TSR Wiki > Study Help > Subjects and Revision > Revision Notes > History > 1953-7 First Five Year Plan
Aims
- State Directed Growth of Heavy Industry
Nature
- Establishment National Resource Committee
- Take advantage of doubling in urbanisation rate
- Took control of inflation
- 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
Comments
