Enterprises, such as banks, railways and airlines, whether Chinese-owned or foreign-owned, which are either monopolistic in character or too big for … - Mao Zedong

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Enterprises, such as banks, railways and airlines, whether Chinese-owned or foreign-owned, which are either monopolistic in character or too big for private management, shall be operated and administered by the state, so that private capital cannot dominate the livelihood of the people: this is the main principle of the regulation of capital. This is another solemn declaration in the Manifesto of the Kuomintang's First National Congress held during the period of Kuomintang-Communist co-operation, and it is the correct policy for the economic structure of the new-democratic republic. In the new-democratic republic under the leadership of the proletariat, the state enterprises will be of a socialist character and will constitute the leading force in the whole national economy, but the republic will neither confiscate capitalist private property in general nor forbid the development of such capitalist production as does not "dominate the livelihood of the people", for China's economy is still very backward.