Use of foreign capital after the founding of new China
In the early days of the People's Republic of China, limited by historical conditions and levels of understanding, the main direction of China's use of foreign capital was the socialist countries headed by the Soviet Union. The main ways were to use their capital, technology, and direct investment.
1. The policy of introducing foreign government loans
(1) Seek loan support from the Soviet Union
On February 14, 1950, Premier Zhou Enlai and Foreign Minister signed the "China-Soviet Friendship Alliance Mutual Assistance Treaty".
In 1950, Mao Zedong visited the Soviet Union and the two countries signed the "Sino-Soviet Agreement on Soviet Union Loans to the People's Republic of China." According to Article 1 of the agreement: Calculated in US dollars, the total amount is 30 million US dollars. rails and other equipment. The agreement stipulates that the loan interest is 1%.
According to the "Sino-Soviet Agreement on Soviet Loans to the People's Republic of China", China received a US $ 300 million loan from the Soviet Union, but the amount of this loan is less than the Soviet Union's loan to Eastern European countries. At that time, the Chinese government insisted on the principle of self-reliance in economic construction, supplemented by foreign aid. Mao Zedong's explanation for this was: "The request we made is 30 million US dollars, which is paid in several years, so we do not mention more The requirement is because it is better to borrow more than less in the current years. "
Second, the use of foreign direct investment policies
(1) Introduce and utilize foreign direct investment
In the early days of the founding of the People's Republic of China, the task of economic construction was arduous, and the country lacked funds and technology. The country also tried to use direct investment with our friendly countries to establish joint ventures and joint-stock companies to carry out economic construction. In early 1950, the Central Committee of the Communist Party of China called Mao Zedong, who was visiting the Soviet Union, to propose: "This kind of factory and enterprise may be jointly established not only in Xinjiang, not only in the Soviet Union and various new democracies but also in other parts of China. Even groups in imperialist countries He and the capitalists may also ask for this kind of factory enterprise. But if we do not take the initiative to ask the Soviet Union to do it, the Soviet Union will not ask us to do this kind of business. After negotiations between the two sides, on March 27, 1950, China and the Soviet Union signed the "Agreement on the Establishment of Sino-Soviet Petroleum Corporation in Xinjiang, China", "Agreement on the Establishment of Sino-Soviet Nonferrous Metals Corporation in Xinjiang" and "About the Establishment The Sino-Soviet Civil Aviation Joint Stock Company Agreement established Sino-Soviet Petroleum Corporation, Sino-Soviet Nonferrous and Rare Metals Corporation, and Sino-Soviet Civil Aviation Corporation.
(2) Establish basic guidelines for joint venture management
In 1951, China and Poland jointly established Sino-Poland Steamship Joint Stock Company, and the Soviet Union established a Sino-Soviet Steamship Repair and Construction Joint Stock Company in Dalian. So far, China has established a number of joint ventures with the Soviet Union and Eastern European countries. In terms of operation and management, according to the provisions of the previously signed agreement, the above-mentioned companies must adhere to the following basic guidelines in terms of operation: (1) Equalization of shares by both Chinese and foreign parties, that is, each party owns 50% of the shares and enjoys business operation and income Equal rights. (2) The management system adopts the management system under the leadership of the committee. The management committee is elected by the shareholders' general meeting. Each term of office is 3 years. The two sides of the committee send the same number of members. The director of the management committee is elected by the committee, and the general manager of the company is appointed by the management committee. The director and general manager of the management committee shall be taken by the two parties, in turn, changing every 3 years. The issue that the management committee cannot reach an agreement shall be referred to the shareholders of both parties of the company. If the shareholders of both parties cannot reach an agreement, it shall be examined by the governments of both contracting parties. (3) The company's business activities are limited to the scope stipulated in the agreement signed by both governments. The operating conditions of the company, including the payment of taxes and duties from the state or locality, are the same as those enjoyed by Chinese state-owned enterprises. According to the world price, both companies have the right to buy 50% of each company's products. If one party wants to sell all its products, it should first submit to the other party. 50% of the products purchased by the Soviet Union are exempted from customs duties and taxes. If the Soviet Union purchases 50% of the products that China deserves, this part of the products should pay customs duties in accordance with the regulations. (4) The shareholders of both parties shall hand over 30% of the dividends they receive to the People's Republic of China, with the exception of Zhongbo Steamship Company. These contents reflect the requirements of New China for safeguarding national sovereignty integrity and the economic interests of enterprises. It requires not only complete equality in rights, but also complete equality in quantity.
