Transactions involving state firms buying into private ones exceeded $20 billion last year, more than double the 2012 level, in industries including financial services, pharmaceuticals and technology, disclosures by publicly traded companies show.

“State-owned enterprises must play a leading role and important influence on the healthy development of private enterprises,” says a new central-government action plan for the next three years, which calls for more mergers between state and private firms.

Beijing OriginWater Technology Co. , a provider of sewage-treatment services that competes with the likes of General Electric Co. , was one of the target firms. It was started in 2001 by Wen Jianping, an engineer who had studied in Australia. He was eager to help clean up China’s polluted water supply and take advantage of the country’s increasingly open business environment.

As demand for water purification grew, Mr. Wen’s business thrived. An initial public offering in 2010 helped turn him into a billionaire. In 2018, he made Forbes magazine’s list of China’s richest people, with a reported net worth above $1.1 billion.

Over time, Mr. Wen took on more risk, pledging his shares to borrow more and finance bigger projects. A government “deleveraging” campaign launched under Mr. Xi to curb excessive risk-taking forced companies to pare back on debt and caused stock markets to swoon, sending the value of Mr. Wen’s shares down. His lenders started calling in loans.

Adding to Mr. Wen’s problems, the government in 2018 started to reverse an initiative that teamed private investors with local governments to build big-ticket infrastructure projects, citing fears of overspending. Companies like Mr. Wen’s were left with unfinished projects and debt that was maturing fast.

A subsidiary of China Communications Construction Co. , a big state contractor for Beijing-led infrastructure projects overseas, swooped in, buying a controlling stake in Beijing OriginWater for more than $440 million. Mr. Wen’s stake was reduced to around 10%, from 23%.

Now, instead of focusing on the domestic market, Beijing OriginWater says it plans to help facilitate the party leadership’s Belt and Road Initiative, a huge infrastructure program promoted by Mr. Xi to pull Asian, European and African nations into Beijing’s orbit.

Several longtime board members were replaced with appointees approved by the State-owned Assets Supervision and Administration Commission, which regulates and holds majority stakes in big state companies, including China Communications Construction.

A notice posted on the website of the company’s regulator late last year, when the China Communications Construction subsidiary began acquiring shares in Beijing OriginWater, lays out qualifications for project managers. Among them: Candidates must disclose their political affiliations and should have “unyielding fighting spirit.”

In response to questions, China Communications Construction described the acquisition of Mr. Wen’s firm as an “alliance of the strong.” Mr. Wen declined to comment.

In an interview with a Chinese weekly, China Times, last year, Mr. Wen likened state companies to trees and private firms to shrubs. “In the future, the trees may become larger and larger, absorbing more soil, water and sunlight,” he said. “The shrubs will be transformed, becoming either a branch on the tree or an herb, and the herb will die.”

Zhuji Water Group Co., a water utility run by a city government in the coastal province of Zhejiang, last year spent $147 million for a 28% stake in Zhejiang Great Southeast Co., a publicly listed plastic-packaging firm, after that firm ran into debt troubles.

The government of Zhuji has been trying to make Zhuji Water a conglomerate of sorts by having the company take over hotels, real estate and other assets. Its acquisition of the Great Southeast is also a way for Zhuji Water to get itself listed, a Zhuji official says.

Most often, though, government officials just want to make sure large private companies are adhering to the state’s goals and policies. To that end, the state is installing more Communist Party committees in corporate offices and encouraging them to play more assertive roles in decision-making.

Sanyue Industrial Co., a private maker of electronics in the southern city of Dongguan, in October formed the first party committee in the company’s 11-year history. It did so after the government told the company it needed to, says company executive Huang Shengying.

The committee, which is made up of five party members who were already working at the company, including two from management, plans to meet often to “study the spirit” of government policies and Mr. Xi’s speeches, Ms. Huang says. “We need to understand the policy better to survive. Party building, we’re told, is good for corporate development.”

China’s Xi Ramps Up Control of Private Sector. ‘We Have No Choice but to Follow the Party.’
Push driven by a conviction that markets and entrepreneurs are not to be fully trusted; ‘the market-reform camp is all but gone’
By Lingling Wei
Dec. 10, 2020 10:05 am ET

Xi Jinping, long distrustful of the private sector, is moving assertively to bring it to heel.

China’s most powerful leader in a generation wants even greater state control in the world’s second-largest economy, with private firms of all sizes expected to fall in line. The government is installing more Communist Party officials inside private firms, starving some of credit and demanding executives tailor their businesses to achieve state goals.

In some cases, it is taking charge entirely of companies it regards as undisciplined, absorbing them into state-owned enterprises.

The push is driven by a deepening conviction within the country’s leadership that markets and private entrepreneurs, while important to China’s rise, are unpredictable and not to be fully trusted. The view that state planners are better at running a complex economy has gained currency this year, with Beijing relying heavily on state directives to engineer a V-shaped recovery from the shock of Covid-19.

