The completion of the three major transformations marks the basic establishment of the socialist system.

The three major transformations refer to the socialist transformation of agriculture, handicrafts and capitalist industry and commerce led by the Communist Party of China after the founding of the People's Republic of China. Through agricultural cooperatization, farmers' private land and means of production were transformed into collective ownership, realizing the socialization of agricultural production.

Through cooperativization of handicraft industry, the private means of production of handicraftsmen are transformed into collective ownership, which improves the production efficiency and socialization level of handicraft industry. Through peaceful redemption, public-private partnership and other methods, the means of production of capitalist industry and commerce were transformed into socialist public ownership, and the socialization of industrial production was realized.

The completion of the three major transformations marks the basic completion of China's socialist transformation and lays a solid foundation for subsequent socialist construction. At the same time, this historical experience also provides valuable reference for other developing countries.

The significance of the three major transformations

1. The three major transformations have provided important experience and inspiration for China’s industrialization path, especially in terms of how to deal with the relationship between workers and farmers, and the relationship between urban and rural areas. The three major transformations provided the institutional and material foundation for China's socialist construction and accumulated valuable experience for subsequent socialist construction.

2. Achieving socialist transformation through peaceful transition is conducive to maintaining social stability and creating favorable conditions for the country's political stability and social development. China's socialist transformation has had a wide impact internationally, especially in third world countries, providing a Chinese model for the development of socialism.

3. In short, the three major transformations are important historical events in China’s socialist revolution and construction. They not only completed the socialist transformation of the ownership of the means of production, but also contributed to the establishment of China’s socialist system and economic and social development. All-round development and the international communist movement have had a profound impact.