China's Economy

Main

By now half the population are considered poor

1949

90% live in the countryside and in poverty

1949

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

1949

99% of the economy is owned by the state

1956

The Government begin to push for industrialisation but productivity is low

1956

Cultural revolution

1966 - 1976

Establishment of the 4 modernisations

1978 - 1992

Mantra of “To get rich is glorious”

1978 - 1992

China begins to prosper

1978

SEZs set up to encourage factory production

1980

More food is produced

1980

Coca Cola set up a joint venture in China

1980

Incentives are introduced to try and make farmers more productive

1980

State owned companies are insuffiecient and fail to make profit.

2000

China joins the WTO

2001

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

2003

Retail sales on China more than doubled

2005 - 2009

Shenzhen is transformed from fishing village to city of 8 million

2007

Factories close and workers return to villages

2008

World leader in car manufacture building 9.3 million cars,

2008

40% lived in cities

2010

80% of pirated goods come from China

2012

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

2012

Economy continues to grow

2012

Expected that 60% of people will live in cities

2032

Leader

Mao

1949 - 1976

Deng

1979 - 1992

Jiang

1993 - 2003

Hu

2004 - 2012

Safety concerns prompt need for safety measures

2007