New Great Leap Forward after the Collapse of the Soviet Union

Shi Cheng

Chapter 9 in China’s Rural Industrialization Policy, 2006, pp 235-261 from Palgrave Macmillan

Abstract: Abstract In 1991, China’s economy had an overall recovery. Most of the main economic index approached or surpassed the average annual growth rate in the thirteen years since the reform and opening up, even that of the ten years from 1979 to 1988. The national economy entered a normal stage of growth. The annual growth rate of GDP was 7.3 percent with a rate of 14.2 percent in industry. State-owned industry had a big restoration with an annual growth rate of 8.6 percent, 5 percentage points more than that in 1989. China’s exports in 1991 were 71.9 billion US dollars increasing by 15.8 percent annually with an import of 63.8 billion US dollars. In agriculture, although the gross output value grew slowly at a rate of 3.7 percent, the grain yield increased from 1989 to 1991 continuously and the national per capita grain grew from 358 kg in 1988 to 378 kg in 1991. In many areas, it was difficult for farmers to sell grain.

Keywords: Foreign Direct Investment; State Council; West Region; Rural Economy; Tertiary Industry (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50171-3_10

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DOI: 10.1057/9780230501713_10

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