​​This book examines how the Chinese state has governed economic development amid the country's transformation over recent decades. It argues that China's rise reflects a governance model in which the state plays a central role in directing investment, fostering innovation, and regulating competition to advance national development goals. The book explores the policies and institutional mechanisms through which the government manages the relationship between the state and the market, showing how competition is reshaped and capital is channeled toward strategic sectors, particularly advanced industries and technologies. It also interprets recent shifts in China's economic policy as a reordering of development priorities rather than a retreat from the market economy, highlighting the distinctive features of China's model of economic governance.