‍When you hear the phrase "Black Cat White Cat," the thought of our feline friends probably jumps to mind. Actually, this expression is a theory that has been widely known since China's reform and opening up. 

It's based on a quote from late leader Deng Xiaoping in the 1960s – "Black cat or white cat, if it can catch mice, it's a good cat." 

In other words, no matter whether it's planned economy or market economy, an economy is only a means of allocating resources – it has nothing to do with the political system.

Capitalism can have a plan, and socialism can have a market. As long as the economy can develop productivity, both can be used in practice.

As a pragmatist, Deng believed engaging in theoretical debates would delay opportunities. He thought empty arguments don't help and truth can only be tested in practice. So, according to him, we should act boldly and not jump to conclusions before trying something.

Does the solution solve the problem it was developed for? That's what matters the most. A solution that meets certain requirements but fails to solve the problem is worthless. He didn't worry about ideological purity, it's the results that count.

And after years of practice, nowadays China has opened up a new road to socialism with Chinese characteristics, and established a socialist market economy.

CGTN's special series “Chinese Terminology,” which was launched on November 26, marks the 40th anniversary of the country's reform and opening-up policy. The episodes, hosted by CGTN anchors Jeff Moody and Jonathan Betz, are aired every day at 20:15, 12:00 and 16:00 BJT.