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China First Automobile Works Group Corp. (FAW) was one of the 156 major projects during the First Five-Year period. China chose to give priority to the development of heavy and national defense industry. A number of cities featuring production and manufacturing of coal, steel and iron, chemical and machinery products as well as textile laid the foundations for the country's industrial development.
"We set up a complete industrial system during the first 3 years following the founding of new China. The annual growth at that time was 11 percent. That special period also left us with spiritual wealth such as the “ironman spirit'", said, Gao Liang, an official with National Development and Reform Commission (NDRC).
Reform and opening up, a turning point in China's economic development, helps us find a way of building a modern industrial path with Chinese characteristics. Market economy, opening up to the outside world and structural adjustment bring about great advances in industrial production.
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