| Abstract: | China formally adopted the policy of reform and opening up to the outside world in 1978. Since then, both economic practice and economic theory in China have undergone profound changes, and the academic study of modern Chinese economic history has been encouraged to expand its research horizons under the rubric of “liberating the mind and seeking truth in the facts”. A number of important monographs and essays have been produced and the study of modern Chinese economic history has entered a flourishing period. Current research focuses on two major topics: China's New Democratic economy and the planned economy during the period 1949–78; and, China's socialist market economy from 1978–2006. The study of these two areas shows numerous interconnections, points of comparison and causal links. The many and important lessons to be drawn from these studies both exhibit Chinese characteristics and have universal implications. |
