what kind of economic system china has at present
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]
Town A town is a human settlement. Towns are generally larger than villages but smaller than cities, though the criteria to distinguish them vary considerably between different parts of the world.
Three-field system Previously a "two field system" had been in place, with half the land being left fallow. With more crops available to sell and agriculture dominating the economy at the time, the three-field system created a significant surplus and increased economic prosperity.[1]
G20 A 2011 report released by the Asian Development Bank (ADB) predicted that large Asian economies such as China and India would play a more important role in global economic governance in the future. The report claimed that the rise of emerging market economies heralded a new world order, in which the G20 would become the global economic steering committee.[40] The ADB furthermore noted that Asian countries had led the global recovery following the late-2000s recession. It predicted that the region would have a greater presence on the global stage, shaping the G20's agenda for balanced and sustainable growth through strengthening intraregional trade and stimulating domestic demand.[40]