Automotive industry in China
The automotive industry in Chinese mainland has been the largest in the world measured by automobile unit production since 2008. As of 2024, China is also the world's largest automobile market both in terms of sales and ownership.
Vehicle traffic in an expressway in Beijing
Tesla Model 3 made by Tesla's Gigafactory Shanghai
Jiefang CA10, first production vehicle of China, made by the First Automobile Works in 1956
Hongqi CA72 (1959)
The Chinese economic reform or Chinese economic miracle, also known domestically as reform and opening-up, refers to a variety of economic reforms termed "socialism with Chinese characteristics" and "socialist market economy" in the People's Republic of China (PRC) that began in the late 20th century, after Mao Zedong's death in 1976. Guided by Deng Xiaoping, who is often credited as the "General Architect", the reforms were launched by reformists within the ruling Chinese Communist Party (CCP) on December 18, 1978, during the "Boluan Fanzheng" period. The reforms briefly went into stagnation after the 1989 Tiananmen Square protests and massacre, but were revived after Deng Xiaoping's southern tour in 1992. The reforms led to significant economic growth for China within the successive decades, considered to be one of the economic miracles in human history. In 2010, China overtook Japan as the world's second-largest economy by nominal GDP, before overtaking the United States in 2016 as the world's largest economy by GDP (PPP). On the other hand, a parallel set of political reforms were launched by Deng and his allies in the 1980s, but eventually ended in 1989 due to the crackdown on Tiananmen Square protests, halting further political liberalization.
The image of Deng Xiaoping in Shenzhen, Guangdong, one of the first special economic zones approved by Deng in 1979
Hu Yaobang, then General Secretary of CCP, played an important role in implementing the reforms together with Zhao Ziyang, then Premier of China.
Shenzhen, one of the first special economic zones of China and the "Silicon Valley of China". Notable high-tech companies such as Huawei, ZTE and Konka were all founded in Shenzhen in the 1980s.
The slogan "Time is Money, Efficiency is Life" from Shekou, Shenzhen, representing the "Shenzhen speed"