Author(s)

Yuchen Zhao

Corresponding Author

Yuchen Zhao

Abstract

The development path of China's market economy is a breakthrough in the traditional planned economic system, and the crystallization of the gradual process of realizing the transition to a market economic system. It follows the brand-new characteristics that the market economy is a common law that promotes the development of human society, adheres to the leadership of the Communist Party, takes public ownership as the mainstay, and develops with multiple ownership systems, and effectively exerts the leading role of the state. Over the past 30 years of reform and opening up, the Chinese economy has created a “growth miracle” in modern economic history. It has withstood the impact of the 2008 international financial crisis, further highlighting the importance of China's market economy development path to world economic development.

Keywords

Socialist market economy, World economic growth, Economic system