Most Important Economic Developments in China dailyzonehub.com

The history of the Chinese economy started in 1949, and from then, it is experiencing a lot of changes. It has been one of the fastest-growing economies of the world since 1980. The annual growth rate of the Chinese economic developments is 10%. In 2019, the total GDP of the Chinese economy was 14.34 trillion USD (Silver, 2020). The Maoist ended in 1978, and since then, it has been transiting from a socialist economy to a mixed economy. The government of China took some bold steps to make this transformation possible. This transformation included fiscal, financial, and enterprises reforms.