China's Economic System Analysis

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Abstract: Since 1979, China changed it economy system, the economy has made great progress.After more than 30 years of rapid development, China 's economy has achieved unprecedented achievements. In 2010, China become globe’s second ranking economy. But as the cost of economic growth, China accumulated increasingly sharp contradictions. This paper shows the advantages of China 's economic system compared with the general market economy through its achievements. And find out the deficiencies and solutions based on the economy problems. Key words: Economy, China, Problem, Achievement, Reform Introduction: There is no doubt that China has made the most outstanding achievement in developing countries since 1980s. Even if it does not incorporate…show more content…
For example, China has built the world’s largest bullet-train network(qz.com), but “California’s bullet train development hits another snag.”(economist.com).American companies limited by price increases and voters discuss with…show more content…
It is not unique to China. The existence of the gap between the rich and the poor is reasonable and necessary. Because in the market economy, competition is inevitable. The existence of gaps will lead to competition and promote economic development. China need to keep market-oriented reforms, gradually increase the number of middle class to fill the gap between the rich and the poor. Improve social welfare and let more people enjoy the achievements of economic development. 3.2 Economic System Reforms “Market forces will be given a greater role in the economy through wide ranging deregulation. Already 221 administrative approval procedures have been removed”.(Pathfinderfoundation.org) Chinese government will gradually reduce the effect on the market.On the other hand, Encourage private enterprises to enter the fields of national defense ,mobile communication, energy and other fields. Conclusion: Facing the current complex international economic situation, the future development of China 's economy still needs continuous deepening reform. While maintaining economic growth, government should reduce intervention and let the market play a role of resource allocation. China 's "characteristic" market economy will become more close to the real market

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