China's Economy

Leaders

Mao

1949 - 1979

Deng

1978 - 1992

Jiang

1993 - 2003

Hu

2003 - 2012

Main

90% live in the countryside and in poverty

1949

China is the poorest and most underdeveloped country in the world.

1949

The Government begin to push for industrialisation but productivity is low

1956

99% of the economy is owned by the state

1956

Cultural revolution

1966

Establishment of the 4 modernisations

1979

Mantra of “To get rich is glorious”

1979

Foreign investment is allowed

1980

SEZs set up to encourage factory production

1980

More food is produced

1980

Incentives are introduced to try and make farmers more productive

1980

China begins to prosper

1981

More opportunity for people to work in factories and small businesses

1982

Coca Cola set up a joint venture in China

1990

People move from the countryside to the cities

1995

China joins the WTO

2001

Economy continues to grow

2001

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

2003

80% of pirated goods come from China

2006

Shenzhen is transformed from fishing village to city of 8 million

2007

Safety concerns prompt need for safety measures

2007

Retail sales on China more than doubled

2007

World leader in car manufacture building 9.3 million cars,

2008

Factories close and workers return to villages

2008

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

2010

Expected that 60% of people will live in cities

2030