This article views the economic development history of New China as a history of openness and constant adjustment. We examine China’s economic development and early open policies from 1953 to 1978, analyze how the nation navigated between planned and open economic models during the formative period. Through a comprehensive review ofthe key Chinese and Western scholarship, investigates major initiatives including the Soviet-assisted 156 Projects, First Five-Year Plan, The policy of Eight Characters and the later “Four Three Plan” of the Western engagement. The study highlights both achievements and challenges, particularly in industrial growth and technology transfer, while assessing the impact of critical events like the Sino-Soviet split. Statistical analysis and quantitative models demonstrate how these early experiments with economic openness, despite ideological constraints and operational difficulties, established crucial institutional and technological foundations for China’s subsequent reform and modernization. The findings offer valuable insights into China’s unique development path and its implications for emerging economies.