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Reform Description: The Open Door Policy initiated by Deng Xiaoping to reform the economic system of China by opening to foreign investment and shifting to a mixed economy. Effect on Economy: This led to unprecedented growth with an average increase of GDP by about 9.5% per year.

Reform Description: Urban land reform which allowed for land use rights to be transferred, establishing a land lease system. Effect on Economy: Boosted urban development and foreign investment, signaling a move away from the traditional planned economy.

Reform Description: The Socialist Market Economy was announced, marking a significant shift towards integrating market forces within a socialist framework. Effect on Economy: Created more efficient resource allocation, boosting productivity and economic diversity in various sectors.

Reform Description: China's accession to the World Trade Organization (WTO), which committed China to follow global trade rules and regulations. Effect on Economy: It expanded China's access to international markets and increased foreign direct investment, further integrating China into the global economy.

Reform Description: The 11th Five-Year Plan focusing on enhancing the quality of growth by promoting innovation and increasing consumption. Effect on Economy: Shifted emphasis from quantity of growth to quality, encouraging more sustainable economic development with a focus on high-tech industries.

Reform Description: The economic stimulus package launched in response to the global financial crisis, aimed at increasing domestic demand through infrastructure and social welfare projects. Effect on Economy: Helped maintain robust economic growth during the global downturn and mitigated the adverse impact of the crisis on China's economy.

Reform Description: The announcement of the Belt and Road Initiative to develop trade routes and stimulate economic integration with other countries. Effect on Economy: Aimed to create new trade corridors, improve regional cooperation, and promote infrastructural development, potentially leading to increased trade and economic growth.

Reform Description: The Made in China 2025 plan was launched to upgrade the manufacturing sector towards high-tech industries, emphasizing quality over quantity. Effect on Economy: Increased investments in technology and innovation, aimed at moving the Chinese economy up the value chain into more sophisticated sectors.

Reform Description: Introduced in the late 1970s and early 1980s, allowed farmers to lease land and make production decisions, effectively dismantling collective farming. Effect on Economy: Greatly increased agricultural productivity and incomes in rural areas by allowing market incentives for farmers.