June 3, 1988
We are carrying out reform in a vast, poor country, and there is no precedent for this anywhere in the world. During the past 39 years of economic development, we have learned from both our successes and our failures. However, we cannot rely solely on our own experience to solve all problems. To develop its economy and shake off poverty and backwardness, China must open to the outside world. By opening up, we mean not only making more contacts with other countries but also drawing on their experience. Unfortunately, we wasted 20 years after 1957, while during those two decades the world developed rapidly. On the other hand, this was useful to us in a way. The experience gained during those 20 years -- particularly the lessons of the ``cultural revolution'' -- taught us that we could not proceed unless we carried out reform and formulated new political, economic and social policies. Accordingly, at the Third Plenary Session of the Eleventh Central Committee of the CPC, we formulated a series of principles and policies and thus took a new path. These policies can be summarized as reform and opening up.
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