China's Economy

Main

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

1949

90% live in the countryside and in poverty

1949

By now half the population are considered poor

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 - 1976

China begins to prosper

1978

Mantra of “To get rich is glorious”

1978 - 1992

Establishment of the 4 modernisations

1978 - 1992

SEZs set up to encourage factory production

1980

Incentives are introduced to try and make farmers more productive

1980

Coca Cola set up a joint venture in China

1980

More food is produced

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

World leader in car manufacture building 9.3 million cars,

2008

Factories close and workers return to villages

2008

40% lived in cities

2010

Economy continues to grow

2012

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

2012

80% of pirated goods come from China

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