On this day, 69 years ago, July 26, 1956 (June 19, 1956 in the lunar calendar), the country began to carry out socialist transformation of private industry and commerce. On July 26, 1956, the Central Committee of the Communist Party of China agreed to the "Instructions on Certain Issues in the Socialist Transformation of Private Industry and Commerce, Handicraft Industry, and Private Transportation Industry" issued by the State Council. It is required that small vendors in public-private joint stores and cooperative stores that have not participated in fixed shares and fixed interests should, on a voluntary basis, gradually form decentralized and loss-making cooperation groups in branches and localities.