Socialism with Chinese characteristics (simplified Chinese: 中国特色社会主义; traditional Chinese: 中國特色社會主義; pinyin: Zhōngguótèsè shèhuìzhǔyì) is the official ideology of the Communist Party of China (CPC) based upon scientific socialism. This ideology supports the creation of a socialist market economy dominated by the public sector since China is in the primary stage of socialism. The Chinese government maintains that it has not abandoned Marxism but has developed many of the terms and concepts of Marxist theory to accommodate its new economic system. The CPC argues that socialism is compatible with these economic policies. In current Chinese Communist thinking, China is in the primary stage of socialism—a view which explains the Chinese government's flexible economic policies to develop into an industrialized nation.
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Famous quotes containing the word socialism:
“This socialism will develop in all its phases until it reaches its own extremes and absurdities. Then once again a cry of denial will break from the titanic chest of the revolutionary minority and again a mortal struggle will begin, in which socialism will play the role of contemporary conservatism and will be overwhelmed in the subsequent revolution, as yet unknown to us.”
—Alexander Herzen (18121870)