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Household responsibility system
practice in China, first adopted in agriculture in 1979 and officially established in 1982, by which households are held responsible for the profits and losses of an enterprise
Pronunciation
/ˈhaʊsˌhoʊld rəˌspɑnsəˈbɪlədi ˈsɪstəm/
/ˈhaʊshəʊld rɪˌspɒnsɪˈbɪlɪti ˈsɪstəm/
Categories
economic policy