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

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Contents 1 Aims 2 Nature 3 Effects 4 Comments

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

Comments