In the past four decades, China has experienced several economic and social changes, their economy has developed and basically boomed, especially since the early XXI century. An example of this is their "reform and opening up" policy, starting in the late 70's, they decollectivized their agriculture and opened the country to foreing investment.
The country has experienced some social change as well, due to the prosperity the economy has brought, but compared to the economic changes, the social change has been small. Chinese society still has serious issues like information censorship, human rights violations or lack of enviromental care.