Mr. Xi has made his priorities especially clear in recent months. In September, the party issued new guidelines for private companies, reminding them to serve the state and vowing to use education and other tools to “continuously enhance the political consensus of private business people under the leadership of the party.”

Just a few weeks later, Mr. Xi personally intervened to block the $34 billion initial public offering of one of China’s biggest private firms, Ant Group, partly out of concerns it was too focused on its own profits rather than the state’s goal of controlling financial risk.

The message isn’t lost on entrepreneurs, who are reorienting their businesses to appease the state or giving up on private enterprise altogether.

“For us small businesses, we have no choice but to follow the party,” says Li Jun, a 50-year-old owner of a fish-farming business in the eastern Jiangsu province. “Even so, we’re not benefiting at all from government policies.”

Mr. Li recently closed down a seafood-processing plant because it couldn’t get bank loans—a persistent problem for private firms, despite Beijing’s repeated pledges to make credit more available for them.

The risk for China is that Mr. Xi’s vigorous assertion of statist prerogatives will dull the kind of innovation, competitive spirit and unbridled energy that powered China’s explosive growth in recent decades. The economic policies that helped nurture e-commerce giant Alibaba Group Holding Ltd., tech conglomerate Tencent Holdings Ltd. and other global success stories seem to be at an end, say economists inside and outside China. As a result, they say, Chinese companies are becoming less like American ones, which are driven by market forces and depend on private innovation and consumption.

The information office of the State Council, China’s cabinet, didn’t respond to written questions for this article.

The percentage of Chinese manufacturing and infrastructure investment coming from private companies, after growing in recent decades, peaked in 2015 at more than half of total fixed-asset investments and has been shrinking since then.

China’s economy as a result has become less efficient. The amount of capital input needed to generate one unit of economic growth has nearly doubled since 2012, when Mr. Xi rose to power, according to the China Dashboard, a data project between research firm Rhodium Group and the Asia Society Policy Institute, a think tank. That is partly because China’s state-owned enterprises, which have swollen in size, are often less productive than private businesses, official data shows.

Party officials, for their part, see an opportunity to rein in the excessive risk-taking, debt and graft that accompanied the rapid rise of private businesses. Mr. Xi’s brand of state capitalism, which mixes markets with stepped-up state intervention, has survived a trade war with the U.S. and outperformed free-market economies recently, based on economic growth rates.

In one of the clearest signs of China’s direction, more state firms are gobbling up private companies, redefining a government initiative called “mixed-ownership reform.” The original idea, dating back to the late 1990s, was to encourage private capital to invest in state firms, bringing more private-sector acumen to China’s often-bloated state-owned enterprises.

Now, under Mr. Xi, the process often works the other way around, with big state companies absorbing smaller ones to keep them going, and reconfiguring the smaller firms’ strategies to serve the state.

"These captains of industry are starting to challenge the authority of the central government, and so the government is moving to cut them off," he said.

The moves against China's homegrown tech giants come as the government is also moving to acquire stakes in private companies, businesspeople in the eastern province of Zhejiang told RFA in recent interviews.

Peng Huagang, spokesman for the State-owned Assets Supervision and Administration Commission (SASAC), told reporters on July 16 that his agency would press ahead with "mergers" between private sector and state-owned companies.

These takeovers would be implemented both by paid acquisitions and uncompensated nationalization, as well as share transfers, Peng said.

The process would improve competitiveness and optimize the use of skills and resources, he said.

Zhejiang businessman Jiang Jieben told RFA that the process is already under way in his home province.

"This is actually a long-term trend, which is aimed at strengthening state-owned enterprises at the expense of the private sector and private capital," he said.

"There is pressure within and beyond provincial government to do this, and for it to happen more quickly."

Jiang said the process had only become more obvious with the treatment meted out to Alibaba founder Jack Ma's Ant Financial and to Didi.

"They want to nationalize all of these companies, to the point that there will be no private sector left at all," he said.

https://www.rfa.org/english/news/china/tech-07192021134345.html

China Clamps Down on Homegrown Tech Giants Amid Nationalization Drive
Government curbs on the activities of online service providers come as the ruling party forges ahead with nationalization.
By Cheng Yut Yiu and Qiao Long
2021.07.19

China's internet regulators are continuing to crack down on the country's top tech companies, with ByteDance's Toutiao suspending new accounts and investigators moving in to ride-sharing app Didi's headquarters.

TikTok owner ByteDance is blocking new user and content creator registrations for Chinese news aggregator Jinri Toutiao, Reuters cited people familiar with the matter as saying.

The freeze began in September 2020, with some content creators reporting on social media that they had been unable to register new accounts, but with no announcement made by the company.

