Five-Year Plans, method of planning economic growth over limited periods, through the use of quotas, used first in the Soviet Union and later in other socialist states. ... In China, the first Five-Year Plan (1953–57) stressed rapid industrial development, with Soviet assistance; it proved highly successful.

Were Five Year Plans Successful?

Successes of the first five-year plan

Areas like capital goods increased 158%, consumer goods increased by 87%, and total industrial output increased by 118%. ... The largest success of the first five-year plan, however, was the Soviet Union beginning its journey to become an economic and industrial superpower.

What were the results of Stalin's 5 year plan?

Through this plan, Stalin's efforts to bring more people into the industry was successful, thus allowing the number of workers of double, resulting in massive increases in the production of capital goods. This then enabled the USSR to become one of the world's greatest industrial powers.