Modern Chinese education system underwent profound changes since the establishment of the People's Republic of China in 1949, over the past few decades. In 2021, for students enrolled in compulsory education, the Chinese government has proposed a strategy to lessen the weight of excessive homework and off-campus tutoring. This so-called Double Reduction policy has laid a hard restriction on the decentralization and the capitalized operation of education system. It is a milestone for Chinese education system reformation. The educational industry in China has also received a knockout, especially for those private-owned education and training institutions focusing on primary and secondary education. Through literature review, this paper examines the trajectory of the Chinese educational system's growth and identifies a number of crucial elements that have shaped the sector, including societal trends, political upheaval, and global and economic trends. These elements are tremendously affecting Chinese education policymaking. Due to the unique influence of the factors, policy-makers should attach more significance to them, which would make the impact more suitable for the society.