Business Guide

• Brief Overview of China History

 

China has one of the four oldest civilizations in the world. Its civilization originated in various city-states along the Yellow River valley in the Neolithic era. The written history of China begins with the Shang Dynasty from 1550 BCE and was followed by the remaining dynasties until 1911. In 1911, the last dynasty, the Qing Dynasty, was overthrown and Dr. Sun Yat-sen became the first president of the Republic of China. From there the modern history of China begins. In 1949, Mao Zedong and the communists defeated the Nationalists under Chiang Kai Shek and founded the People’s Republic of China. In 1978, Deng Xiaoping became the leader of the country and start reform the country toward market-oriented and de-centralized economy and adapt open door policy to the world. Economic output quadrupled by 2000 and is still surging at 9% a year in average. In 2003, China secure the bid for the entry to the World Trade Organization. October 2007 saw the official guarantees on private property, a clear step away from traditional hardcore communism. In 2003, the Party changed its statutes to accept a new category of members - “Red capitalists.”

 

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