China, economically extremely backward before 1949, has become one of the world's major economic powers with the greatest potential, and the overall living standard has reached that of a fairly well-off society.
Economic restructure is one of the most crucial elements of China's reform and opening-up policy. For the first 30 years of the PRC, the government practiced a planned economy system
China's overall economic construction objectives were clearly stated in the Three Step Development Strategy set out in 1987: Step One--to double the 1980 GNP and ensure that the people have enough food and clothing
The "West-to-East Electricity Transmission," the "West-to-East Gas Transmission," and the "South-to-North Water Diversion" are the government's three key strategic projects