Socialist patriotism
The Communist Party of China and the government of China advocate socialist patriotism. The Communist Party of China describes the policy of socialist patriotism as the following: "Socialist patriotism has three levels. At the first level, individuals should subordinate their personal interests to the interests of the state. At the second level, individuals should subordinate their personal destiny to the destiny of our socialist system. At the third level, individuals should subordinate their personal future to the future of our communist cause." The PRC portrays the Communist government as the embodiment of the will of the Chinese people.
Socialist market economy
Deng Xiaoping introduced the concept of the socialist market economy in order to incorporate the market into the planned economy in the People's Republic of China. Deng first used the term during a meeting with vice chairman of the United States "Encyclopædia Britannica" Company Frank Gibney and director of the East Asian Studies Institute of Montreal's McGill University Professor Paul Lin Daguang, asking: "Under socialism, there can also be a market economy. [...] We can't say that this is capitalism. Our planned economy is in the primary position; it integrates with the market economy, but this is a socialist market economy". The Đổi Mới in the Socialist Republic of Vietnam later adopted the concept. Following its implementation, this economic system has supplemented the centrally planned economy in the People's Republic of China, with high growth-rates in GDP during the past decades having been attributed to it. Within this model, privately owned enterprises have become a major component of the economic system alongside the central state-owned enterprises and the collective/township village enterprises.