New users who try to register currently see a message: "System is currently under maintenance. Registration is temporarily unavailable," Reuters reported.

Existing users are still able to post, and the app is still available on app stores inside China, the report said.

In 2018m, Toutiao suspended more than 1,000 accounts after being sanctioned last week for alleged breaches of regulations and for spreading "pornographic and vulgar content."

The popular app also added a channel titled "New Era," in a reference to the political "thought" of Chinese President Xi Jinping, "to release information or reports about China's accomplishments and efforts after socialism with Chinese characteristics has entered a new era."

The move came after the powerful Cyberspace Administration temporarily suspended both Toutiao and Phoenix News for "having serious problems in guiding public opinion."

The apps had "carried pornographic content, seriously misled the public and had a very negative impact on the social media environment," the administration said at the time.

The aggregator is ByteDance's second largest source of advertising revenue in China, second only to Douyin, and accounting for 20 percent of the company’s U.S.$5.4 billion in sales in China last year.

But the company's plans earlier this year to list on the U.S. stockmarket had been a slap in face for the ruling Chinese Communist Party (CCP), an internet industry worker surnamed Pan told RFA.

"I think the first major factor in all of the recent crackdowns [on large technology platforms] is that they are going after private companies," Pan said. "Secondly, they are seeking listings in the U.S., which is embarrassing [for the government]."

"Toutiao had always said they would list in the U.S. ... [but then] the financial director announced that the plan had been suspended," she said. "The word is that the listing won't be happening now."

Overseas share-listings

China's cabinet said on July 6, 2021 that it would crack down on overseas share-listings by its companies, just two days after the country's Cyberspace Administration removed the Didi ride-hailing app from Chinese stores following its U.S.$4.4 billion initial public offering (IPO) in New York.

The removal of the app wiped billions from the value of Didi Global Inc shares in the first trading session since the app's removal.

Didi -- which runs an Uber-like service with around 500 million users and 15 million drivers -- went ahead with the listing despite being urged by Chinese regulators to delay the IPO, according to a report in the Wall Street Journal (WSJ) on Monday.

Officials were "wary of the ride-hailing company's troves of data potentially falling into foreign hands" owing to public disclosure around the listing, the WSJ quoted sources as saying.

Didi is under investigation by the Cyberspace Administration, and investigations are ongoing into other U.S.-listed Chinese companies including Full Truck Alliance and Kanzhun.

"The Cyberspace Administration of China will ... cooperate with the ministry of public security, ministry of state security, ministry of natural resources, ministry of transport, the state administration of taxation, the state administration of market supervision and other departments are installed at the [headquarters] of Didi Chuxing Technology Co. Ltd to conduct a review of online security," the administration said in a statement on its official website on July 16.

'Red entrepreneurs'

A current affairs commentator surnamed Zhao said the CCP under general secretary Xi Jinping is going after the second generation of "red entrepreneurs" who are related to revolutionary leaders, to stem their financial power and political influence.

"These platforms have made huge profits for the second generation of red elite, the children of [high-ranking] officials," Zhao said. "Capitalist entities with a communist background are packing more and more of a punch, both internationally and in China."

CHINA TECH
Deal breaker? China nationalizes strategic tech with eye on US
Beijing takes control of 44 companies despite Washington pressure in trade talks
Meiya Pico, a Chinese digital forensics and cybersecurity company, has come under state control. (Photo from the company's website)
SHUNSUKE TABETA, Nikkei staff writer
January 17, 2020 04:46 JST

BEIJING -- China is taking throngs of high-tech companies under its wing to prepare for a protracted standoff with the U.S. despite calls from Washington to step back from the business sector.

The two countries signed a "phase one" trade deal Wednesday, but deferred thorny topics like intellectual property protections and Chinese state subsidies for a second round of negotiations expected to start soon. The nationalization of high-tech companies could become a potential roadblock in the so-called phase two talks.

A total of 165 listed Chinese companies changed ownership in 2019, roughly 60% more than the year before due to China's economic slowdown, according to the China Securities Journal, a newspaper backed by the state-run Xinhua News Agency.
Of those that changed ownership, 44 companies, with a combined market capitalization of about $36 billion, were acquired by state-owned companies or government-run investment companies. Many were involved in highly strategic fields like surveillance and information systems.

The largest on the list, with a market capitalization of about $2.3 billion, is Xiamen Meiya Pico Information. The company, which was put on a U.S. trade blacklist in October, works with law enforcement officials in digital forensics and online censorship, and is now under the control of the state-owned State Development & Investment Corp.

Shenzhen Infinova, bought by a Shenzhen government investment company, produces items like surveillance systems for law enforcement. Its products have been sold to over 100 countries, including in North America and Europe.

