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The Development of the Guangcai Programme

In: Poverty Alleviation Investment and Private Economy in China

Author

Listed:
  • Lin Wang

    (Peking University)

Abstract

After the Third Session of the Eleventh Central Committee of the CPC, the central government came to realize that the private economy is a beneficial supplement to the state-owned economy and should be encouraged. In order to change the stereotype of private enterprises, Hu Yaobang received representatives from both the collective and the private economy in 1983 and delivered a speech titled How to draw the line between honors and disgraces?, in which he said, “all causes which are beneficial to the nation and its people are lofty; all those who work hard and make contributions to the nation and its people are honorable; yet those who love ease and hate work, who disobey the labor disciplines, who are chaotic and lawless are disgraceful.” The speech inspired private business owners greatly, promoted the development of non-public enterprises and the numbers of self-employed people. The number of people in the non-public and private sectors of the economy rose from 150,000 in 1978 to 6,710,000 in 1990 and amounted to over 15,570,000 in 1994. By 2006, the number of people working in the non-public and private sectors of the economy had exceeded 117 million.

Suggested Citation

  • Lin Wang, 2014. "The Development of the Guangcai Programme," Springer Books, in: Poverty Alleviation Investment and Private Economy in China, edition 127, chapter 0, pages 1-8, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-40612-6_1
    DOI: 10.1007/978-3-642-40612-6_1
    as

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