1953-7 First Five Year Plan
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• Aims
• State Directed Growth of Heavy Industry
• Nature
• Establishment National Resource Committee
• Take advantage of doubling in urbanisation rate
• Took control of inflation
• 1949 = 1,000%
• 1951 = 15%
• Achieved by
• Slashing Public Expenditure
• Raising Taxation
• Dollar  Renminbi
• Show Projects
• Road and Rail Bridge across Yangzi at Nanking
• Development of Industry
• Coal
• Steel
• Petro-Chemicals
• Automobile and Transport
• Effects
• Massive growth in output across the board.
• Much financed by Russia (95% loans)
• Deterioration in relationship

Other Notes in this Category

1. 1949 Immediate Actions
2. 1949-1952 Consolidation
3. 1953-7 First Five Year Plan
4. 1957 Hundred Flower's Campaign
5. 1958-1962 Great Leap Forward
6. 1962-1966 Power Struggle
7. 1966-70 Cultural Revolution

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