The Chinese communist party’s approach when it took power was to institute a <u>"Planned economy"</u>
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The history of the Chinese Communist party began with its establishment in July 1921. A look at a group led by Peking university professors Chen Duxiu and Li Dazhao to discuss Marxism, brought about intellectuals officially founding the Chinese Communist party (CCP) in July 1921.
In 1923, Sun Yat-sen invited the CCP to form a United front and to sign up for his Nationalist party (GMD) in Canton for training under representatives of the Comintern, the Soviet Union's international organization.
The Soviet representatives reorganized both parties into Leninist events. Rather than a loose organization that characterized the 2 parties till then, the Leninist party operated on the principle of democratic centralism, in which the collective management set standards for membership and an all-effective central Committee determined the party line, which all members should observe.
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