On August 17, 1964 (the tenth day of the seventh lunar month), our country tried to establish a trust.

On August 17, 1964, the Central Committee of the Communist Party of China and the State Council agreed and approved the report of the Party Group of the State Economic Commission on the Opinions on Pilot Industrial and Transportation Trusts.

The report pointed out that the use of trusts to manage work is a major reform in the industrial management system. The central competent department and party committees at all levels should pay full attention to it and concentrate on running this batch of trial trusts first. To strengthen leadership, first send capable cadres to lead the trust, so as to gain experience through typical experiments. The first industrial trust, China Tobacco Company, which was piloted by the Central Committee of the Communist Party of China in March last year, has achieved obvious economic benefits.