建国53年来中国宏观经济发展的若干特点: 在2003年中国现代经济史年会上的讲话

China's macro economy from early after the founding of the PRC till the 3rd Plenum of 1978 can be divided into four periods: the First 5一Year Plan, the Second 5一Year Plan, the period of readjustment, and the Cultural Revolution. During this period economic strategy was dominated by the priority to developing heavy industry and a fast pace of development. Although this strategy established a fairly complete national economic system, it also possessed many problems in industry structure, the relationship between accumulation and consumption, the methods of growth, and the turbulence of growth. The centralized planned economic system that accompanied this strategy played a role in concentrating forces to carry out development，but in terms of efficiency it was a failure. Since the 3rd Plenum of the 11th Central Committee, China's economic system and model of development have experienced profound changes. But the effects of the traditional planned economy
continue to present certain hurdles for reform and opening up.