Why has China experienced substantial economic growth since the late

1970s?

Due to shift in the economy from command to mixed, China experienced substantial economic growth since the late 1970s. In present time, China has socialist market economy (SME) with rank of world's second largest economy.

China is the biggest exporter of good and also it is the biggest manufacturing economy. China exports all items such as electronic items, accessories, crockery and etc. China also holds the world's largest banking sector. USA, EU, Japan, Taiwan, Australia, Hong Kong are some its largest trading partners.

The factor that played a major role in China's economic growth since the late 1970s is economic reforms that were started within the Communist Party of China under the leadership of Deng Xiaoping. This include opening up China to foreign investment and privatization of some state owned corporations