Consistently Obey and Serve the Construction of a Modern and Powerful Socialist Country: The Historical, Practical and Theoretical Logic of China’s Seventy Years of Public Finance Development since 1949

Abstract

The development of China's foreign exchange market has been a remarkable achievement in the past 70 years. The establishment of a new system of socialist market economy in a large developing country that has been devastated by a hundred years of war is also an unprecedented feat in the international financial history. As a result, the People's Republic of China has adhered to the general orientation of serving the development of the national economy – constantly explored and innovated in practice – and blazed a path for building a currency exchange market suited to its national conditions, thus leaving a legacy of historical experience for other developing countries to learn from