Socialist market economy
Article Talk
Language
Download PDF
Watch
Edit
This article is about the specific economic system in China. For the broader concept of market-based socialism, see Market socialism. For the system in Vietnam, see Socialist-oriented market economy. For the economic model combining free-market capitalism with social policies, see Social market economy.
The socialist market economy (SME) is the economic system and model of economic development employed in the People's Republic of China. The system is a market economy with the predominance of public ownership and state-owned enterprises.[1] The term "socialist market economy" was introduced by Jiang Zemin during the 14th National Congress of the Chinese Communist Party (CCP) in 1992 to describe the goal of the reform and opening up.
Socialist market economy
Simplified Chinese
社会主义市场经济
Traditional Chinese
社會主義市場經濟
Transcriptions
Originating in the reform and opening up initiated in 1978 that integrated China into the global market economy, the socialist market economy represents a preliminary or "primary stage" of developing socialism. It is officially described as an economic system in which the market plays a decisive role in resource allocation under the macro-control of the socialist state. Some commentators describe the system as a form of "state capitalism", while others describe it as an original evolution of Marxism, in line with Marxism–Leninism similar to the "New Economic Policy" of the Soviet Union, adapted to the cohabitation with a globalized capitalist system.[2]
:::BREAKING:::
CLUELESS
Socialist market
This article is about the specific economic system in China. For the broader concept of market-based socialism, see Market socialism. For the system in Vietnam, see Socialist-oriented market economy. For the economic model combining free-market capitalism with social policies, see Social market economy.
The socialist market economy (SME) is the economic system and model of economic development employed in the People's Republic of China. The system is a market economy with the predominance of public ownership and state-owned enterprises.[1] The term "socialist market economy" was introduced by Jiang Zemin during the 14th National Congress of the Chinese Communist Party (CCP) in 1992 to describe the goal of the reform and opening up.
Socialist market economy
Simplified Chinese
社会主义市场经济
Traditional Chinese
社會主義市場經濟
Transcriptions
Originating in the reform and opening up initiated in 1978 that integrated China into the global market economy, the socialist market economy represents a preliminary or "primary stage" of developing socialism. It is officially described as an economic system in which the market plays a decisive role in resource allocation under the macro-control of the socialist state. Some commentators describe the system as a form of "state capitalism", while others describe it as an original evolution of Marxism, in line with Marxism–Leninism similar to the "New Economic Policy" of the Soviet Union, adapted to the cohabitation with a globalized capitalist system.[2]
= social democracy