We end with our special series "Chinese Terminology", We have 18 special terms this time around, and we're bringing you a fresh one every day on China-24. Today Jeff Moody looks at the phrase "Black Cat White Cat". I'm Jonathan Betz in Beijing. Thanks for watching.

When you hear the phrase Black Cat White Cat, you're probably expecting me to talk about feline friends. 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 China's senior 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 the planned or the market economy, that economy is only a means of allocating resources - it's 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 Xiaoping 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 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.