Chinese Economic Reform refers to a series of policies initiated in the late 1970s under the leadership of Deng Xiaoping. These reforms aimed to transition China from a centrally planned economy to a more market-oriented economy, allowing for private ownership and foreign investment. This shift led to significant economic growth and lifted millions out of poverty. The reforms included the establishment of Special Economic Zones (SEZs) where foreign businesses could operate with fewer restrictions. Over the years, these changes transformed China into one of the world's largest economies, significantly impacting global trade and economic dynamics.