Another surveillance system provider, NetPosa Technologies, was acquired by Sichuan Province's investment arm.

The trend extends beyond security-related businesses. Shenzhen Yinghe Technology makes production equipment for lithium-ion batteries, which is one of the industries promoted under President Xi Jinping's "Made in China 2025 initiative. Yinghe was bought by state-owned Shanghai Electric Group.

Ygsoft, which makes artificial intelligence-driven software for the power industry, is now under the State Grid Corp. of China.

China's regional and other governments have raised about 500 billion yuan ($72.7 billion) since late 2018 to rescue struggling private-sector businesses, 86 billion yuan of which had been used by the end of June 2019, local media reported.

But only 11 of the 44 recently taken over by state enterprises were in the red in 2018. Meiya Pico's net profit increased 10% that year on a 20% jump in revenue, while Infinova and NetPosa logged a 50% and 20% sales increase, respectively.

The government likely picked these companies to protect them amid the growing technological rivalry between China and the U.S. The administration of U.S. President Donald Trump has been targeting Chinese tech companies through tariffs and embargoes, concerned that they could challenge the U.S. in new, strategic fields.

Private-sector companies are a main driver of the Chinese economy, accounting for more than 80% of the country's employment and more than 60% of gross domestic product, according to the All-China Federation of Industry and Commerce.

But they were outperformed by state-owned compares for the second straight year. Private companies earned 1.59 trillion yuan in profits in the first 11 months of 2019, less than the 1.6 trillion yuan by state-owned companies, based on data from the National Bureau of Statistics.

The nationalization of private tech companies "is one of the Communist Party's support measures," a regional government official said.

Not all see it as a positive development. "The government is strengthening its grip over private-sector companies and pressuring them," said one financial executive.

https://asia.nikkei.com/Business/China-tech/Deal-breaker-China-nationalizes-strategic-tech-with-eye-on-US

军方劝说习近平放弃连任！不满刘亚洲被整。中国年轻人彻底躺平：出生率再创历史新低！失业惊人。经济大滑坡
https://www.youtube.com/watch?v=7a1V6JNUN24

You also can called china system as Socialism with Emperor Xi characteristics (Chinese: 中国习近平特色社会主义). Its does not matter.

Wolf always wolf even you called its lamb

Hahahahah

"Capitalist" will always be a capitalist even you called him a "listacap"


China's suv Geely Boyue when exported to Malaysia is called Proton X70. Just change a bit here & there...then difference name. Does Geely Boyue changed ?

Hahahahaa

CPC always like to copycat & just change a bit then renamed its to different name...

Sslee please be logical la... Can't you see ...hehehehehe


>>>>>>>>>>>>>>>>>
Posted by Sslee > Jan 24, 2022 5:07 PM | Report Abuse

By the way china system is called socialism with Chinese characteristics (Chinese: 中国特色社会主义)
24/01/2022 5:38 PM

WHAT DOES 'COMMON PROSPERITY' MEAN?

"Common prosperity" was first mentioned in the 1950s by Mao Zedong, founding leader of what was then an impoverished country, and repeated in the 1980s by Deng Xiaoping, who modernised an economy devastated by the Cultural Revolution.

Sslee the above was taken from the article link that posted by you. Mao has mentioned "Common prosperity" in 1950s. I am sure that you do agreed that Mao definitely not a capitalist. He is a socialist or communist right ?





>>>>>>>>>>>>>
Posted by Sslee > Jan 24, 2022 4:43 PM | Report Abuse

https://www.reuters.com/article/china-economy-prosperity-idUSKBN2FY0HF

>>>>>>>>>>>>>>>>>>
Posted by Sslee > Jan 24, 2022 5:01 PM | Report Abuse

This is your own understanding of common prosperity and not what China leaders have in mind.

So please only speak for yourself and don't put words into other people mouth.

Posted by uncensored > Jan 24, 2022 4:56 PM | Report Abuse

"Socialists contend that shared ownership of resources and central planning provide a more equal distribution of goods and services and a more equitable society."

This is called common prosperity

Sslee do you know why he needed to say that. Because it is against Marxism or Socialism and the others communists leaders are against its. He knew that common prosperity defintely cannot to achieve under Capitalism. He is facing life or death for CPC . Hence he got no choice but chosen Capitalism

"Socialists contend that shared ownership of resources and central planning provide a more equal distribution of goods and services and a more equitable society."

This is called COMMON PROSPERITY
where everyone enjoyed the same right & same wealth

What Is Socialism?
Socialism is a populist economic and political system based on public ownership (also known as collective or common ownership) of the means of production. Those means include the machinery, tools, and factories used to produce goods that aim to directly satisfy human needs.


Communism and socialism are umbrella terms referring to two left-wing schools of economic thought; both oppose capitalism, but socialism predates the Communist Manifesto, a 1848 pamphlet by Karl Marx and Friedrich Engels, by a few decades.


