ABSTRACT

China's First Five-Year Plan to build socialism was started in 1953. During the three-year recovery period, China's industrial and agricultural output grew very fast. Between 1949 and 1952, agricultural output grew by 48.5%, at an average annual rate of 14.1%. Industrial output grew by 145%, at an average annual rate of 34.8%. Among industrial output, light industrial output grew by an average annual rate of 29%. And heavy industrial output grew by an average annual rate of 48.8%. Of course, to a very large extent, these growth rates were only characteristic of the recovery period. They are impossible to achieve under normal circumstances. Because agriculture, light industry, and heavy industry grew at different rates, their proportions in the gross industrial and agricultural output *1 had started to change. From 1949 to 1952, the relative share of agriculture declined from 70% to 58.5%, the share of light industry increased from 22% to 26.7%, and the share of heavy industry increased from 8% to 14.8%. The main reason why heavy industrial output increased so fast was because heavy industry suffered the most severe destruction in the war. After three years of recovery and development, its output exceeded the highest annual output in history. But its share in the gross industrial and agricultural output was still very small.