Since 1949, the Chinese government has been responsible for planning and managing the national economy. But it was only in 1978 – when Deng Xiaoping introduced capitalist market principles –that the Chinese economy began to show massive growth, averaging 10 percent GDP growth over the last 30 years.
The Industrial Revolution was the transition to new manufacturing processes in the period from about 1760 to sometime between 1820 and 1840. This transition included going from hand production methods to machines, new chemical manufacturing and iron production processes, the increasing use of steam power, the development of machine tools and the rise of the factory system.
HEBEI LIGHT INDUSTRIAL PRODUCTS IMP. & EXP. GROUP was founded in July1974. The registered capital fund is RMB 50.00 million. The company is the Vice-Chairman unit of International Chamber of Commerce of Hebei Province, the Vice-Chairman unit of Hebei Enterprises Federation, and the Vice-Chairman unit of Hebei Chamber of Commerce for Import and Export.
China has one of the most diverse spread of industrial production in the world, fitting for a country that is called 'The World's Factory'. Since 1978, the nation has gradually reduced its reliance on state-owned enterprises (SOEs) – though they still account for 46 percent of China's industrial output, down from 77.6 percent 35 years ago
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