People's Republic of China

China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population of around 1.4 billion in 2019. It is led by the Communist Party of China (CPC). The Chinese constitution states that The People's Republic of China "is a socialist state under the people's democratic dictatorship led by the working class and based on the alliance of workers and peasants," and that the state organs "apply the principle of democratic centralism."

The question of "is modern China socialist?" is one that is fiercely debated in many leftist spaces, it has been accused of abandoning their path towards socialism altogether, and even many marxists loyal to China believe that without great economic and political reforms, it may not reach it's famed goal of abandoning their special economic plan and embracing a socialist economic structure. Supporters of China point towards chinese economic growth, social welfare, and nationalization programs, as proof that it is on track to socialism by 2050.

Economy

The current economy of China is a mixed socialist market economy which is composed of state-owned enterprises and domestic and foreign private businesses,

Since 1990 up until the present day, China has lifted 800 million people out of poverty and claims to be on track to end absolute poverty by the end of 2020.

Since 2010, China had the world's second-largest economy in terms of nominal GDP, totaling approximately US$13.5 trillion (90 trillion Yuan) as of 2018. In terms of purchasing power parity (PPP GDP). Between 2010 and 2019, China's contribution to global GDP growth has been 25% to 39%.