In 1962, Ne Win led the Socialist coup d'état, establishing the Revolutionary Council under the Burmese Way to Socialism. In February 1963, the Enterprise Nationalization Law was passed, effectively nationalizing all major industries and prohibiting the formation of new factories. This law adversely affected many industrialists and entrepreneurs, especially those without the full citizenship. The government's economic nationalization program further prohibited foreigners, including the non-citizen Chinese, from owning land, sending remittances, getting business licenses and practicing medicine. Such policies led to the beginnings of a major exodus of Burmese Chinese to other countries—some 100,000 Chinese left Burma.