China's economic system

What kind of economy is China? It's market-based, Planned, capitalist, socialist, Development, developed, mature, retarded, modern, or traditional?

Today, if a casual observer walks down the main boulevards of Shanghai, Guangzhou or Beijing, he or she will see flashy designer shops, expensive foreign cars and residents with the latest model of smartphone or tablet in their hands. He will certainly be surprised at the considerable wealth, high standard of living and fast pace of life. At first glance, there is no difference between Chinese, Japanese or Korean cities and cities in the USA or Europe. A visit to these metropolises can easily lead to the idea that China is the standard modern market economy of today. But is this really the case?

Defining the nature of the Chinese economy is one of the main objectives of this book. The author focuses on the inconsistency between China's undeniably modern economy and the continued state ownership and key influence of the state in the economy. The question is, whether continued state ownership is a short-term anomaly, a sort of relic of a bygone era, which is disappearing from China as fast as absolute poverty, or, on the contrary, it is a key element of the economy, on which the entire economy is built and grows. This and other related questions can be answered with the help of this book.