Untitled timeline

Main

90% live in countryside and most in poverty

1949

China Poorest, most undeveloped country in the world

12/01/1949

99% of China's economy owned by state

1956

Government tried to push industrialisation, productivity was low

1956

Cultural revolution

1966 - 1976

China starts to prosper

1978

Foreign Investment Allowed

1979

Mantra of “To get rich is glorious”

1979

Establishment of the 4 modernisations

1979

Coca Cola set up a joint venture in China

1980

Incentives are introduced to try and make farmers more productive

1980

By now half the population are considered poor

1981

More food is produced

1982

More opportunity for people to work in factories and small businesses

1982

SEZs set up to encourage factory production

1984

Shenzhen is transformed from fishing village to city of 8 million

1984

People move from the countryside to the cities

1989

Economy continues to grow

1991

China joins the WTO

2001

State ownership is now restricted to heavy industry

2004

most state-owned enterprises are inefficient and fail to make a profit.

2004

State owned firms have fallen from 300,000 to 150,000.

2005

71% of China’s economy was in private hands.

2005

Retail sales on China more than doubled

2005 - 2009

Safety concerns prompt need for safety measures

2007

Factories close and workers return to villages

2008 - 2012

World leader in car manufacture building 9.3 million cars,

2008

China takes over Japan as the second largest economy in the world

2010

80% of pirated goods come from China

2012

Expected that 60% of people will live in cities

2032

Leaders

Mao

1949 - 1979

Deng

1979 - 1992

Jiang

1993 - 2003

Hu

2004 - 2012