Since the formation of the PRC, an enormous effort was made towards creating economic
growth and entire new industries were created. Tight control of budget and money supply
reduced inflation by the end of 1950. Though most of it was done at the expense of suppressing
the private sector of small to big businesses by the Three-anti/five-anti campaigns between 1951
to 1952. The campaigns were notorious for being anti-capitalist, and imposed charges that
allowed the government to punish capitalists with severe fines. In the beginning of the
Communist party's rule, the leaders of the party had agreed that for a nation such as China,
which does not have any heavy industry and minimal secondary production, capitalism is to be
utilized to help the building of the "New China" and finally merged into communism