In a purely socialist system, all legal production and distribution decisions are made by the government, and individuals rely on the state for everything from food to healthcare. The government determines the output and pricing levels of these goods and services.

Socialists contend that shared ownership of resources and central planning provide a more equal distribution of goods and services and a more equitable society.

Deng Xiaoping indicated that it was acceptable for some regions to become wealthy before others

So my blinded friend, are the statement made by Deng sounded like common prosperity to you.

Hahahahaha

September 1999, No.45
Select the year published
1999
View
MThe "Three Reforms" in China: Progress and Outlook
Sakura Institute of Research, Inc.
Shigeo Kobayashi, Jia Baobo and Junya Sano

.........

however, Deng Xiaoping indicated that it was acceptable for some regions to become wealthy before others. The result was a huge wealth disparity between coastal and inland regions, and between the cities and rural areas.

https://www.jri.co.jp/english/periodical/rim/1999/RIMe199904threereforms/#:~:text=With%20the%20shift%20to%20the,the%20cities%20and%20rural%20areas.

"Common prosperity" was first mentioned in the 1950s by Mao Zedong, founding leader of what was then an impoverished country, and repeated in the 1980s by Deng Xiaoping, who modernised an economy devastated by the Cultural Revolution.

"Common prosperity" is socialism ideology but not a Capitalism ideology.

Yes I knew. Social welfare is the socialist ideology hence this is a part of socialism ideology.
Whereas common prosperity is also a social ideolgy that derived from socialism. Xi planned to rob the high income level, but whether where will the money go is million dollar question.

So are you blind that you can't see that common prosperity is from socialism ?

Capitalism do not agreed on Government providing social aids.

Please read up ok ?

Then what is common prosperity ? Capitalism ?Please tell me how its implemeneted ?
If you can't then your what you write seem does not match with your IQ level....
Hahahaha

By the way do you really understand what is SOCIALISM ?

Then what is common prosperity ? Capitalism ?

How Socialism Wiped Out Venezuela’s Spectacular Oil Wealth
ReasonTV
734K subscribers
"At this moment Venezuela is living through its worst nightmare," said Luis Pedro España, a professor of sociology at Andrés Bello Catholic University in Caracas, who has studied the nation's economic collapse. "We are witnessing the end of Venezuela as a petro-state."

Venezuela has the world's largest proven oil reserves and yet the country has run out of gasoline. The socialist government has lost the capacity to extract oil from the ground or refine it into a usable form. The industry's gradual deterioration was 18 years in the making, tracing back to then-President Hugo Chávez's 2003 decision to fire the oil industry's most experienced engineers in an act of petty political retribution.

The near-total collapse in the nation's oil output in the ensuing years is a stark reminder that the most valuable commodity isn't a natural resource, but the human expertise to put it to productive use.

The little gas that is still available comes via periodic shipments from Iran. But the Venezuelan government doesn't officially charge at most gas stations. It uses a quota system, so filling a tank can mean waiting in line for days.

The Venezuelan oil industry turned a once poor agricultural nation into an important geopolitical player and one of the region's richest countries.

The economic crisis has caused much of the nation's educated middle class to flee the country, which will make rebuilding Venezuela's human capital an even greater challenge. In an ironic twist, Chavez's hand-picked successor, Nicolás Maduro, is now working to bring privately-run foreign oil companies back in.

Produced by Andrés Figueredo Thomson and Regan Taylor; translation by María José Inojosa Salina.

https://www.youtube.com/watch?v=0mvjp0ZqK7Q

You need to analyse why the Mao great leap failure. Please see the video & read up on Socialism & Capitalism.

Current China chairman has indicated in local new & with his action on economic issue that he favouring socialism policy ie central economic planning, common prosperity, & nationalisation.

China leader Deng knew the shortcoming of socialism as he witnessed the fall of Sovirt Union. Soon after the fall of SU, in 1992 Deng Xiaoping's southern tour , he warned the Jiang the leader at that time to speed up the reform & open policy that he approved. He said "those who do not promote reform should be brought down from their leadership positions". He reform & open policy is to adpot Capitalism.

But the current chairman is slowly departed Deng policy in favour of socilalism

The current chairman has the similar ideology like Mao.. using central economic planning, common prosperity, & nationalisation of private entrepreneur will lead to similar result in the period 1958...

Hahahaha You sounded like you are in charge ... are you ?

The Great Leap Forward (1958-62)
Simple History
3.71M subscribers

Land reform, where estates had been taken from rich landowners and redistributed to the peasants had taken place shortly after the communists had come to power.
Collectivisation, where peasants lost their own pieces of land and instead worked for wages on land owned by the state had also begun to take place.

