China Begins Its First Five-Year Plan
At a glance:
- Series: Great Events from History II: Business and Commerce Series
- Categories: Government and Politics, Economics
- Subcategories: Business
- Curriculum: Asian History
- Geographical Location: China
- Date: 1953
Article abstract: By implementing the First Five-Year Plan, China started centrally planned large-scale national economic development.
Summary of Event
The implementation of China’s First Five-Year Plan was the beginning of the country’s centrally planned economic development and industrialization. From 1953 to 1957, production more than doubled; numerous factories, roads, and dams were built. By 1957, 97 percent of land was collectivized, or put under state control. The Great Leap Forward in 1958 attempted to decentralize the economic management...
[The entire page is 2489 words long]
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