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The socialist market economy (SME) is the economic system and model of economic development employed in the People's Republic of China. The system is a market economy with the predominance of public ownership and state-owned enterprises. [1] The term "socialist market economy" was introduced by Jiang Zemin during the 14th National Congress of ...
Part of a series on Communism Concepts Anti-capitalism Class conflict Class consciousness Classless society Collective leadership Communist party Communist revolution Communist state Commune Communist society Critique of political economy Free association "From each according to his ability, to each according to his needs" Market abolitionism Proletarian internationalism Labour movement Social ...
After months of unexplained delay, top officials from China’s ruling Communist Party are gathering in Beijing this week to signal the direction forward for the world’s second largest economy ...
The Chinese experience with socialism with Chinese characteristics is frequently referred to as a socialist market economy where the commanding heights are state-owned, but a substantial portion of both the state and private sectors of economy are governed by market practices, including a stock exchange for trading equity and the utilization of ...
He wrote that China was a socialist society, but that socialism in China was in its primary stage, [10] a Chinese peculiarity which was due to the undeveloped state of the country's productive forces. [10] During this phase of development, Zhao recommended introducing a planned commodity economy on the basis of public ownership. [10]
After four miserable years, stock market in Hong Kong and mainland China are finally soaring, but whether benefits from the economic stimulus measures announced in September spread beyond stock ...
When the Chinese Communist Party (CCP) came to power in 1949, its leaders' fundamental long-range goals were to transform China into a modern, powerful, socialist nation. In economic terms these objectives meant industrialization, improvement of living standards, narrowing of income differences, and production of modern military equipment.
Zhang Weiying, a pro-market economist in China, warned that China risks "common poverty" rather than common prosperity if it pushed too far with state control over the economy. [46] Ren Yi, an online internet commentator who writes under the name "Chairman Rabbit", said that common prosperity will allow China to better adapt to the future of ...