The Development of Chinese Regional Economy and Its Capital Accumulation

Since the reform and opening up initiated in late 1970s in China, an unbalanced approach of developing regional economy has been widely carried out across the country and economic growth at high rate is also realized. It is a necessary stage for a country to experience unbalanced economic developments within different regions. According to the inherent requirements of socialism, a healthy and sustainable economic development is achieved by reaching a common wealth stage, which has to deal with bridging the gap between the wealthy eastern costal areas and the relatively underdeveloped middle and western areas.