Maoist Era

Start from 1949

All foreign currency were transported to Taiwan
After the formation of PRC, tight control of budget
and money supply were apply.
The anti capitalist campaign applied between
1951-1952
Govt nationalized the countrys banking system
and centralized currency and credit control.
Boost govt revenue by collecting agriculture taxes.

Land reform, eliminating landlord.
Great Leap Forward
After few years, agricultural and industrial
production returned to normal levels

1978-1990
China began to reforms to its economy.
Introduce aspects of a capitalist economic system.
Emphasized raising personal income,
consumption and new management system.
In the 1980s, China tried to combine central
planning with market-oriented reforms
Reforms began in the agricultural, industrial, fiscal,
financial, banking, price setting, and labor systems
In 1978,decision was made to permit foreign direct
investment in several small "special economic
zones" along the coast
In the early 1980s steps were taken to expand the
number of areas that could accept foreign
investment
This additional effort resulted in making 14 coastal
cities and three coastal regions "open areas" for
foreign investment
1990-2000
In the 1990s, the Chinese economy continued to
grow at a rapid pace which at 10.43%
Inflation, which reached over 20 percent in 1994
China had huge reserves, a currency that was not
freely convertible, and capital inflows that
consisted overwhelmingly of long-term investment
China faced slowing growth and rising
unemployment based on internal problems
Financial system burdened by huge amounts of
bad loans
Massive layoffs affected from aggressive efforts to
reform state-owned enterprises (SOEs).
Despite China's impressive economic
development during the past two decades,
reforming the state sector and modernizing
the banking system remained major barriers.
Announced plans to sell, merge, or close the
vast majority of SOEs in his call for increased
"non-public ownership"
In 2000, China claimed success in its three-year
effort to make the majority of large SOEs
profitable
2000-2010
In October 2003, Chinese legislators unveiled
several proposed amendments to the state
constitution.
One of the most significant was a proposal to
provide protection for private property rights
In October 2005, government aimed at building a
"socialist harmonious society
China's economy grew at an average rate of 10%
per year during the period 19902004
China's GDP grew 10.0% in 2003, 10.1%, in 2004,
and even faster 10.4% in 2005
China's total trade in 2010 surpassed $2.97 trillion
In 2007 China recorded its fastest growth since
1994 when the GDP grew by 13.1 percent
China launched its Economic Stimulus Plan to
specifically deal with the Global financial crisis of
20082009
Goverment also focused on increasing affordable
housing, easing credit restrictions for mortgage
and SMEs, lower taxes
Increase public investment into infrastructure
development, such as the rail network, roads and
ports
By the end of 2009 it appeared that the Chinese
economy was showing signs of recovery


2010-present
Government was poised to move from export
dependency to development of an internal market.
Wages were rapidly rising in all areas of the
country
The standards of living increase
In 2010, China's GDP was valued at $5.87 trillion,
surpassed Japan's $5.47 trillion
China is the largest creditor nation in the world
and owns approximately 20.8% of all foreign-
owned US Treasury securities

From 2011 onward, however, China has been
experiencing a slowing of its growth that throws all
of the above calculations into doubt
Due to the corruption and political uncertainties of
the one-party state and the limited economic
freedom in an economy dominated by large state
owned enterprises, many skilled professionals are
either leaving the country or preparing safety nets
for themselves abroad
Currency => Yuan or Renminbi
GDP growth => 7.8%(2012)
Inflation => 2.5% (2012)
Labour force => 795.5 million (2010)
Unemployment => 4.1% (2012)
Exports => $2.021 trillion (2012)
Imports => $1.78 trillion (2012)
Revenues => $1.838 trillion (2012)
Expenses => $2.031 trillion (2012)
Foreign reserves => $ 3.44 trillion (Q1, 2013)