china's initial economic reforms were in which sector
Chinese economic reform After three decades of reform, China's economy experienced one of the world's biggest booms. Agriculture and light industry have largely been privatized, while the state still retains control over some heavy industries. Despite the dominance of state ownership in finance, telecommunications, petroleum and other important sectors of the economy, private entrepreneurs continue to expand into sectors formerly reserved for public enterprise. Prices have also been liberalized.[38]
China and the World Trade Organization China became a member of the World Trade Organization (WTO) on 11 December 2001. The admission of China to the WTO was preceded by a lengthy process of negotiations and required significant changes to the Chinese economy. It signified China's deeper integration into the world economy.[1]