The People’s Republic of China (PRC, China) was established on October 1, 1949 – 70 years ago. Since the proclamation of the People’s Republic of China in 1949, the ruling party has been the Chinese Communist Party (CCP). At present, the President of China is Xi Jinping (since 2013).
To date, China is:
- the largest state in the world in terms of population (over 1.395 mln. people);
- ranks third in the world in territory, yielding to Russia and Canada;
- the first economy in the world in terms of GDP (PPP);
- It is a world leader in the production of most types of industrial products, including car manufacturing and consumer demand.
- the largest world exporter (“factory of the world”);
- It has the world’s largest gold and currency reserves.
And all this was achieved in 40 years of economic reform. Let’s take a look together at the main stages of the recent history of China.
