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.
Communist-controlled China (1927–1949)
Communist-controlled China (), officially called the Soviet Zone (), was the part of the territories of China controlled by the Communist Party of China from 1927 to 1949 during the Republican era and the Chinese Civil War with Nationalist China. There were six soviet areas from 1927 to 1933: the Ching-kang-shan, the Central Soviet in Eastern Jiangxi on the border of Fujian, the O-Yu-Wan (Hubei-Henan-Anhui) Soviet, Hsiang-o-hsi (West Hupei and Hunan), and Hsiang-kan (Hunan-Kiangsi). The first soviet was the Hailufeng Soviet created in 1927. The Central Soviet was the main base of the Communist Party where Communist Party leader Mao Zedong issued a directive on 1 September 1931 for the Central Soviet to mass mobilize the region as a base area. As problems occurred over being able to control territories outside the Central Soviet, by 1933 a full transfer of Communist forces to the Central Soviet was achieved.