The changes in China's economy since the 1990s have resulted in China's shift to larger market economy reforms.
Explanation:
One of the most remarkable point of this tremendous transformation was the rapid rise in growth of private sectors.
The government introduced a company law that allowed the private individuals to own fixed liability concerns. Several competition laws were introduced to unify the internal market.
It allowed direct foreign investment in the country, removal of tariffs and abolishing the state monopoly. Specific state-run monopolies like the oil and banking sectors were introduced.