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A Great Victory for Mao Tse-Tung'S Thought on the Financial and Monetary Front â China'S People's Currency [>u>Jenmin-Pi>/u>] Has Become an Exceptionally Stable Currency Of The World

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  • Hung Yin-hang

Abstract

Vice Chairman Lin Piao solemnly announced in his report to the Ninth National Congress of the Chinese Communist Party: "As is pointed out in the âSixteen Articles,â âThe Great Proletarian Cultural Revolution is a strong driving force behind the development of the productive force of our society.â We have had bumper harvests for successive years. Industrial production, science, and technology have also been flourishing. The activism of the broad working people in revolution and production has been unprecedentedly high. Many industrial and mining enterprises are continually breaking their own records, production has reached the highest level in history, and the revolution in techniques continues to develop. The market is thriving and prices are stable. We completely repaid our national debt by the end of 1968. China has become a socialist nation without foreign or domestic debt." This is an encouraging and great event in our political and economic life.

Suggested Citation

  • Hung Yin-hang, 1970. "A Great Victory for Mao Tse-Tung'S Thought on the Financial and Monetary Front â China'S People's Currency [>u>Jenmin-Pi>/u>] Has Become an Exceptionally Stable Currency Of The World," Chinese Economy, Taylor & Francis Journals, vol. 3(3), pages 179-190, April.
    • Handle: RePEc:mes:chinec:v:3:y:1970:i:3:p:179-190
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