Deng Xiaoping's Socialist Market Economic Theory Inherited The Ideas Of Lenin's New Economic Policy And Upgrading

In March 1921, Lenin raised new economic policy on the condition of economic and political crises which were caused by wartime policy. The goal of new economic policy was to develop economy by utilizing commodity, currency and market etc. The practice of Lenin's new economic policy initially probed the socialist road for those backward countries on economy and culture. It also provided theoretical and practical enlightenment and lessons for China's construction on socialism. It was theoretical herald of Deng Xiaoping's theory of socialist market economy. Deng Xiaoping carried on Lenin's new economy thought and developed and improved it. He created theory of socialist market economy. Lenin's new economy policy and the following Deng Xiaoping's socialist market economy theory broke through and creatively developed the theory of scientific socialism as well as initiated a new extent of scientific socialism.