Answer:
The Four Modernizations was an economic reform program in the People's Republic of China dating back to 1975 and Chinese Prime Minister Zhou Enlai. In 1978, two years after Mao Zedong's death, the Chinese Communist Party decided to implement this program, which aimed at modernizing the country's industry, agriculture, defense, and its science and technology.
The first changes took place in the countryside. The peoples' municipalities were dissolved and the land given back (albeit only as rented land) to the peasants; thus, they created the basis for an agricultural production that generated surplus production quotas. The farmers could sell this surplus at a profit in the markets. In less than eight years, the country's average income tripled.
But it was the creation of special economic zones in several coastal provinces from 1980 onwards that became the engine of the Chinese economic downturn. Both founding of private companies were allowed and the legal framework for tightening foreign investment was created.