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Evidence from the China Statistical Yearbook also confirms the increasing economic gap between China's West and East, indicating that the east-to-west GDP ratio increased from 2.98 in 1980 to 4.33 in 2000. [citation needed] Xi Jinping's Belt and Road Initiative built upon the strategies of Jiang's Western development efforts. [17]: 149
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).
[15]: 200 In March 1986, the State Council submitted "The 7th Five Year Plan for National Economic and Social Development of the People's Republic of China, 1986–1990" to the Fourth Session of the Sixth National People's Congress for review and ratification. It was the first time in China's history that an all-round plan for social and ...
China has instead relied on a decades-old strategy of favoring industrial production over all else, spurring a flood of production domestically and exports abroad. Without more help on the demand ...
In the mid-2000s, the strategy of economic rebalancing became a major principle of Chinese economic policy. [35]: 12 This strategy seeks to transition China from an export-driven economy to one led by Chinese innovation and domestic consumption.
The 14th Five-Year Plan, officially the 14th Five-Year Plan for Economic and Social Development and Long-range Objectives Through the Year 2035 of the People's Republic of China, is a set of Chinese economic development goals designed to strengthen the national economy between 2021 and 2025.
The Chinese economic reform or Chinese economic miracle, [1] [2] also known domestically as reform and opening-up (Chinese: 改革开放; pinyin: Gǎigé kāifàng), refers to a variety of economic reforms termed "socialism with Chinese characteristics" and "socialist market economy" in the People's Republic of China (PRC) that began in the ...
The 13th Five-Year Plan of China, officially the 13th Five-Year Plan for Economic and Social Development of the People's Republic of China, was a set of economic goals designed to strengthen the Chinese economy between 2016 and 2020.