Since the beginning of reform and opening-up, especially since the 18th National Congress of the Communist Party of China, China has made remarkable achievements in economic and social development. As the second largest economy in the world, China has explored an economic development model different from that of western developed countries. By collecting and analyzing thefiguresthe figures in various areas, including economic growth, income distribution, prices, consumption, investment, import a

China has risen peacefully from its spectacular economic
development of over four decades. It pursued successful economic
reforms and opening-up to foreign trade and investment. China has
accumulated precious experience in the gradual implementation
of economic reform. China’s economic rise is a worldwide
miracle since the Industrial Revolution, attracting international
attention that wonders about the whole story of China’s economic
development. China’s rapidly growing economy has reshaped the
world’s economic landscape, as well as people’s understanding of
successful economic development theories and practices. China’s
story of success is a typical case of fast economic development
different from those of the western developed countries, who
adopted the conventional methodology and strategy.

From the year 1978 to 2019, China’s productivity gains and
overall national power have reached a new high level, as indicated
by the following figures: Its GDP increased from 364.5 billion Yuan
to 99.1 trillion Yuan, making China the second-largest economy in
the world; its total imports and exports increased from 20.6 billion
US Dollars to 4.58 trillion US Dollars, once again the world’s
largest trade power; its foreign exchange reserves increased from
167 million US Dollars to 3.11 trillion US Dollars, ranking first in
the world; its raw coal production increased from 618 million tons
to 3.85 billion tons; its crude oil production increased from 104 million tons to 191 million tons; its power generation increased
from 256.5 billion kilowatt-hours to 7,503.43 billion kilowatt-hours;
its steel production increased from 22.08 million tons to 120.474
million tons; its amount of automobile production increased from
149,100 to 25.528 million; the per capita disposable income of its
urban residents increased from 343 Yuan to 42,359 Yuan, and the
per capita net income o

Introduction Over the past four decades, China has had an unusual path of economic development. The whole world witnessed its unprecedented performance since Chinas economic system reform and opening-up. Chinas economic development is a miracle unseen since the Industrial Revolution, and the international community is wondering about the whole story behind this Mystery of the Century. (1) Making the Most of Chinas System Advantages / 003 (2) The Miracle of Chinas GDP Growth / 005 (3) The Miracle of Chinas Industrial Structure Upgrade / 008 (4) The Miracle of Chinas Further Opening-Up / 011 (5) The Miracle of Chinas Much Bettered Living Standards / 015 Gross Domestic Product (GDP) is the total value of all final products and services created in the economic operation of a country or region in a certain period of time (usually a year or a quarter). It is often regarded as a representative index of the economic condition and development level of a country or region. (1) How Big Is Chinas Economy / 025 (2) How Fast Is Chinas Economic Growth / 027 (3) Why We Emphasize Economic Growth / 029 (4) Where Does Chinas Per Capita GDP Stand / 032 (5) What GDP Tells Us / 033 (6) Why GDP Must Grow / 037 (7) How Large Is Chinas Regional Gap / 039 (8) Is Chinas Economic Growth Efficient / 040 (9) Why We Must Reduce the Cost of Chinas Economic Growth / 043 The income level reflects the living standard of residents in a country or region. Since the reform and opening-up, the income level of urban and rural residents in our country has been increased significantl, especially since the 21st century, when the increase further accelerated. (1) Income Level / 049 (2) Income Distribution Ratio?DHow to Balance the “Two Pockets” / 050 (3) Is the Tax Burden Heavy in China / 052 (4) How Revenue Is Distributed / 054 (5) How Large Is the Rich-Poor Gap / 056 (6) How High Is the Income of High-Income Families / 0