The three major transformations are the socialist transformation of agriculture, handicrafts and capitalist industry and commerce led by the Communist Party of China after the founding of the People's Republic of China.

Our country’s socialist transformation of private ownership of the means of production in agriculture, handicrafts, and capitalist industry and commerce has enriched and developed the scientific socialist theory of Marxism-Leninism in theory and practice, and greatly promoted the development of industry and agriculture. , social changes in business and the development of the entire national economy. The task of transforming private ownership of the means of production into socialist public ownership was achieved. Politically, the basic system of socialism was initially established in our country; economically, the socialist planned economy was basically established in our country; it opened the way for my country's socialist industrialization; and it has since entered the primary stage of socialism. In early 1956, the socialist transformation of capitalist industry and commerce led to a wave of public-private partnerships in the entire industry, which quickly swept across the country.