Socialism with Chinese characteristics

Socialism with Chinese characteristics (Chinese: 中国特色社会主义; pinyin: Zhōngguó tèsè shèhuìzhǔyì; Mandarin: [ʈʂʊ́ŋ.kwǒ tʰɤ̂.sɤ̂ ʂɤ̂.xwêɪ.ʈʂù.î] ) is a term used by the Chinese Communist Party (CCP) and the People's Republic of China (PRC) to encompass its political theories and policies. The term was first established by Deng Xiaoping in 1982 and was largely associated with Deng's overall program of adopting elements of market economics as a means to foster growth using foreign direct investment and to increase productivity (especially in the countryside where 80% of China's population lived) while the CCP retained both its formal commitment to achieve communism and its monopoly on political power.

Source: Wikipedia — Socialism with Chinese characteristics (CC BY-SA 4.0)