70 Years of Economic Development

Across the seven decades since its founding, the People’s Republic of China (PRC) has transitioned from a closed and backward country to an open and progressive nation. From a poor and weak country with insufficient food and clothing, China has been continuously building a moderately prosperous society in all respects, which has ultimately resulted in a prosperous and strong land.

China has evolved from a backward agricultural country into the world’s largest manufacturer. It has deeply integrated into the global economy with increasing international commerce and trade, becoming the world’s second-largest economy.

With steady urbanization and improved infrastructure alongside rapid development in sectors like science and technology, education, culture, medical services and sports, a diverse array of businesses are flourishing in China, and living standards of its people have improved drastically.