ABSTRACT
China has impressed the world for its continued high growth rates since economic reforms started in 1978. Rapid economic growth is also reflected in the gross industrial output value. Throughout the reform period starting from 1978, diversification has no doubt been the most distinguishing feature of social and economic planning in China; one can even say that the process of economic reforms in China has been one of economic and labour force diversification. The current urban economic system in China can be divided into four different sub-systems, according to the nature of ownership: state-owned enterprises; collectively owned enterprises; individually owned enterprises. And enterprises with other types of ownership, including joint ventures, shareholding corporations, foreign-funded enterprises, and enterprises funded by residents from Hong Kong, Macao and Taiwan. Since reforms started in 1978, economic development in China has been one of the re-emergence and rapid growth of the non-state sector, particularly individually owned enterprises and enterprises with other types of ownership.
