could sell their surplus crops on the open market, and the establishment of Township and Village Enterprises (TVE's). The reforms of the late 1980s and early 1990s focused on creating a pricing system and decreasing the role of the state in resource allocations. The reforms of the late 1990s focused on closing unprofitable enterprises and dealing with insolvency in the banking system. After the start of the 21st century, increased focus has been placed on the gap between rich and poor in China. Within China, most of the economic growth of the 1980s and 1990s with the notable exception of Dengs initial land reforms have been concentrated in the coastal cities such as Shanghai and Guangzhou. ... For other uses, see Bank (disambiguation). ...


Chinese economic reform, unlike perestroika, has been an economic success, generating over two decades of rapid economic growth. The standard of living of most Chinese has improved markedly since 1978. The CCP goal of modernization also seems to be moving forward. Throughout China one can witness the rapid modernization of infrastructure, including new superhighways, airports, and telecommunications facilities. Shanghai now has a magnetic levitation train, the first commercial maglev in operation in any country. This article or section does not adequately cite its references or sources. ... The Standard of living refers to the quality and quantity of goods and services available to people and the way these services and goods are distributed within a population. ... A highway is a major road within a city, or linking several cities together. ... Copy of the original phone of Graham Bell at the Musée des Arts et Métiers in Paris Telecommunication is the transmission of signals over a distance for the purpose of communication. ... This article or section does not cite its references or sources. ... Transrapid at the Emsland test facility Transrapid maglev in Shanghai Magnetic levitation transport, or maglev, is a radically new form of transportation that suspends, guides and propels vehicles via electro-magnetic energy. ...


Chinese economic reform has consisted of a large number of different changes. There are several principles which appear to underlie the program. The first is pragmatism, which is embodied in Deng Xiaoping's dictum to seek truth from facts. The criteria for success are determined by experiment rather than by ideology. The second is incrementalism. Instead of announcing and implementing a national program, typically, an idea is implemented locally or in a particular economic sector, and if successful it is gradually adopted piecemeal throughout the nation. Seek truth from facts (Chinese: &#23454;&#20107;&#27714;&#26159;, pinyin: shí shì qiú shì) is a slogan in the Peoples Republic of China referring to pragmatism. ...


The first parts of Chinese economic reform involved implementing the household responsibility system in agriculture, by which farmers were able to retain surplus over individual plots of land rather than farming for the collective. This was followed by the establishment of TVE's, which were industries owned by townships and villages. An open door policy was introduced by which the PRC began to allow international trade and foreign direct investment. These initiatives immediately increased the standard of living for most of the Chinese population and generated support for later, more difficult, reforms. Foreign direct investment (FDI) is defined as a long-term investment by a foreign direct investor in an enterprise resident in an economy other than that in which the foreign direct investor is based. ...


The second phase of reform occurred in the 1980s and was aimed at creating market institutions and converting the economy from an administratively driven command economy to a price driven market economy. This difficult task of price reform was achieved using the dual-track pricing system, in which some goods and services were allocated at state controlled prices, while others were allocated at market prices. Over time, the goods allocated at market prices were increased, until by the early-1990s they included almost all products.


In the 1990s, the focus of the reform was to create a viable banking system which could control the economy via monetary policy and issue loans on the basis of profit and loss, rather than by political orders. In the late-1990s and early-2000s, the focus was also on industrial reform, which involved the painful closing of unprofitable state-owned factories and the development of social security systems. Central banks set monetary policy. ... Social security primarily refers to a field of social welfare concerned with social protection, or protection against socially recognized conditions, including poverty, old age, disability, unemployment, families with children and others. ...


China has already formed a big tourism industry which keeps up with global trends. China's tourism has made remarkable progress in business organization, management skills, and the fostering of tourism markets. The latest figures show the fixed assets of the tourism industry reached 786.1 billion yuan, with 268,000 tourism businesses. There are now 8,993 travel agencies and over 33.35 million tourism employees in China


Comparison to Perestroika

Chinese economic reforms occurred at almost the same time as perestroika in the Soviet Union, yet perestroika has been widely judged to be a failure while Chinese economic reform has been widely considered to be a success. This is largely because the Soviets focused their efforts on developing heavy industry, which only affects a small group. In China the emphasis was on agriculture and light industry, which produces immediate winners because the goods produced are consumed by a large portion of the population. This article or section does not adequately cite its references or sources. ...