Mao believed this was not enough to expand both agricultural and industrial production and instead introduced the second five-year plan in 1958.
This would become known as the ‘Great Leap Forward’.

https://www.youtube.com/watch?v=xWRhPf9Qzmw

Mao's Great Leap Forward - Cold War DOCUMENTARY
The Cold War
279K subscribers
Our historical documentary series on the history of the Cold War continues with a video on the Great Leap Forward - the Chinese industrialization plan enacted under the chairman of the Chinese Communist Party Mao Zedong, which ultimately led to a famine.

https://www.youtube.com/watch?v=CUqDwoYYOSc

Will histroy repeat itself in China ?

Will Great Leap happen again in China ?


In 1958 to 1961 Many People Died During the Great Leap Forward?
While there is no exact count, researchers have estimated the death toll to be between 30 million and 45 million individuals

https://www.investopedia.com/terms/g/great-leap-forward.asp#:~:text=Instead%20of%20stimulating%20the%20country's,massive%20economic%20and%20environmental%20destruction.

How Many People Died During the Great Leap Forward?
While there is no exact count, researchers have estimated the death toll to be between 30 million and 45 million individuals


https://www.investopedia.com/terms/g/great-leap-forward.asp#:~:text=Instead%20of%20stimulating%20the%20country's,massive%20economic%20and%20environmental%20destruction.

The End Result
The Great Leap Forward ended up being a massive failure. Tens of millions died by starvation, exposure, overwork, and execution in just a few years. It broke families apart, sending men, women, and children to different locations, and destroyed traditional communities and ways of life. Farmland was damaged by nonsensical agricultural practices and the landscape denuded of trees to fuel the steel furnaces. Thirty to 40% of the housing stock was demolished to obtain raw materials for collective projects. In industry, massive quantities of capital goods and raw materials were consumed in projects that yielded no additional output of final goods.

The Great Leap Forward was officially halted in Jan. 1961 after three brutal years of death and destruction.

What Was the Purpose of the Great Leap Forward Program?
The Great Leap Forward was a relatively short-lived effort by the communist regime of China to modernize its rural and agricultural sectors through collectivism and industrialization.

What Happened in the Great Leap Forward?
Rather than stimulating the economy, the measures undertaken by the Great Leap Forward resulted in massive food shortages, leading to famine and starvation—ultimately, tens of millions of Chinese citizens died as a result.

How Did the Great Leap Forward Cause Famine?
The failure of this program was due to the confluence of several factors. Efforts to kill off birds increased insect populations that ruined crops. The communal farms set up by the Great Leap Forward were beset by inadequate food distribution throughout the country given China's relatively primitive infrastructure at the time.

At the same time, there was an overproduction of grain, much of which rotted before being able to be transported. In addition, there was a bias to feed residents of urban centers rather than to peasants across the countryside, leading to higher death rates among rural communities than in cities.2

How Many People Died During the Great Leap Forward?
While there is no exact count, researchers have estimated the death toll to be between 30 million and 45 million individuals.1

What Was the Great Leap Forward? By THE INVESTOPEDIA TEAM
Updated September 22, 2021
Reviewed by MICHAEL J BOYLE

What Is the Great Leap Forward?
The Great Leap Forward was a five-year plan of forced agricultural collectivization and rural industrialization that was instituted by the Chinese Communist Party in 1958, which resulted in a sharp contraction in the Chinese economy and between 30 to 45 million deaths by starvation, execution, torture, forced labor, and suicide out of desperation. It was the largest single, non-wartime campaign of mass killing in human history.

The initiative was led by Mao Zedong, also known as Mao Tse-tung and Chair Mao. Mao’s official goal was to rapidly evolve China from an agrarian economy into a modern industrial society with a greater ability to compete with Western industrialized nations.

KEY TAKEAWAYS
- The Great Leap Forward was a five-year economic plan executed by Mao Zedong and the Chinese Communist Party, begun in 1958 and abandoned in 1961.

- The goal was to modernize the country's agricultural sector using communist economic ideologies.

- Instead of stimulating the country's economy, The Great Leap Forward resulted in mass starvation and famine.

- It is estimated that between 30 and 45 million Chinese citizens died due to famine, execution, and forced labor, along with massive economic and environmental destruction.

- The Great Leap Forward remains the largest episode of non-wartime mass killing in human history, and a clear example of the failures of socialism and economic central planning.

Understanding the Great Leap Forward
In 1958, Mao announced his plan for the Great Leap Forward, which he laid out as a five-year plan to improve the economic prosperity of the People’s Republic of China. He devised the plan after touring China and concluding that he felt the Chinese people were capable of anything.


Overall, the plan was centered around two primary goals, collectivizing agriculture, and widespread industrialization, with two main targets, increasing grain and steel production.

