Socialist market economy

社会主义市场经济

社會主義市場經濟

Transcriptions
Standard Mandarin
Hanyu Pinyin	Shèhuìzhǔyì Shìchǎng Jīngjì

Economic systems
Part of a series on
Major types Capitalism Socialism Communism
By ideology Associative Capitalist Corporate Democratic Laissez-faire Mercantilist Neoliberal Neomercantilist Protectionist Social market State Welfare Democratic Fascist Feminist Georgist Green Religious Buddhist economics Christian Sabbath economics Islamic Socialist Anarchist Communalist Communist Market socialist Mutualist Participatory Socialist market Socialist-oriented market State Syndicalist Social credit Distributist Traditionalist Corporatist Feudalism
By coordination Closed (autarky) Decentralized Digital Dirigist Dual Gift Informal Market Mixed Natural Open Planned Robinson Crusoe Sharing Subsistence Underground Vertical archipelago Virtual
By regional model Asian East Asian Chinese Singaporean European Anglo-Saxon German Nordic Dutch Rhenish Soviet Latin America Socialism of the 21st century
Sectors Common ownership Private Public Voluntary
Property types Collective ownership Commons (Common ownership) Private property State ownership Social ownership
Transition Collectivization Communization Corporatization Demutualization Deregulation Expropriation Financialization Liberalization Marketization Municipalization Mutualization Nationalization Privatization Socialization Marxist
Coordination Barter Market Free Open Regulated Planning In kind Cybernetics Indicative Material balancing Price Self-managed Peer-to-peer Sharing Open access
Other types Commons-based peer production Expeditionary Hunter-gatherer Inclusive Democracy Information Manorialism Newly industrialized Palace Plantation Plutonomy Post-capitalist Post-industrial Post-scarcity Resource-based Token Traditional Transition World
Business and economics portal
v t e

Socialism
Part of a series on

History Outline
Development Age of the Enlightenment French Revolution Revolutions of 1848 Socialist calculation debate Socialist economics
Ideas Calculation in kind Collective ownership Cooperative Common ownership Critique of political economy Economic democracy Economic planning Equal liberty Equal opportunity Free association Freed market Industrial democracy Input–output model Internationalism Labor-time calculation Labour voucher Material balance planning Peer‑to‑peer economics Production for use Sharing economy Spontaneism Social dividend Social ownership Socialism in one country Socialist mode of production Soviet democracy Strike action To each according to his contribution/needs Vanguardism Workers' self-management Workplace democracy
Models Communalism Socialist planned economy Decentralized planning Inclusive Democracy OGAS Project Cybersyn Soviet-type Market socialism Lange model Mutualism Socialist market economy Socialist-oriented market Participatory economics
Variants 21st-century African Arab Agrarian Anarchism Authoritarian Blanquism Buddhist Chinese Christian Communism Democratic Democratic road Digital Ethical Ecological Evolutionary Feminist Fourierism Free-market Gandhian Guild Islamic Jewish Laissez-faire Liberal Libertarian Marhaenism Market Marxism Municipal Nationalist Nkrumaism Owenism Popular Reformism Religious Revolutionary Ricardian Saint-Simonianism Scientific Sewer Social democracy State Syndicalism Third World Utopian Yellow Zionist
People Gracchi Brothers Mazdak Ball More Winstanley Morelly Hall Saint-Simon Buonarroti Owen Fourier Thompson Hodgskin Schulz Leroux Babeuf Pecqueur Sue Blanqui Ledru-Rollin Dézamy Considerant Proudhon Blanc Andrews Herzen Bakunin Marx Engels Wallace Lavrov Pi Lassalle Saltykov Chernyshevsky Tolstoy Michel Morris Jones Bebel Lorenzo Mainwaring Kropotkin Carpenter Sorel Parsons Bernstein Iglesias Parsons León Malatesta Kautsky Wilde Taylor Debs Plekhanov Ferrer Dewey Barone Wells Markievicz Du Bois Gorky Connolly Goldman Gandhi Landauer Berkman Luxemburg Liebknecht Blum Russell Pannekoek Larkin Einstein Trotsky Keller Tawney Schapiro Pankhurst Attlee Lukács Pestaña Korsch Polanyi Peiró Seguí Vanzetti Makhno Cole Gramsci Sacco Petrichenko Tito Maksimov Leval Nagy Durruti Gerhardsen Santillán Day Marcuse James García Ascaso Erlander Orwell Mattick Douglas Montseny Sartre Senghor Allende van der Lubbe Kreisky Mitterrand Chartrand Nasser Mandela Bookchin Dubček Zinn Castoriadis Gorz Thompson Lefort Ward Manley Che Chomsky Gorbachev Scargill Fotopoulos Wolff Ali Lula Holloway Žižek Öcalan Corbyn Sankara West Chávez Hedges Marcos Graeber Varoufakis
Organizations International socialist organizations Socialist parties
Related topics Anarchism Capitalism Communist society Criticism of capitalism Criticism of socialism Economic calculation problem Economic system French Left Left-libertarianism Libertarianism List of socialist economists Market abolitionism Marxist philosophy Nanosocialism Progressivism Socialism and LGBT rights Socialist calculation debate Socialist Party Socialist state Workers' council
Lists Related lists Category By country Socialists Songs
Socialism portal (WikiProject) Communism portal Organized Labour portal
v t e

