Since China adopted Reform and Opening-up Policy in 1978, its economy has experienced a fast and steady development. At present, it is among the world's top economic powers. Its output of agricultural and industrial products such as crops, cotton, meat, cloth, steel, coal and Tvs are outstanding, and its technologies of nuclear energy, biology, computers, aeronautics and astronautics have reached or almost caught up with the world most advanced level.

Since the implementation of Reform and Opening-up Policy, a large number of talents, vast amount of capital and technology have been imported from abroad, thus speeding up Chinese economic development. It is estimated that by the middle of the 21st century, China will have basically achieved modernization, coming up to the standard of the moderately developed countries.

However, in view of Chinese large population, its economice level is not yet high, and it still belongs to countries that have low per capita income. Compared with the developed countries, China still has a long way to go.

Regional difference in China economic development is considerably large. The coastal areas in the east are relatively more prosperous, having a higher level of economic and technological development, a better foundation of industry, agriculture, transportation and communication facilities. The western areas comparatively lag behind. But from a long-term point of view, the western areas have a vast space to develop its industry and agriculture, thanks to rich resources in these areas.

China is implementing Western Region Development strategy, with a view to speed up the economic progress in this region.