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The Maoist Great Leap Forward (simplified Chinese: 大跃进; traditional Chinese: 大躍進; pinyin: Dàyuèjìn) was the plan used from 1958 to 1961 to transform the People's Republic of China from a primarily agrarian economy by peasant farmers into a modern communist society through the process of agriculturalization and industrialization.
The informal economy in China represents a large portion of domestic output, consumption and employment. Employment in the urban sector represents a major part of the Chinese economy: approximately half of urban Chinese workers belong to the informal economy as of 2004. [1] —a significant increase since the 1990s.
Taken as a whole, China's economy and exports do not rely on the mining industry, but the industry is critical to various subnational Chinese governments. Mining is extensively regulated in China and involves numerous regulatory bodies. The Chinese state owns all mineral rights, regardless of the ownership of the land on which the minerals are ...
The economy of the People's Republic of China is a developing mixed socialist market economy, incorporating industrial policies and strategic five-year plans. [29] China is the world's second largest economy by nominal GDP and since 2017 has been the world's largest economy when measured by purchasing power parity (PPP).
Another analysis carried out by the Global Studies Association at the DePaul University in 2006 reports that the Chinese economic system does not constitute a form of socialism when socialism is defined as a planned economy where production for use has replaced production for profit as the driving force behind economic activity, or when ...
The Five-Year Plans (Chinese: 五年计划; pinyin: Wǔnián Jìhuà) are a series of social and economic development initiatives issued by the Chinese Communist Party (CCP) since 1953 in the People's Republic of China. Since 1949, the CCP has shaped the Chinese economy through the plenums of its Central Committee and national party congresses.
Chinese entrepreneurs learned their skills in the port cities, and soon applied for and received bank loans for their own startups. Chinese merchants headquartered there set up branches across the Southeast Asia, including British Singapore and Malaya, the Dutch East Indies, French Indochina and the American Philippines. [288]
The ministry also records and publishes annual macroeconomic data on China's economy. This includes information such as previous economic growth rates in China, central government debt and borrowing and many other indicators regarding the economy of mainland China. The Ministry of Finance's remit is smaller than its counterparts in many other ...