Thirty Years of Turbulence - Chinese Enterprises

作者：admin  点击次数：8  发布时间：2025-07-28

Life suddenly becomes unbearable, which many people did not expect.

After nearly three years of reform, China has completed a "baptism" in politics, and reform has become the mainstream on the stage. The public trial of the "Gang of Four" has made the whole nation deeply condemn leftist ideology. ① In rural areas, the joint production contract responsibility system, which originated in Fengyang, Anhui, has been widely popularized, greatly mobilizing the production enthusiasm of farmers; In cities, the pilot reform of state-owned enterprises is expanding, and sporadic individual economies have emerged in the retail business sector. According to many observers at the time, it was a rare and favorable economic situation since the founding of the country. Along with this, the central finance has encountered serious difficulties. The most significant sign is the continuous occurrence of huge fiscal deficits in 1979 and 1980. According to the data disclosed in the China Economic Yearbook (1981), the deficit was over 17 billion yuan in 1979 and over 12 billion yuan in 1980. By 1980, prices had become unstable, with commodity prices rising by 6%, including 8.1% in urban areas and 4.4% in rural areas.