To help incorporate elements of a free market economy, China eased trade regulations.
Market economy
It is an economic system in which economic decisions and the pricing of goods and services are guided solely by the aggregate interactions of a country's individual citizens and businesses.
Economy in China
China is the world's largest manufacturing economy and exporter of goods. It accounted for one-quarter of the global GDP during the 1700s and about one-third of the global GDP in 1820. China has a socialist market economy, which means that state-owned businesses are in the majority.
Thus, to help incorporate elements of a free market economy, China eased trade regulations.
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