On January 14th, 1961, the Ninth Plenary Session of the Eighth Central Committee was held in Beijing. Hosted by Mao Zedong. The meeting heard and discussed Li Fuchun's Report on the Implementation of the National Economic Plan in 196 and the Main Indicators of the National Economic Plan in 1961, and Deng Xiaoping's Report on the Meeting of Representatives of Producers' Parties and Workers' Representatives of Various Countries held in Moscow in November 196. Through the "discussion summary on the rectification of rural cooperatives and some policy issues". The plenary session formally approved the implementation of the eight-character policy of "adjusting, consolidating, enriching and improving" for the national economy, and suggested that the State Council draw up the national economic plan for 1961 according to this policy and submit it to the National People's Congress for deliberation.