ABSTRACT

In the immediate aftermath of the repression of the student movement on 4 June 1989, economic reform slowed down. However, three years later, in early 1992, Deng Xiaoping’s dramatic statement in southern China abruptly changed matters.1 Establishing a market system to replace the planned socialist commodity economy previously endorsed in the Constitution now became the aim. Capitalism was given a bright green light. As a result, the process of internal economic and general reform accelerated, alongside contact with the external world.2