FINANCIAL AND ECONOMIC DEVELOPMENTS OF CHINA, 1952

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP80-00809A000700110601-0
• Release Decision: RIPPUB
• Original Classification: R
• Document Page Count: 3
• Document Creation Date: December 22, 2016
• Document Release Date: September 15, 2011
• Sequence Number: 601
• Publication Date: June 23, 1953
• Content Type: REPORT

Declassified in Part - Sanitized Copy Approved for Release 2012/02/08: CIA-RDP80-00809A000700110601-0
MAh195I 51-4C
CLASSIFICATION RESTRICTED
SECURITY INFORMATION
CENTRAL INTELLIGENCE AGENCY
INFORMATION FROM
FOREIGN DOCUMENTS OR RADIO BROADCASTS
COUNTRY China
SUBJECT Economic - Finance, industry
HOW
PUBLISHED Yearbook
WHERE
PUBLISHED Hong Kong
DATE
PUBLISHED 5 Feb 1953
LANGUAGE Chinese
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REPORT
CD NO.
DATE OF
DATE DIST. 23 Jun 1953
NO. OF PAGES 3
SUPPLEMENT TO
REPORT NO.
THIS IS UNEVALUATED INFORMATION
FINANCIAL AND ECONOMIC DEVELOPMENTS OF CHINA, 1952
fomment: This report summarizes an article entitled
"Glorious Achievements of New China During the Past Year in
the Field of Financial and Economic Reconstruction" by Shen
Ho and published in the pro-Communist yearbook, 1953 Ching-chi
Nien-pao (The 1953 Economic Yearbook) dated 2 February 1953?
It presents estimated receipts and expenditures, agricultural
and industrial roduction, and domestic and foreign trade of
China foL i952j
Receipts and Expenditures
Using 1951 as the base year, receipts and expenditures for 1952 are es-
timated at 141.66 percent and 155.52 percent, respectively. Farm tax was ex-
pected to reach 8.6 percent, and private enterprise tax, 10.1 percent of the
total receipts. It,was estimated that over 50 percent of the total govern-
ment expenditures for 1952 would be for economic construction and educational
development.
Commodity Prices
Commodity prices have leveled off since 1949. Using March 1950 as the
base month, the price of commodities for December 1950 was 88.60 percent; for
September 1951, 101.30 percent; for December 1951, 100.30 percent; and for
June 1952, 95.20 percent.
Agricultural and Industrial Production
Using 1949 as the base year, food production for 1950 was 117 percent;
for 1951, 128 percent; and for 1952, 300 percent. The food production of
1952 was 9 percent higher than the yearly food production prior to the war
Lorld War If. Using the highest production year prior to 1949 as the base
year fno specific year give, the 1952 cotton production was 155 percent;
STATE fNAW
ARMY AIR
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RESTRICTED
flax production, 559 percent; tobacco production, 294 percent; and sugar pro-
duction, 113 percent. In 1952. the number of livestock increased by 26 per-
cent and sheep by 42 percent 5ase year used for comparison not indicate.
Fisheries production was 3 times more in 1952 than 1949.
Highest Yearly Production Production Estimated Production
Industry Prior to 1949 (%) for 1949 (%) for 1952 (%)
Electric power
Coal
Petroleum
Pig iron
Steel ingots
Steel products
Cement
Cotton yarn
Cotton cloth
Paper
Cigarettes
Matches
Flour
72 115
45 9o
38 136
11 104
16 155
18 167
144
161
90 234
83 145
85 111
87 106
The 1952 coal production goal of China was set at 28.7 percent more than
1951, while the industrial production goal of the North China area was set at
61 percent over the 1951 production.
In 1952, the industries of the Northeast People's Government conserved
some 11,570,220 tons of food under the Practice Economy, Increase Production
Movement.
The following achievements in industrial production were made in China
during 1952:
Northeast China completed 107.9 percent of its coal production goal;
North China, 102.9 percent; East China, 101.7 percent; Central-South China,
129.6 percent; and Southwest China, 110 percent.
2. Petroleum and Fuel
The Yu-men Petroleum Plant has reported that its 1952 production
goal was exceeded as follows: gasoline by 10.5 percent, kerosene by 18.9
percent, and heavy machinery oil by 27.5 percent.
STAT
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 Declassified in Part - Sanitized Copy Approved for Release 2012/02/08: CIA-RDP80-00809A000700110601-0
3. Shih-ching-shan Steel and Iron Works
Using the highest production year prior to 1949 , o specific year
given as the base year, the Shih-ching-shan Steel and Iron Works produced
421.7 percent for 1952.
4. Weaving Industry
In 1952, the weaving industry of China surpassed its 1952 production
goal as follows: cotton yarn, 106.1 percent; cotton cloth, 109.26 percent;
dyed cloth, 117.18 percent; yarn goods, 100.53 percent; and hemp bags, 180.66
percent.
Domestic and Foreign Trade
In 1952, trade with the Soviet Union constituted 70 percent of China's
foreign trade, whereas it was only 61 percent in 1951, and 26 percent in 1950.
Using 1950 as the base year, domestic trade for 1951 was 130 percent and
for 1952, 170 percent. '
From 20 November through 4 December 1952, a Conference on Commodities,Ex-
change was held in South China. Business transactions valued at more than
1.27 trillion yuan were conducted at this conference. Sales of machinery
manufactured in Canton alone totaled 8 billion yuan.
Some 117 industries and 24,000 businessmen participated in the North
China Conference on Commodities Exchange held in Tientsin. Business trans-
actions at this conference totaled some 1.6 trillion yuan.
Private Enterprises
During 1952, private industries were given great stimulus. In Canton
alone, there was an increase of some 2,000 new private enterprises. Ac-
cording to an estimate, during 1952, some 60 cities throughout China, in-
cluding Wu-ch'ang, Hankow, Canton, Chang-sba, Cheng-chou, and Nan-ring,
showed an increase in the number of transactions by private industry.
Declassified in Part =Sanitized Copy Approved for Release 2012/02/08: CIA-RDP80-00809A000700110601 0 0