China's economic success has been driven by the dynamic interplay between its modernization and the nation's legal legitimacy. This legitimacy has undergone significant transformations since the early stages of China's economic reforms. The country can be divided into five distinct development periods, each characterized by its own unique logic and drivers. The first period, which began with the establishment of the People's Republic of China, was marked by a focus on agricultural collectivization and the suppression of private enterprise. As the country transitioned to a market-oriented economy, the second period saw the emergence of a diversified economic framework that prioritized rapid industrialization and urbanization. In the third period, China's economic growth was driven by export-oriented growth and foreign investment. The fourth period was characterized by the rapid expansion of domestic consumption and the growing importance of services. In the fifth and final period, China is transitioning towards a consumption-led economy, with a focus on high-quality growth and a more sustainable development path.