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Economic Adjustment and the Rate of Growth

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  • Ma Hong

Abstract

In pursuit of the party line laid out at the Third Plenary Session of the Eleventh Congress, the party center in April 1979 called a work conference at which it brought up an eight-character policy, "adjustment, reform, restructuring, and improvement," to deal with the national economy. The policy was formulated after a penetrating analysis of the concrete situation of our economy and its trend of development. The adjustment is not confined to elimination of the immense budget deficits, to stabilization of prices, or to curbing of inflation. It is far more than these. As Premier Zhao Ziyang pointed out in his report on the government work, the policy rather is intended to set the national economy on a course of steady growth and healthy development and to bring about better economic results and more benefits to the people. In effect, it is a crucial shift of our strategy in socialist economic development.

Suggested Citation

  • Ma Hong, 1983. "Economic Adjustment and the Rate of Growth," Chinese Economy, Taylor & Francis Journals, vol. 17(1), pages 74-87, October.
    • Handle: RePEc:mes:chinec:v:17:y:1983:i:1:p:74-87
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