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Home >> Major Economic Events of the past 60 Years Here we present economic milestones of the past 60 years that shed light on China's economic miracle.  (full story) 1998: Private sector of the economy 1987: One central task and two basic points' 1983: Household Responsibility System 2008: The Global Financial Crisis 2005: The RMB exchange rate reform 2005: The abolition of the Agricultural Tax 2004: The right to private ownership of property 1999: Non-public economy an important part of the socialist market economy 1997: Joint-stock reform of state-owned enterprises 1996: The reform of the foreign exchange management system 1958: The Great Leap Forward 1956: Joint state-private ownership 1950: The Land Reform 1978: Reform and Opening up Policy 2001: The accession to the WTO 1992: Socialist market economy 1990: The establishment of stock exchanges 1981: Dual-track Price System 1980: Special Economic Zone (SEZ)