37 years ago today, February 27, 1988 (January 11, 1988), the State Council issued the specific provisions of the enterprise contractual management responsibility system. February 27, 1988 the State Council issued the provisions of the provisional regulations on the contractual management responsibility system of all-owned industrial enterprises, a total of 7 chapters and 45 articles, specific provisions on the content and form of the contractual management responsibility system, the contractual management contract, the rights and obligations of both contractual management contracts, the management of enterprises and contractual management enterprises.