Socialist market economy
The socialist market economy (SME) is the economic system and model of economic development employed in the People's Republic of China. The system is based on the predominance of public ownership and state-owned enterprises within a market economy. The term "socialist market economy" was first used during the 14th National Congress of the Communist Party of China in 1992 to describe the goal of China's economic reforms. Originating in the Chinese economic reforms initiated in 1978 that integrated China into the global market economy, the socialist market economy represents a preliminary or "primary stage" of developing socialism. Despite this, many Western commentators have described the system as a form of state capitalism.
Tiao-kuai
In 1949, the Chinese Revolution established the People's Republic of China, a constitutionally socialist state. While China experimented with centralization and decentralization policies for a few years, the Anti-Rightist Movement in 1957 solidified the principle of ideological unity among all local governments. During the Cultural Revolution, and especially the 1971-1975 "unified income and unified expenditure" () period, bureaucrats across China implemented similar agricultural and industrial policies modeled in Beijing.