The Chinese working class need profits too ! (1978)

From the July 1978 issue of the Socialist Standard

“It is the glorious responsibility of socialist enterprises to work hard to increase accumulation for the State and make greater profits.

“All enterprises, except those which are allowed to run at a loss under the State policy, must have profits and no losses are allowed. We must strive to increase accumulation for socialism, resort to every means energetically to publicize the importance of increasing accumulation for the state, and commend those advanced units and individuals who have consistently increased production and practised economy and who have turned a losing unit into a profitable one. We must make everyone familiar with the slogan, 'It is glorious to accumulate funds for the State and shameful to lose money’, so that the masses will take concrete action to make greater profit greater accumulation and greater contributions for the State.

“Enterprises which fail to make profits for the State and enterprises which run at a loss cannot be selected as Taching-type enterprises. Profitable enterprises must continue to tap their potentials and strive to lower the production costs and make still greater profits”.

Extracts from an editorial in the Chinese newspaper People’s Daily, 27 August 1977 Source: BBC Summary of World Broadcasts (Far East), no. 5602, 31 August 1977