China Socialist Market Economy Engineering

1992 launched the second phase of China’s opening-up and reform policy, based on the theoretical achievements of the “socialist market economy” system. Since then, China has developed and sophisticated its ecosystems to attract and cultivate foreign investment and assets. In 2019, China’s economic strategy has shifted to a more systematic and comprehensive approach, strengthened rather than altered by Covid-19 and the growing rivalry with U.S.-led Western nations. China’s domestic market has been designed as a tool by CCP leaders since the beginning of economic reforms, not just a playground. Today, China’s local business environment brings more uncertainty to foreign companies and investors, with no guarantee of secure and sustainable development.