China’s richest village (An example of China's development)

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Huaxi village was formerly a typical poor farming community in East China. But thanks to the flowering of township enterprises and the “opening-up policy” that stimulated the local economy in the past three decades, the small village is now a powerhouse symbol of China’s economic expansion.Huaxi in 1957 was a small village of 576 residents with total assets of $340. In the last five years their revenues have been $35.42 billion USD. The village has grown from a small farming community to an industrial hothouse built on high-tech agriculture, steel manufacturing and textile production. Wu Renbao, secretary of the local branch of the Communist Party is widely credited with the policies that helped the village achieve such success. Over half of Huaxi’s income comes from the Iron and steel industry. - 
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