By S. Cheng
A accomplished research of the targeted development of China's industrialization and monetary improvement throughout the research of roughly 100 regulations, protecting the ancient interval of latest China considering the fact that 1949. matters tested comprise how China handled the 5 significant conflicts in rural industrialization, these among rural and state-owned undefined, rural and agriculture, rural collective and personal undefined, rural and concrete inhabitants and rural and concrete economic system. trying to the regulations carried out, this quantity addresses what chinese language features are, why rural humans in China are so bad and why the "miracle" of China's rural happened.
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Additional resources for China's Rural Industrialization Policy: Growing under Orders since 1949
41–2). Establishing the state rural commercial system In the early days of liberation, China’s economy was in chaos with skyrocketing prices and hyperinﬂation. “Price stability is the precondition for developing production and safeguarding people’s lives. We must ﬁrmly maintain the price stability which began this March” (People’s Daily editorial, 11 June 1950). In the countryside, the state established a new commercial system to control rural commerce. ” The Ministry of Trade set up state-owned trade companies nationwide and was responsible for managing national trade, commercial activity and instructing private commercial activity (PRCERMC, commercial volume 1949–52, pp.
Reducing production scale weakened state control The land reform broke the landlord ownership, which was on a large scale, and formed individual small peasant economies, which decreased the scale return of land utilization. At the same time, it was more difﬁcult to manage land owned by more than 400 million farmers. The difﬁculty concentrated on grain levying. The land reform caused difﬁculties for the state to levy public grain. Wen (2000, pp. 153–6) argued that the land reform increased the transaction cost between the state and farmer.
While nationalizing old banks, the state operated a socialist transformation of private ﬁnancial organizations also and brought them into line with the state bank system. In December 1952, through closing, cleaning up, business changing and merging, the state completed the joint state–private ownership for all private ﬁnancial organizations. Then, through the business proxy of the People’s Bank of China and so on, these organizations completed the ﬁnancial socialist transformation. State banks and joint state–private owned banks dominated in savings and loan services.
China's Rural Industrialization Policy: Growing under Orders since 1949 by S. Cheng