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Journey through three amazing decades

(China Daily)
Updated: 2008-12-18 07:45

1987

KFC makes entry

Kentucky Fried Chicken opens its first outlet in Beijing.

The first American fast food chain to set foot on the mainland, it quickly becomes one of the most popular restaurant chains.

Three years later, the 'golden arches' also begins to spread across the mainland following the opening of the first McDonald's outlet in Shenzhen, Guangdong province.

1988

Rocket fired from sub

China conducts the first experiment to blast carrier rockets underwater from nuclear-powered submarines, giving the PLA the capability to launch long-distance nuclear strikes.

1990

Stock market

Shenzhen Stocks Exchange and Shanghai Stocks Exchange both officially open in December. The two establishments are considered engines to drive China's market economy. Previously, stock markets were reviled as a symbol of capitalism, so their arrival symbolizes China's opening up and weaning off the "iron rice bowl".

Pudong development

The State Council approves a proposal raised by the Shanghai municipal government to develop its Pudong area. Preferential monetary policies are approved to facilitate its development, which fuels the lightning growth of Shanghai.

1992

Famous tour down south

Deng Xiaoping tours southern China's special economic zones and shows his support for the country's opening-up policy by pressing for faster economic reforms, thus sparking a fresh wave of market growth.

1993

Coupons are history

Commodities were scarce during the early days of the People's Republic of China, prompting a rationing system in the 1950s with coupons issued for products.

But following the growth of industrial and agricultural production, Chinese homes bid goodbye to ration coupons as the country begins to loosen control of most commodities prices.

1994

Global connection

China becomes the 77th country to connect to the Internet. The commercialization of the Internet starts in 1995 when Ding Lei, quits his job to set up Netease.com. About 220 million people in China were connected by the end of 2007, making it home to the largest number of netizens.

1995

Two-day weekend

China begins a five-day work week on May 1 to promote work efficiency, tourism and consumption. This change greatly boosts the country's leisure time and cultural and tourism development.

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