Question

The present-day rapid industrial growth in China can be traced back to the economic reforms introduced in 1978, where ________ . 
(i) Initially reforms were initiated in agriculture, foreign trade, and investment sectors 
(ii) The policy of dual pricing was adopted 
(iii) The Government revoked the policy of Special Economic Zones

• A. Only (i)
• B. Only (ii)
• C. (i) and (ii)
• D. (i), (ii), and (iii)

Hint:

China’s 1978 reforms focused on agriculture, foreign trade, and dual pricing, laying the foundation for industrial growth.

Answer 1

The Correct Option is C

In 1978, China initiated substantial economic reforms. These reforms targeted agriculture, foreign trade, and investment, thereby facilitating rapid industrialization. The implementation of a dual pricing policy, which permitted both state-determined and market-based prices to operate concurrently, stimulated private sector involvement. The establishment of Special Economic Zones (SEZs) occurred subsequently, rather than being revoked, to boost exports and draw in foreign capital.