The essential objective of this article is to demonstrate that China, the largest emerging-market economy (EME), is surfeited with the characteristic features of an EME. It is well on its way to acquire the status of a matured industrial economy. The author follows China’s stellar growth path and the dramatic economic transformations that it underwent. The essential focus of this article is the characteristic features of the Chinese economy, like the status of the newly emerging private sector and the rapidly emerging middleclass. As rapid industrialization progressed, China not only has a leadership position in regional and global trade and foreign investment but also it became a hub of the global supply chains. It contributed to the global recovery from the Great Recession (2007-09) and helped stabilize the global economy.