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.
Peasant Party (Taiwan)
The Peasant Party regards the two belligerent parties of the Chinese Civil War (the People's Republic of China versus the Republic of China; or the Communist Party of China versus the Kuomintang) should recognize each other as sovereign States, similar to the model adopted by the Federal Republic of Germany and the German Democratic Republic. It predicts that the two parties will reunite when the economic conditions become similar. However, the Peasant Party does not consider the islands of Taiwan and the Pescadores part of China, because they consider the Republic of Formosa of 1895 recovers de jure sovereignty over these islands, after the surrender of Japan following World War 2. This led them to assert that the current sovereign territory of the Republic of China only covers Quemoy and Matsu (both historically and administratively part of Fujian).