Thirty Years of Turbulence - Chinese Enterprises

作者：admin  点击次数：1  发布时间：2025-06-17

The most significant political event of that spring was the rehabilitation of former President Liu Shaoqi by the Central Committee of the Communist Party of China. At the Fifth Plenary Session of the Eleventh Central Committee of the Communist Party of China held on February 23, 65 year old Hu Yaobang was elected as the General Secretary of the Communist Party of China Central Committee, and a group of younger cadres were promoted to important leadership positions, including Wan Li and others who vigorously promoted the joint production and contracting responsibility system in Anhui and Sichuan in the previous two years. Liu Shaoqi, who was labeled as a "traitor, traitor, and worker" 14 years ago, has officially regained his political reputation and a large number of wrongful cases arising from it have been vindicated. Deng Xiaoping, who was full of ambition, said in his speech at the meeting that after resolving the political and ideological lines, the future work should focus on studying institutional reform.

Deng Xiaoping obviously wanted to focus the attention of the whole country on the reform of the economic system. By the end of the previous year, there were already 4200 state-owned enterprises conducting pilot projects to expand their autonomy nationwide. In 1980, the number had increased to 6600, accounting for about 16% of the total number of industrial enterprises within the national budget. Their output value and profits accounted for about 60% and 70%, respectively. The key state-owned enterprises in the eyes of the central and local governments have basically been put into the basket of "pilot" projects.