Many models have been proposed to generalize China’s economic reform, but the most popular “Beijing Consensus” model is not a proper description of China’s development experience. It is more accurate to portray this experience as a “path” instead of a “model” or a “paradigm”. The Chinese Path of development can be seen as a gradual, experimental and simultaneous process of industrialization, marketization and globalization under the guidance of the market-preserving state, a process of economic liberalization without political liberalization. Industrialization is propelled by capital, labor and technology, marketization is implemented by the creation of a market outside of the plan, and globalization is achieved through a export-oriented strategy.