In 1949, the People’s Republic of China (P.R.C.) was founded. Since then it has seen fast economic development which can roughly be divided into two stages: planned economy and market economy. China’s economic development, especially the amazing achievements made after the adoption of the reform and opening-up policy—so-called “the Chinese Miracle”, has attracted worldwide attention. This book objectively presents contemporary China's economic policies and practices in the course of transformation from planned economy to market economy with rigorous data and detailed information.