five-year plan socialist cooperatives industrial the first
Following the consolidation of power, Mao launched the first five-year plan (1953–1958), which emphasised rapid industrial development. Within industry, iron and steel, electric power, coal, heavy engineering, building materials, and basic chemicals were prioritised with the aim of constructing large and highly capital-intensive plants. Many of these plants were built with Soviet assistance and heavy industry grew rapidly. Agriculture, industry and trade was organised on a collective basis (socialist cooperatives). This period marked the beginning of China's rapid industrialisation and it resulted in an enormous success.
