Comment on the Report on Market Prices
(January 14, 1952)

All departments of the Central Committee and the Military Commission, all leading Party members’ groups of the Central People’s Government; all central bureaus, and forward to sub-bureaus and provincial, municipal, and regional Party committees; all greater military regions and the Chinese People’s Volunteers:

The January 11 report on market prices by Chen, Bo, and Li[1] is very good and is hereby issued to you for study. The Three-Antis struggle of the past month and more has already begun to show results in the economic and financial spheres; state expenditures have begun to normalize, and the reactionary conduct of the bourgeoisie has begun to be dealt blows. It is hoped that leading comrades at all levels in our Party, government, military, and civilian organizations will persevere in the struggle and thoroughly accomplish the tasks of the Three-Antis.

Mao Zedong
January 14

[1]
Chen refers to Chen Yun, then Vice Premier of the Government Administration Council and Director of the Financial and Economic Commission. Bo refers to Bo Yibo, and Li refers to Li Fuchun, both then Vice Directors of the Financial and Economic Commission of the Government Administration Council. Their January 11, 1952, report to Mao Zedong and the Central Committee on the financial, price, and market situation since the Three-Antis Movement noted that in December 1951, commodity prices fell by 1% compared to the previous month and by 2.3% compared to the index at the end of September, reversing the previous pattern of a 1% monthly increase; at the same time, the volume of currency in circulation increased, bank deposits grew, and black market rates for foreign exchange, gold, and silver fell, creating a situation of further stabilization in finance and prices. The report held that these were the initial results achieved since the launch of the Three-Antis Movement.