In 1949, the People's Republic of China (PRC) was founded. Since then it has seen fast economic development, which can roughly be divided into two stages—the planned economy and the market economy. China's economic development, especially the achievements made after the adoption of the reform and opening-up policy, 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. With its rapid development, China has become the second largest economy in the world. As the people of the world become more and more involved with the global market due to globalization, they lack knowledge about China's economic policies. This book can help them better understand the historical background, the development process, and the overall features of the contemporary Chinese economy.