Evolution of China’s model of economic growth

Abstract

The authors consider in detail the main stages of China’s economic development, emphasizing the consistent economic policy aimed at industrialization and development of the services sector. It is noted that the country’s leadership adheres to certain postulates: focus on long-term goals, flexibility in the development of institutional change formats, the use of economic advantages of the country, ensuring the government’s increased role in the development of the market economy, the use of public reassurance in market reforms. In recent years, an obvious drive for development and use of innovations and implementation of the principle of openness of the economy has been noticed.