History, China 1983,

Thanks to Deng Xiaoping's policy of reform and opening-up, China has integrated into the global financial system.

China’s reform and opening-up has been closely intertwined with the development of China-U.S. relations. The two nations formally established diplomatic ties in 1979, the same year Deng Xiaoping undertook a historic visit to the United States. This pivotal moment opened the door for China to import Western capital, technology, and advanced management expertise, laying the foundation for the country's economic takeoff and integration into the global market. Throughout the early stages of reform and opening-up and the decades that followed, the United States played multiple key roles in the bilateral relationship: in economic and trade cooperation, the U.S. long served as one of China’s largest trading partners, providing a vast consumer market and much-needed technology, while bilateral trade became deeply integrated into global supply chains; regarding the alignment of rules and systems, exchanges in fields such as science, technology, and education—along with U.S. support for China’s accession to the World Trade Organization (WTO)—significantly advanced the establishment and refinement of China’s market-oriented economic system.