Socialist market economy
The socialist market economy is seen by the Communist Party of China as an early stage in the development of socialism (this stage is variously called the "primary" or "preliminary" stage of socialism), where public ownership coexists alongside a diverse range of non-public forms of ownership. The Communist Party of China maintains that despite the co-existence of private capitalists and entrepreneurs with public and collective enterprise, China is not a capitalist country because the party retains control over the direction of the country, maintaining its course of socialist development. Proponents of this economic model distinguish it from market socialism as market socialists believe that economic planning is unattainable, undesirable or ineffective and thus view the market as an integral part of socialism whereas proponents of the socialist market economy view markets as a temporary phase in development of a fully planned economy.
Socialism 3.0
Socialism 3.0 refers to the third era of socialism in China which is distinguished from Mao Zedong's equalitarianism era and Deng Xiaoping's Reform and Opening-up era. It is also referred to as the post-reform era. This concept was first proposed by Professor Wang Shaoguang from the Chinese University of Hong Kong in a non-published speech. It was later referred by Peter Martin and David Cohen in their article Socialism 3.0 in China, which mainly focused on Bo Xilai's Chongqing Model. The authors cast doubt on the Maoist policies adopted by Bo Xilai, a high-rank of Communist Party of China and chief official of Chongqing, China, being a feasible future for China's Socialism.