Deng realized that without a capitalist-based economy, China wouldn't prosper. So, he transformed a state-owned and -operated economy into one that allowed private property, relatively open markets, and international commerce.
In agriculture, state farms that had been collectively run were dismantled. Now, individual farmers could claim a plot of private land, work it, and sell their proceeds. All across the vast rural spaces of China, small-scale private farmers went into business for themselves.
In the industrial quarters of China, the government eased its control over factories and large businesses. The number of state-owned industries decreased, and factory owners began to make decisions without the CCP dictating operations. Businesses then began to seek profits. The CCP even proclaimed that 'to get rich is glorious,' and Chinese-made goods poured into the markets of the world. If you look at many of your clothes and electronics, you're likely to see the 'Made in China' sticker, stamp, or tag. You've probably also heard politicians mention 'bringing jobs back from overseas to Americans'; they're usually talking about bringing jobs back from China.
Due to Deng's reforms, the Chinese economy opened itself up to the world. It exported mass-produced goods and invited foreign investment. Mao would likely be rolling in his grave: China had taken the capitalist road.
