When did China embrace socialism?
Chinese economic reform
1978
The Chinese economic reform (simplified Chinese:改革开放; traditional Chinese:改革開放; pinyin:Gǎigé kāifàng; literally: 'reform and opening-up'; known in the West as the Opening of China) refers to the program of economic reforms termed "Socialism with Chinese characteristics" and "socialist market economy" in the People's Republic of China (PRC) which reformists within the Communist Party of China - led by Deng Xiaoping - started in December 1978.