what kind of economic system does china use
Economy of China The socialist market economy of China[21] is the world's second largest economy by nominal GDP[1][22][23] and the world's largest economy by purchasing power parity according to the International Monetary Fund (IMF),[24] although China's National Bureau of Statistics denies the latter assessment.[25]
Law of the People's Republic of China Law of the People's Republic of China, officially referred to as the Socialist legal system with Chinese characteristics, is the legal regime of China, with the separate legal traditions and systems of Mainland China, Hong Kong, and Macau.
China China, officially the People's Republic of China (PRC), is a unitary sovereign state in East Asia and the world's most populous country, with a population of around 1.404 billion.[13] Covering approximately 9.6 million square kilometres (3.7 million square miles), it is the world's second-largest state by land area[19] and third- or fourth-largest by total area.[j] Governed by the Communist Party of China, it exercises jurisdiction over 22 provinces, five autonomous regions, four direct-controlled municipalities (Beijing, Tianjin, Shanghai, and Chongqing) and the Special Administrative Regions Hong Kong and Macau, also claiming sovereignty over Taiwan. China is a great power and a major regional power within Asia, and has been characterized as a potential superpower.[20][21]
Anglo-Saxon model Characteristics of this model include low levels of regulation and taxes, and the public sector providing fewer services. It can also mean strong private property rights, contract enforcement, and overall ease of doing business as well as low barriers to free trade.