Economic reform in China and their methodological basis

Abstract

Importance: successful economic reforms over the years have made China the second largest economy. And the state played a major role in this. As an important actor in reforms, it has made a significant contribution to economic recovery. One of the determining factors in stimulating the Chinese economy was the expansion of the market in a global economy. Purpose: evaluate current practices in various areas of the economy and identify positive aspects and limitations. Research design: to achieve this goal, a complex of methods of scientific knowledge was used, including analysis, synthesis, systematicity, as well as special ones: comparisons, groupings, generalizations. Using the statistical research method, key economic indicators of China were analyzed. Results: it was revealed that the combination of the advantages of planned economic management with the benefits of the global world economy lies at the basis of the “Chinese miracle”. The growth dynamics of the Chinese economy are analyzed. The transformation of the Chinese economy over 40 years is presented. Factors for increasing key economic indicators have been identified. The
macroeconomic results of the ongoing socio-economic policy are revealed. The features of the financial and tax aspects of the economy are given. A number of conclusions have been made regarding the growth prospects of China’s economic development.