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We present a structural driver decomposition framework to distinguish three competing explanations for economic structural changes in the Chinese economy: good policies, good practices and good luck. Empirical results suggest that structural changes in the Chinese economy can be divided into three clear phrases: the Great Fluctuation (1993)(1994)(1995)(1996)(1997), the Great Moderation (1998)(1999)(2000)(2001)(2002)(2003)(2004), the Great Stability since 2005. We fi nd that the dramatic fldoi:10.33788/rcis.65.14 fatcat:q3gr57ynxje2vhubfswbvymq64