Socialism with Chinese Characteristics

Socialism with Chinese Characteristics refers to China’s unique adaptation of socialist principles to fit its specific historical, cultural, and economic context. Introduced by Deng Xiaoping in the 1980s, it combines central planning and state ownership with market-oriented reforms and elements of capitalism, promoting economic growth while maintaining the Communist Party's political control. This approach aims to modernize the economy, reduce poverty, and improve living standards, while still emphasizing socialist values like collective welfare and equality. It is often seen as a pragmatic way to achieve development without abandoning the Communist Party’s foundational principles.