Question

Explain any four policies adopted by China to accelerate its economic growth.

Hint:

China's economic growth was driven by open-door policies, SEZs, foreign investment and modernization of agriculture and industry.

Answer 1

Concept:
China introduced several economic reforms after 1978 under the leadership of Deng Xiaoping to transform its economy from a strictly socialist system to a more market-oriented economy. Four policies adopted by China for economic growth are:

• Economic Reforms and Open Door Policy: China opened its economy to foreign trade and investment to boost industrial and economic growth.
• Establishment of Special Economic Zones (SEZs): China created SEZs where foreign companies could invest with fewer restrictions and better facilities.
• Encouragement of Private Enterprise: The government allowed private businesses and enterprises to operate, increasing economic activity and employment.
• Modernization of Agriculture and Industry: China modernized agriculture and industries by introducing new technologies and improving productivity.

Conclusion:
Thus, economic reforms, SEZs, foreign investment and modernization helped China achieve rapid economic growth.