What were the multifaceted obstacles to the development of China's national capitalist economy?

(1) Oppression by foreign capital. As foreign capital practiced commodity dumping and invested directly in enterprises in China, China's market was occupied by their cheap commodities, and the national industries, due to their small scale and backward technology and equipment, found it difficult to compete with their products in the market.

(2) Crowding out of bureaucratic capital. As the bureaucratic capital occupies a monopoly position in many sectors of the national economy, their industries have great advantages in terms of capital, technology, equipment, raw material supply, etc., and it is difficult for the national industries to compete with them.

(3) The fetters of feudal production relations. As the majority of the population of the country's peasants are still subject to the feudal landlord land ownership system, the level of productivity in rural areas is very low, the purchasing power of rural areas is extremely weak, which also makes the domestic market is narrow, the supply of raw materials for light industry is insufficient, the development of national industry and commerce has been greatly restricted.

(4) The oppression of the warlord bureaucratic government. Because of the reactionary government levied heavy taxes, the implementation of economic control policies and inflationary policies, more difficult to operate the national industrial and commercial profits, and into a serious crisis.