The People’s Republic of China is the world’s most populous country, with a population of around 1.4billion. One of the world’s earliest civilizations, its political system was based on dynasties, eventually ending in 1912. In 1949, the Communist Party established the PRC. Since the introduction of economic reforms in 1978, China’s economy has been one of the world’s fastest-growing. It is a permanent member of the United Nations Security Council.