"Don't care if the cat is a black cat or a white cat, as long as it catches the mouse, it's a good cat."
Basically for those who are interested in the background of the quote, Deng arose to power at the end of the Cultural Revolution, at the height of Chinese communism ideology when the government was so communist that they broke away from the Soviet's and accused of USSR as "revisionist"; destroyed all of the Buddhist temples in China as "backwards and Confucius," imprisoned the sons and daughters of former capitalists (because there were no current one's left) for being "Western corrupution," and stripped intellectual's of their post in Universities and forced them to "country-side re-education camps" for being "radical leftists against communism." Before he rose to power, Deng himself was denounced and stripped of his political post, and sent down for "re-education."
In little as four or five years, in that kind of environment, Deng has reformed the former Chinese market-command economy to become more capitalistic. Liberalized the political and free-speech in China, that allowed for media/film/journalism criticize the Chinese Communist party which eventually led to the Tienanmen Incident. Deng, confronted tremendous criticism and resistance from the hardliners of the Community party when he tried enact his reform. He used this quote about "black cat" or "white cat" in a speech he delivered to the political cadres to persuade them to be a bit more pragmatic and less ideological about their communism, after 43 million people have died from Great Leap Forward and the Culture Revolution. It was also Deng who eventually issued the order to strike down the student protesters in Tienanmen.
This ambivalent character of Deng, of balancing liberalization versus stability has become a hallmark quality of the Chinese government. See how the Chinese government encourages citizens towards private asset ownership and entrepreneurship, but not towards democratic representation. See how the Chinese government agrees in principle to a Korea/Iran nuke disarmament, but they are more so wary of the stability of Korea/Iran region in the event of a international escalation - that they block the UN Security Council sanctions. Whether the current Chinese/Russian model of free markets but central strong political oligarchy without an ideological emphasis, versus the American model of free markets and free democracy with a strong ideology (leader of the free world), the viability of either models remains to be seem.