This book provides unique insight into the economic system, structures, and policies that define modern China and its position within the changing global economy. It charts China’s rise from poor developing country to major power within the global economic system and international politics. The drivers of this change, including the specific nature of the Chinese economy and governance, are discussed to highlight the processes and socio-economic initiatives that have helped China become a global superpower. The book examines in detail all major areas of societal development and policy-making, including the different social fields and everyday behavior, as well as regional, urban, ethnic, cultural, and ecological developments. Particular focus is given to technology, industrial and economic policies, income distribution, and the Belt and Road Initiative. This book offers a thoughtful guide to how China has evolved from a centrally planned economy towards state-guided growth with a socialist tendency that makes highly effective use of markets. It will be relevant to students and researchers interested in the political economy and the role of China within the global economy.