On the Issue of Balancing the State Budget

Ge Zhida

Chinese Economy, 1982, vol. 16, issue 2, 107-123

Abstract: Summing up the practice and experience of our nation's financial and economic work, Comrade Chen Yun raised in 1957 the issue of how to achieve financial, credit, and material balance. This was his integration of Marxist theory of reproduction and the practice of China's socialist economic construction. Stemming from the integration is a major theoretical issue; i.e., how to strike a balance in socialist planning. It is also an important practical problem concerning the stability of finance and price, improvement of the people's livelihood, and the sustained development of production and construction. The "three major balances" constitute an integrated and comprehensive balance system related to the balances of finance, credit, material supply, and foreign exchange as well as the balance among them; it involves the overall balance of the national economy. Here I offer my views regarding the issue of financial balance.

Date: 1982
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