Public perception of reforms

Because of the loss of iron rice bowl jobs due to the reforms, many people were initially opposed to further liberalisation of the economy. Protestors at the 1989 Tiananmen Square Incident included workers who felt that reforms had gone too far and threatened their livelihoods. However, according to a study done by the Program on International Policy Attitudes, University of Maryland, 74% of Chinese surveyed feel that the free market is the best economic system, the highest percentage among the 20 nations surveyed. For comparison, 71% of people surveyed in the United States felt the same.[2] Iron rice bowl (&#37941;&#39151;&#30871;) is a term used in China, Hong Kong, Taiwan, and other ethnic Chinese communities to refer to an occupation with guaranteed job security, as well as steady income and benefits. ... The Unknown Rebel - This famous photo was taken on 5 June 1989 by photographer Jeff Widener, depicts a lone protester whose tried to stop four advancing tanks until he was pulled into the crowd by a few other onlookers. ... The Program on International Policy Attitudes (PIPA) is an institution devoted to research on the public opinion of international politics. ... The University of Maryland, College Park (also known as UM, UMD, or UMCP) is a public university located in the city of College Park, in Prince Georges County, Maryland, just outside Washington, D.C., in the United States. ... A free market is an idealized market, where all economic decisions and actions by individuals regarding transfer of money, goods, and services are voluntary, and are therefore devoid of coercion and theft (some definitions of coercion are inclusive of theft). Colloquially and loosely, a free market economy is an economy...


Wealth Disparity

Living standard for everyone in China has drastically increased in comparison to their pre-reform era, including the wealth disparity. Many foreign and domestic Chinese scholars and researchers argue that political reforms are required to counter the widespread corruption in China, which results in corrupted cadres and their associates acquiring wealth at a much faster pace than most people in China. [citation needed] Such accumulation of wealth via illegitimate means has fueled widespread discontent. [citation needed]


By the Chinese government's own admission, by the late 1990's, China had already became second in the world in wealth disparity (Zimbabwe was the first). By the mid 2000's, it has surpassed Zimbabwe and climbed to the number one spot. These findings were supported by the official Chinese governmental statistics, which was first released during the All-China First Plenatary Session of the Tenth Chinese People's Political Consultative Conference held between March 3, 2003 and March 14, 2003 in Beijing by its standing committee member Mr. Chen Mingde (陈明德), and subsequently published on the Xinhua net, the website of Xinhua News Agency. According to the released findings, by the end of 2000, the Gini coefficient had reached 41.7%. This article is on the politics of Mainland China. ... Template:Otherusescccc A graph of a bell curve in a normal distribution showing statistics used in educational assessment, comparing various grading methods. ... The Chinese Peoples Political Consultative Conference (&#20013;&#22269;&#20154;&#27665;&#25919;&#27835;&#21327;&#21830;&#20250;&#35758; Pinyin: Zhongguo renmin zhengzhi xieshang huiyi), abbreviated CPPCC, is an advisory body in the Peoples Republic of China. ... March 3 is the 62nd day of the year in the Gregorian Calendar (63rd in leap years). ... 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... For the Lebanese political coalition, see March 14 Alliance. ... 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... Beijing [English Pronunciation] (Chinese: 北京 [Chinese Pronunciation]; Pinyin: BÄ›ijÄ«ng; IPA: ), a metropolis in northern China, is the capital of the Peoples Republic of China (PRC). ... Front gate of the main building of Xinhua News Agency in Beijing The Xinhua News Agency (Simplified Chinese: 新华社; Traditional Chinese: 新華社; pinyin: ), or NCNA (New China News Agency), is the official press agency of the government of the Peoples Republic of China and the biggest center for collecting information and... Graphical representation of the Gini coefficient The Gini coefficient is a measure of inequality of a distribution. ...


A separate report by World Bank for 2006 states that the income of the bottom 10% of the population in China decreased by 2.4% in comparison to the previous year, while the income of the rest of 90% of the population in China has increased. [citation needed] World Bank Group logo The World Bank Group is a group of five international organizations responsible for providing finance and advice to countries for the purposes of economic development and eliminating poverty. ...


The issue of extreme wealth disparity caused by the Chinese economic reform has prompted some hard-line conservatives in China to advocate the return of Maoism.[citation needed]. This article or section does not cite its references or sources. ...


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