Agriculture
Private plot farming was abolished and rural farmers were forced to work on collective farms where all production, resource allocation, and food distribution was centrally controlled by the Communist Party. Large-scale irrigation projects, with little input from trained engineers, were initiated, and experimental, unproven new agricultural techniques were quickly introduced around the country.


These innovations resulted in declining crop yields from failed experiments and improperly constructed water projects. A nationwide campaign to exterminate sparrows, which Mao believed (incorrectly) were a major pest on grain crops, resulted in massive locust swarms in the absence of natural predation by the sparrows. Grain production fell sharply, and hundreds of thousands died from forced labor and exposure to the elements on irrigation construction projects and communal farming.

Famine quickly set in across the countryside, resulting in millions more deaths. People resorted to eating tree bark and dirt, and in some areas to cannibalism. Farmers who failed to meet grain quotas, tried to get more food, or attempted to escape were tortured and killed along with their family members via beating, public mutilation, being buried alive, scalding with boiling water, and other methods.

Industrialization
Large-scale state projects to increase industrial production were introduced in urban areas, and backyard steel furnaces were built on farms and in urban neighborhoods. Steel production was targeted to double in the first year of the Great Leap Forward, and Mao forecast that Chinese industrial output would exceed Britain’s within 15 years. The backyard steel industry produced largely useless, low-quality pig iron. Existing metal equipment, tools, and household goods were confiscated and melted down to fuel additional production.

Due to the failures in planning and coordination, and resulting materials shortages, which are common to central economic planning, the massive increase in industrial investment and reallocation of resources resulted in no corresponding increase in manufacturing output.

Millions of “surplus” laborers were moved from farms to steel making. Most were the able-bodied male workers, breaking up families and leaving the forced agricultural labor force for the collective farms consisting of mostly women, children, and the elderly. The increase in urban populations placed additional strain on the food distribution system and demand on collective farms to increase grain production for urban consumption. Collective farm officials falsified harvest figures, resulting in much of what grain was produced being shipped to the cities as requisitions were based on the official figures.

军方劝说习近平放弃连任！不满刘亚洲被整。中国年轻人彻底躺平：出生率再创历史新低！失业惊人。经济大滑坡
https://www.youtube.com/watch?v=7a1V6JNUN24

請到副頻道觀看完整版 笑喷！中共穷的真揭不开锅了，如此“惨剧”登上头版头条；香港防疫中共化，3.5万人断粮；林郑记者会未戴口罩社会哗然；中共老朋友达沃斯论坛打北京耳

01:22 笑噴！中共窮的真揭不開鍋了！如此“慘劇”登上頭版頭條【阿波羅網報導】
03:47 河南強制學生承諾不參加課外培訓 違者記入檔案
05:45 香港防疫中共化 3.5萬人強制檢測 管控區斷糧 阿波羅網評論員王篤然點評
07:15 林鄭月娥記者會未戴口罩　香港社會嘩然
08:04 中共老朋友達沃斯論壇委婉地打了中共一記耳光
10:35 美國人平均年薪多少？華頓商學院教授：學生普遍高估

https://www.youtube.com/watch?v=fyGXMdqliCk

習派吃了大虧；保20大，軍中大整肅第三步到了；中國綜藝內幕驚人；北京擴散至少山東山西 新規：買4類藥72小時內檢測；美聯澳對抗中共有更大計劃；洛杉磯鐵道狼籍如第三世
01:08 習近平保「二十大」 軍中大整肅開始! 連環第三步到了 【阿波羅網報道】
03:45 習派吃了大虧 日本資深媒體人矢板明夫分析
06:38 北京擴散至少山東山西 新規：購買這4類藥品 72小時內檢測
07:07 中國綜藝內幕爆料:脫口秀靠提詞器 比賽結果內定
09:24 加派F-22和F-35還不夠 美聯澳對抗中共有更大計劃
10:51 洛杉磯鐵道垃圾狼籍如第三世界 美媒分析3原因

https://www.youtube.com/watch?v=Xm5Wrs1ORv0

【#中國禁聞】北京疫情擴散，已蔓延3省4地；反擊中共，美暫停中國航空公司44航班；中共爲何承認鄭州水災瞞報，專家析因；記者直擊：陝西男子的返鄉之旅；為二十大造勢，中

北京疫情擴散 已蔓延3省4地
反擊中共 美暫停中國航空公司44航班
中共爲何承認鄭州水災瞞報 專家析因
記者直擊: 陝西男子的返鄉之旅
為二十大造勢 中共下令官媒營造美好生活
上海公司轉移美國飛機技術 FBI調查

中國新年和冬奧會越來越近，北京的疫情卻越演越烈，1月23號，官方通報說，當地的病例繼續增長，從22號下午4點到23號下午4點，新增9例本土確診病例。不過，這個數據是否真實，到底瞞報了多少，外界還存有疑問。

