A History of Private Enterprise in China
March 21, 2013
In December 1978, China began a series of economic reforms collectively termed as the “Reform and Opening Up” policy led by Deng Xiaoping, through which the country embraced “socialism with Chinese characteristics”. Since then, China’s policy makers have walked a winding path towards prosperity, herding the nation’s behemoth state-owned enterprises (SOEs) and an increasingly vibrant private sector in tow. From the first tentative steps of market pricing under a rigid family unit system in 1978, to bold strides in international economic participation with China’s ascension to the World Trade Organization in 2005, the country has been striving to build a resilient economy.
This infographic maps the journey undertaken by private enterprises in China over the past 35 years, and highlights the major milestones along the way—from tax reforms, the beginnings of foreign investment and SOE restructuring.
Enjoying what you’re reading?
CKGSB Report
Related Articles
Our Programs
New Energy and the Disruption of Traditional Industries
Global Unicorn Program Series
The Global Unicorn Program in New Energy and the Disruption of Traditional Industries – presented jointly by CKGSB and University of Sydney – will emphasize Australia’s distinctive contributions.
LocationSydney, Australia
DateFebruary 11-14, 2025
LanguageEnglish
Asia Start
Asia Start provides entrepreneurs and executives with unparalleled access to Asia’s dynamic digital economy and its business ecosystems, offering the latest trends and insights, strategies, and connections to overcome challenges and unlock future growth for your business in Asia and beyond.
LocationBeijing, Shenzhen, Hong Kong
DateMarch 24-28, 2025
LanguageEnglish
AI-Driven Healthcare Innovation Program
Global Unicorn Program Series
The 2025 Artificial Intelligence (AI)-Driven Healthcare Innovation Program stands at the forefront of addressing the critical need for innovative healthcare solutions powered by artificial intelligence.
LocationJohns Hopkins University, Washington, D.C.
DateMay 5-9, 2025
LanguageEnglish
Scaling Innovation: AI and Digital Strategies for Business Transformation
Global Unicorn Program Series
This program is designed to equip senior executives with the strategic insights and tools necessary to lead in this transformative era.
LocationNew York, USA
DateJune 23-27, 2025
LanguageEnglish
Global Unicorn Program: Scaling for Success in the Age of AI
Global Unicorn Program Series
In collaboration with the Stanford Center for Professional Development (SCPD), this CKGSB program equips entrepreneurs, intrapreneurs and key stakeholders with the tools, insights, and skills necessary to lead a new generation of unicorn companies.
LocationStanford University Campus, California, United States
DateSeptember 29 – October 3, 2025
LanguageEnglish
Emerging Tech Management Week: Silicon Valley
Co-developed by CKGSB and UC Berkeley College of Engineering, this program equips participants with proven strategies, cutting-edge research, and the best-in-class advice to fuel innovation, seize emerging tech developments, and catalyse transformation within your organization.
LocationUC Berkeley
DateNovember 2-7, 2025
LanguageEnglish
