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Revision:1953-7 First Five Year Plan

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TSR Wiki > Study Help > Subjects and Revision > Revision Notes > History > 1953-7 First Five Year Plan

Contents

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


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