Along with the coming of 2000, the PRC had undergone a glorious yet tortuous course of 50 years, amid great changes in Chinese society.
The Third Plenary Session of the CPC 11th Central Committee, held in 1978, made the decision to shift the policy stress to socialist modernization, and implement the strategic decision on reform and opening to the outside world.
Establishment of the Diversified-Ownership Economy
Before the introduction of the policies of reform and opening to the outside world, China had a unitary public ownership economy, which lacked vitality.
The Trend Toward a Coordinated Economic Structure
Since 1978, China has adopted a series of policies and measures giving priority to the development of light industry, expanding the import of top-quality consumer goods, strengthening the construction of basic industry and facilities, and devoting major efforts to developing tertiary industry, so as to make China's economic structure more coordinated, optimized and balanced.