ABSTRACT
China began to introduce economic reforms aimed at creating a market economy after the 11th Central Committee meeting of the Communist Party of China in December 1978. China's economic growth since that year has exceeded all expectations including those of its planners. Real GNP has grown by almost 9 per cent per annum during the period 1982–93. If this pace keeps up for another few years, China will have matched the growth rates of Japan, South Korea and Taiwan during their period of rapid growth.
