Since 1959, China's national economy has experienced serious difficulties due to "Left" errors, natural disasters and the Soviet government's tearing up of contracts. 1in July, 960, the Beidaihe meeting in the Central Committee of the Communist Party of China proposed to adjust the national economy. When studying 196 1 national economic plan, Comrade Li Fuchun proposed that "adjustment, consolidation and improvement" should be the basic spirit. At the end of August, after listening to the report of the leading group of the State Planning Commission, Premier Zhou Enlai suggested adding the word "substantial" after "adjustment and consolidation". 1960 On September 30th, the "Eight-character Policy" was formally put forward for the first time in the Report on the Control Figures of the National Economic Plan of 196 1 year forwarded by the Central Committee of the State Planning Commission. 196 1 year 1 month 14 to 18 This policy was discussed and adopted at the Ninth Plenary Session of the Eighth CPC Central Committee.
Under the specific guidance of the eight-character policy of "adjustment, consolidation, enrichment and improvement" put forward by China during the period of building socialism in an all-round way, by 1966, the scheduled task of national economic adjustment had been basically completed throughout the country, and the national economy of China had been restored and developed.