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Columns

Raymond Zhou:
By jingo, they're mad!

Op Rana:
Consumerism and politics of waste

Li Xing:
Traffic foes ruin trips to scenic spots

Ravi S. Narasimhan:
Lessons from SARS have to be applied

Alexis Hooi:
Beyond the death and destruction

Journey through three amazing decades

(China Daily)
Updated: 2008-12-18 07:45

1996

Convertible yuan

China allows the yuan to be convertible on the current account, a significant move that allows the frees flow of money for imports and exports.

In 2005, China freed the yuan from the dollars' peg, letting it float within a tightly managed band.

1997

SOEs reform

From September 12 to 18, 1997, the 15th National Congress of the CPC convenes in Beijing. Among many decisions, the congress announces plans to reform, sell, merge, or eliminate the vast majority of SOEs.

Hong Kong 's return

Under the policy of "one country, two systems", on July 1, 1997, China resumes sovereignty over Hong Kong, ending more than 150 years of British control.

On December 20, 1999, China resumes sovereignty over Macao, ending 442 years of Portuguese rule.

Deng passes away

Deng Xiaoping, the chief architect of China's economic reform and socialist modernization, dies from complications associated with Parkinson's disease.

1999

Western development

On March 22, the State Council stipulates 10 measures for the further development of western China, covering six provinces (Gansu, Guizhou, Qinghai, Shaanxi, Sichuan and Yunnan), five autonomous regions (Guangxi, Inner Mongolia, Ningxia, Tibet and Xinjiang) and one municipality (Chongqing).

Over the past nine years, China's western regions have upgraded their infrastructure, economic prosperity, social structures and the environment.

2000

Economic miracle

China's GDP surpasses $1 trillion, making the country sixth in economic volume that year.

The country's foreign exchange reserves reaches $1 trillion in October, 2006, making it the top in the world.