To the question of the factors of growth of the Chinese economy at the present stage

The study analyses the most significant factors in the growth of the Chinese economic system at the present stage. The “Policy of Reforms and Openness”, the growth of investment activity, the reform of the tax system, the capacious growing domestic market, the placement of industrial production facilities withdrawn from their territories by developed countries, a cheap resource base, and an orientation towards an innovative economy are highlighted among them. Particular attention is paid to the success of the reforms, which was predetermined by the efficient combination of external and internal factors. The paper also examines the pivotal points of the development of the 14th five-year plan of the PRC in 2021-2025, focusing on the quality of growth, the creation of a society of “average income”, a new toolkit for the transformation of China into a scientific superpower, the strengthening of socialism with Chinese characteristics, stopping the economic recession through the introduction of the “double circulation”. Based on the study, the author identifies the fundamental reasons for the Chinese economic miracle, and also briefly examines the possible future stages of the modernization of the People's Republic of China.