China Reform and Development

China's Reform and Development refers to the series of policies initiated in the late 1970s that shifted the country from a centrally planned economy to a more market-oriented one. These reforms included opening up to foreign investment, decentralizing economic control, encouraging private businesses, and modernizing agriculture. The goal was to boost economic growth, reduce poverty, and improve living standards. Over time, these changes transformed China into one of the world's major economic powers, balancing state planning with market mechanisms to achieve sustained development and modernization.