河南鄭州去年「7•20」特大洪災，造成重大傷亡。日前，中共官方罕見承認鄭州官員瞞報死亡人數，鄭州市委書記等人被問責。外界評論，北京之所以做出這一頗為罕見的舉動，是因為其中含有高層內鬥的因素。

中國傳統新年臨近，大陸再現返鄉潮。但是中共的極端防疫措施，卻讓民眾的回家過年之旅，變成難忘的痛苦之旅。日前一位陝西男士向我們講述了他的經歷。

儘管目前變異病毒奧密克戎已經進入北京等10多個省市，民眾生活陷入危機，但中共中宣部日前卻發出通知，要各地新聞機構的編輯記者深入基層，報導民眾的幸福感和對黨的熱切期盼，為中共二十大「營造良好輿論氛圍」。

由於將美國公司的關鍵技術不正當地轉移到中國，上海一家投資公司被美國股東告上法庭。美國聯邦調查局（FBI）和美國外來投資審查委員會CFIUS（Committee on Foreign Investment in the United States）已經展開調查。

https://www.youtube.com/watch?v=tV16bZ1yNRw

财经冷眼：超级金融危机爆发了？我们如何应对？（20220124第717期）
https://www.youtube.com/watch?v=cGZVNqD58R8

債信塌方 中共央行急了 還能撐多久？；驚駭！陸港海關貿易數據現2萬億差距；大量國際服裝品牌代工廠撤離中國；中企高價中標智利採礦合同，兩天後被凍結；陸房企巨頭碧桂園
00:00 本期内容摘要
01:17 達沃斯論壇警告，65%的中國GDP面臨自然損失風險
02:14 香港與中國海關貿易數據出現3300億美元差距
04:38 中國債信危機蔓延，還能撐多久？
06:43 大陸房企碧桂園債券三個交易日跌去20%
07:50 中企出高價中標智利採礦合同，兩天後被法院凍結
09:19 微軟宣佈以687億美元收購動視暴雪，將成全球第三大遊戲公司
09:51 債務「灰犀牛」失控，央行罕見表態，專家：球員躺平，裁判急了
12:34 大量國際服裝品牌代工廠撤離中國，轉向東南亞

https://www.youtube.com/watch?v=xCrf_zf_mP0&t=10s

qqq3333 we only highlight the evil deed done by CPC. The TRUTH about CPC.

You don't care about China people . You only care about CPC leaders

To be exact

I love China but you love CPC

qqq3333 even if you don't believed in God or any religion but you still believed in nature science right ? Could durian fruit came out from Mango tree ? No right. If so how can good things came out from evil people?
Hahaha hahaha

Yes shares investment should be long term investment.

qqq3333 are you believing in positive thinking or you believed in chanting?

Hahahaha

Post removed.Why?

Hence he is shy to use the name stockraider to post here

Hahaha...maybe his felt that the name stockraider has dented by some of my comments.

All I Have To Do Is Dream - Everly Brothers
dream dream dream dream-
dream dream dream dream

when i want you in my arms
when i want you and all your charms
whenever i want you
all i have to do is dream
dream dream dream dream

when i feel blue in the night
and i need you to hold me tight
whenever i want you
all i have to do is dream
dream dream dream dream

i can make you mine
taste your lips of wine
anytime night or day
only trouble is geewhiz
i'm dreaming my life away

i need you so that i could die
i love you so and that is why
whenever i want you
all i have to do is dream
dream dream dream dream--
Music in this video

https://www.youtube.com/watch?v=tbU3zdAgiX8

All I Have To Do Is Dream - Everly Brothers

dream dream dream dream-
dream dream dream dream

when i want you in my arms
when i want you and all your charms
whenever i want you
all i have to do is dream
dream dream dream dream

when i feel blue in the night
and i need you to hold me tight
whenever i want you
all i have to do is dream
dream dream dream dream

i can make you mine
taste your lips of wine
anytime night or day
only trouble is geewhiz
i'm dreaming my life away

i need you so that i could die
i love you so and that is why
whenever i want you
all i have to do is dream
dream dream dream dream--
Music in this video

https://www.youtube.com/watch?v=tbU3zdAgiX8

Ya.. a lot people hunting for properties to invest in with 6% ROI but sad or glad depends on which side said: it is difficult to get a property with 6% ROI.

Ya TNB bill follow name whereas water bill follow address

eating peanuts ...nice ..but please ensured its does not contaminated with a mold called Aspergillus flavus.

Chances that AA going down 30% in view of the weakness of MAB. If MAB able to evolve to a much stronger management then AA chances of going down increased to 50%.... the survival of AA is interdependent of the strenght or weakness of MAB

Post removed.Why?

In Singapore or HK, vacating a tenant is much more easy & faster but in Malaysia not so easy.