Four Modernizations
These reforms were a reversal of the Maoist policy of economic self-reliance. China decided to accelerate the modernization process by stepping up the volume of foreign trade, especially the purchase of machinery from Japan and the West. By participating in such export-led growth, China was able to step up the Four Modernizations by attaining certain foreign funds, market, advanced technologies and management experiences, thus accelerating its economic development. From 1980, Deng attracted foreign companies to a series of Special Economic Zones, where foreign investment and market liberalization were encouraged.