Socialist transformation of most private industry is declared substantially complete

The currency reform replaced the early renminbi at a ratio of 10,000 old yuan to one new yuan. The change simplified accounting after the postwar inflationary period and supported national fiscal...

The legislature formally approved the 1953–1957 plan after implementation had already begun. It set targets for industrial construction and major infrastructure, with Soviet-supported projects and...

The Party called for a faster expansion of agricultural producer cooperatives. The move came as leaders sought to mobilize rural resources for industrial growth and to reduce the risks of individual...

Mao’s speech considered the balance between heavy and light industry, coastal and inland investment, central and local authority, and state, collective and individual initiative. It acknowledged the...

The Congress declared that socialist transformation of ownership was largely complete and made the development of productive forces a central task. It recognized the tension between an advanced...

Mao’s speech on contradictions among the people invited criticism and debate, partly in response to concerns about bureaucratism and the relationship between party and society. Intellectuals,...

A People’s Daily editorial signaled the start of a campaign that labeled many critics as rightists. People were dismissed, demoted, sent to labor or silenced. The campaign narrowed the space for...

The second session of the Eighth Party Congress endorsed a drive to achieve rapid industrial and agricultural growth through mass mobilization. The campaign sought to close the gap with advanced...

A resolution promoted large communes combining administration, production and social services. Communes could coordinate irrigation, infrastructure and rural industry, but they also enabled the...

A follow-up resolution addressed problems emerging from the rapid formation of communes and clarified their economic organization. The need for correction reflected the gap between the Great Leap’s...