In the early days of the People's Republic of China, limited by historical conditions and levels of understanding, the main direction of China's use of foreign capital was the socialist countries headed by the Soviet Union. The main ways were to use their capital, technology, and direct investment.
1. The policy of introducing foreign government loans
(1) Seek loan support from the Soviet Union
On February 14, 1950, Premier Zhou Enlai and Foreign Minister signed the "China-Soviet Friendship Alliance Mutual Assistance Treaty".
In 1950, Mao Zedong visited the Soviet Union and the two countries signed the "Sino-Soviet Agreement on Soviet Union Loans to the People's Republic of China." According to Article 1 of the agreement: Calculated in US dollars, the total amount is 30 million US dollars. rails and other equipment. The agreement stipulates that the loan interest is 1%.
According to the "Sino-Soviet Agreement on Soviet Loans to the People's Republic of China", China received a US $ 300 million loan from the Soviet Union, but the amount of this loan is less than the Soviet Union's loan to Eastern European countries. At that time, the Chinese government insisted on the principle of self-reliance in economic construction, supplemented by foreign aid. Mao Zedong's explanation for this was: "The request we made is 30 million US dollars, which is paid in several years, so we do not mention more The requirement is because it is better to borrow more than less in the current years. "
Second, the use of foreign direct investment policies
(1) Introduce and utilize foreign direct investment
In the early days of the founding of the People's Republic of China, the task of economic construction was arduous, and the country lacked funds and technology. The country also tried to use direct investment with our friendly countries to establish joint ventures and joint-stock companies to carry out economic construction. In early 1950, the Central Committee of the Communist Party of China called Mao Zedong, who was visiting the Soviet Union, to propose: "This kind of factory and enterprise may be jointly established not only in Xinjiang, not only in the Soviet Union and various new democracies but also in other parts of China. Even groups in imperialist countries He and the capitalists may also ask for this kind of factory enterprise. But if we do not take the initiative to ask the Soviet Union to do it, the Soviet Union will not ask us to do this kind of business. After negotiations between the two sides, on March 27, 1950, China and the Soviet Union signed the "Agreement on the Establishment of Sino-Soviet Petroleum Corporation in Xinjiang, China", "Agreement on the Establishment of Sino-Soviet Nonferrous Metals Corporation in Xinjiang" and "About the Establishment The Sino-Soviet Civil Aviation Joint Stock Company Agreement established Sino-Soviet Petroleum Corporation, Sino-Soviet Nonferrous and Rare Metals Corporation, and Sino-Soviet Civil Aviation Corporation.
(2) Establish basic guidelines for joint venture management
In 1951, China and Poland jointly established Sino-Poland Steamship Joint Stock Company, and the Soviet Union established a Sino-Soviet Steamship Repair and Construction Joint Stock Company in Dalian. So far, China has established a number of joint ventures with the Soviet Union and Eastern European countries. In terms of operation and management, according to the provisions of the previously signed agreement, the above-mentioned companies must adhere to the following basic guidelines in terms of operation: (1) Equalization of shares by both Chinese and foreign parties, that is, each party owns 50% of the shares and enjoys business operation and income Equal rights. (2) The management system adopts the management system under the leadership of the committee. The management committee is elected by the shareholders' general meeting. Each term of office is 3 years. The two sides of the committee send the same number of members. The director of the management committee is elected by the committee, and the general manager of the company is appointed by the management committee. The director and general manager of the management committee shall be taken by the two parties, in turn, changing every 3 years. The issue that the management committee cannot reach an agreement shall be referred to the shareholders of both parties of the company. If the shareholders of both parties cannot reach an agreement, it shall be examined by the governments of both contracting parties. (3) The company's business activities are limited to the scope stipulated in the agreement signed by both governments. The operating conditions of the company, including the payment of taxes and duties from the state or locality, are the same as those enjoyed by Chinese state-owned enterprises. According to the world price, both companies have the right to buy 50% of each company's products. If one party wants to sell all its products, it should first submit to the other party. 50% of the products purchased by the Soviet Union are exempted from customs duties and taxes. If the Soviet Union purchases 50% of the products that China deserves, this part of the products should pay customs duties in accordance with the regulations. (4) The shareholders of both parties shall hand over 30% of the dividends they receive to the People's Republic of China, with the exception of Zhongbo Steamship Company. These contents reflect the requirements of New China for safeguarding national sovereignty integrity and the economic interests of enterprises. It requires not only complete equality in rights, but also complete equality in quantity.
