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4. Concept of planned commodity economy put forward in 1984
(People's Daily Online)
Updated: 2008-10-29 17:29

On October 20, 1984, the Third Plenary Session of the 12th Central Committee of the Communist Party of China was held in Beijing.

The meeting unanimously passed the "CPC Central Committee's decision on the reform of the economic system" and made it clear: further reviving domestic economy, adopting open-door policy, and speeding up the pace of the urban-centered economic system reform are the measures that meet the demand of the current situation of China's development.

The basic task of the reform is to build socialist economic system with Chinese characteristics, vigor and vitality and, promote the development of social productive forces.

4. Concept of planned commodity economy put forward in 1984

The Decision also clearly defined the objectives and requirements for the reform and therefore created conditions for breaking the planned economic system.