"It doesn't matter if it's a black cat or a white cat. As long as it catches mice, it is a good cat." - Deng Xiaoping
Thise refers to the "reform and opening up" policy of China, which offered cheap labour to foreign investors in return for their knowhow, so they'd import their industries to China. Thus enabling China to continue with their industrialization and adaption of foreign know how despite the Sino-Soviet split.
Black Cat and white cat refer to the USSR and USA respectively.