First published in 1967.

Based on original Chinese sources, including the press and government documents, this book describes the operation of the Chinese economy in the twentieth century. Certain trends become apparent, notably the extent to which China's economic life is decentralized and the tendency towards self-sufficiency within provinces and smaller administrative units.

Among the topics covered are: Agriculture, the organization of large and small scale industry, mining and transport, management and labour in state enterprises.

The fiscal system, together with the operation of the banks and the control of currency, credit and prices, and economic planning are also discussed.