Question

The present day rapid industrial growth in China can be traced back to the economic reforms introduced in 1978, where ________ . 
(Choose the correct alternative to fill in the blank): 
(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 introduced significant economic reforms: Reforms began in agriculture, foreign trade, and investment, setting the stage for rapid industrial growth. The policy of dual pricing allowed state-set prices to coexist with market-driven prices, encouraging private sector growth. The government introduced Special Economic Zones (SEZs) rather than revoking them, to attract foreign investment and boost exports.