page_title: Deng Xiaoping's southern tour
section_title: Effects
hierarchical_section_title: Deng Xiaoping's southern tour / Effects
caption_attribution_description: 深圳证券交易所
context_page_description: Deng Xiaoping's southern tour, or 1992 southern tour, was the tour of Deng Xiaoping, then retired paramount leader of China, in southern China including Shenzhen, Zhuhai, Guangzhou, Shanghai from January 18 to February 21, 1992. The talks and remarks made by Deng during the tour resumed and reinforced the implementation of his "Reforms and Opening-up" program in mainland China, which came to a halt after the 1989 Tiananmen Square protests. Deng wished that Guangdong Province would catch up with the "Four Asian Tigers" in terms of economic development within 20 years. The 1992 Southern Tour is widely regarded as a critical point in the modern history of China, as it saved the Chinese economic reform as well as the capital market, and preserved the stability of the society.
  During the tour, Deng emphasized to several military leaders of the People's Liberation Army including Yang Shangkun, Liu Huaqing and Yang Baibing, that "those who do not promote reform should be brought down from their leadership positions", forcing Jiang Zemin, then General Secretary of the Communist Party of China, to support and continue the Reforms and Opening-up program.
context_section_description: Deng's new wave of policy rhetoric gave way to a new political storm between factions in the Politburo of the Communist Party of China. Jiang eventually sided with Deng in April 1992, and the national media finally reported Deng's southern tour almost two months after it completed. Observers suggest that Jiang's submission to Deng's policies had solidified his position as Deng's heir apparent. Behind the scenes, Deng's southern tour aided his reformist allies' such as Zhu Rongji climb to the apex of national power, and permanently changed China's direction toward economic development. In addition, the eventual outcome of the southern tour proved that Deng was still the most powerful man in China.
  Deng's southern tour saved China's capital market and protected the two stock exchanges in China: the Shanghai Stock Exchange (since November 1990) and the Shenzhen Stock Exchange (since December 1990). Moreover, his insistence on economic openness aided in the phenomenal growth levels of the coastal areas, especially the "Golden Triangle" region surrounding Shanghai. Deng reiterated the general policy that 'some areas must get rich before others', and asserted that the wealth from coastal regions will eventually be transferred to aid economic construction inland. The theory, however, faced numerous challenges when put into practice, as provincial governments moved to protect their own interests.
caption: Shenzhen Stock Exchange
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