China, with a recorded history of 5,000 years, was one of the world’s earliest civilizations. China was one of the countries where economic activity first developed. As early as 5,000 to 6,000 years ago, people in the Yellow River valley had already started farming and raising livestock. In the 21st century B.C., China established a slave society with the founding of the Xia Dynasty.
In 221 B.C., Qin Shihuang established China’s first centralized autocracy, the Qin Dynasty, thereby ushering Chinese history into feudalism, which endured in a succession of dynasties until the Opium War of 1840.
The Bourgeois Democratic Revolution of 1911 led by Sun Yat-sen toppled the rule of the Qing Dynasty, putting an end to more than 2,000 years of feudal monarchical system.
The People’s Republic of China was founded on October 1, 1949. Today, China is implementing reform and open policies, and has established a socialist market economy.