The socialist market economy (SME) is the economic system and model of economic development employed in the People's Republic of China. The system is a market economy with the predominance of public ownership and state-owned enterprises.^[1] The term "socialist market economy" was introduced by Jiang Zemin during the 14th National Congress of the Chinese Communist Party (CCP) in 1992 to describe the goal of China's economic reforms.^[2]

Originating in the Chinese economic reforms initiated in 1978 that integrated China into the global market economy, the socialist market economy represents a preliminary or "primary stage" of developing socialism.^[3] Some commentators describe the system as a form of "state capitalism",^[4] while others describe it as an original evolution of Marxism, in line with Marxism–Leninism similar to the "New Economic Policy" of the Soviet Union, adapted to the cohabitation with a globalized capitalist system.^[5]

^ Ding, Xiaoqin (1 April 2009). "The Socialist Market Economy: China and the World". Science & Society. 73 (2): 235–241. doi:10.1521/siso.2009.73.2.235. JSTOR 40404550.
^ Vogel, Ezra (2011). Deng Xiaoping and the Transformation of China. Belknap Press. p. 682. ISBN 978-0-674-72586-7.
^ "Socialist Market Economic System". Ministry of Commerce of the People's Republic of China. 25 June 2004. Retrieved 7 March 2018. The development of the economic system with public ownership playing a dominant role and diverse forms of ownership developing side by side is a basic characteristic of the socialist economic system at the preliminary stage…The public economy consists not only the state-owned economy and the collective economy, but also the state-owned and collective component in the mixed-ownership economy. The dominant position of the public ownership is represented that: the public assets have a dominant proportion in the overall assets of the society; the state-owned economy controls the lifeline of the national economy and plays a leading role in the economic development, as is from the aspect of the whole country.
^ Cui, Zhiyuan (2012). "Making Sense of the Chinese 'Socialist Market Economy': A Note". Modern China. 38 (6): 665–676. doi:10.1177/0097700412459700. JSTOR 41702477. S2CID 156702979.
^ Poulin, Maxence (2 October 2021). "Comparative Analysis of the Economic Structure of the Socialist Market Economy of China and the New Economy Policy". International Critical Thought. 11 (4): 519–534. doi:10.1080/21598282.2021.2007502. ISSN 2159-8282. S2CID 244875301. Our thesis is that the modern Chinese mode of production, since 1990s, follows a logic similar to the Soviet one during the NEP era. In the light of the NEP experience, our research shows that the Chinese development strategy shouldn't be understood as trending towards a neoliberal model. It is rather an original evolution of Marxism, in line with the tradition of Marxism-Leninism, adapted to the cohabitation with a globalized capitalist system.