Preface

G. C. W.

Chinese Economy, 1983, vol. 16, issue 3, 3-5

Abstract: The Third Plenary Session of the Eleventh Central Committee of the Chinese Communist Party ushered in a new era in the history of China's economic development. It was at that session that China made a noticeable shift in its economic strategy and a far-reaching reform of its economic system. Internally, the enterprise is to be responsible for its profits and losses, while workers are paid by their productivity rather than by their needs. Externally, China has embarked upon an "open-door policy," calling for expansion of its economic relations and trade with other countries.

Date: 1983
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