Early 1970s Economic Growth, 6th Jan., 2011.

According to Hung-mao Tien's article:

Aside from the changes occurring at the level of the national elite, the overall socio-economic spectrum is also being transformed. By many yardsticks, Taiwan's economy is rapidly modernizing and its growth is impressive. From 1961 to 1973, the annual increase in actual national income averaged about 9-5 per cent 10 and that for per capita income, close to 7 per cent. [11] With a per capita income of over U.S.$500 in 1974, the island is rapidly developing into an industrial consumer society. Latest government figures show that, in 1974, for every 100 families there were 10.48 colour television sets, 71.29 black-and-white sets, 54.9 refrigerators, and 25.35 clothes washing-machines. [12] If private ownership of automobiles has significance, there were 86,535 registered cars in 1974 as compared with 4,635 in 1964, an almost 20-fold increase in a 10-year period. [13] Rapid economic development in Taiwan also means an increasing level of industrialization and of commercial activities. In 1973 the value of industrial production increased to 37.9 per cent as a proportion of all sectors of the economy, as compared with 17.9 per cent in 1952, while the share of agricultural output decreased from 35.7 per cent in 1952 to 15.5 per cent 20 years later. [14] A Kuomintang Central Committee report in April this year revealed that the number of corporate firms with annual sales over U.S.$2-5 million (N.T.$100 million) had increased from 265 in 1971 to 480 in 1973, almost doubling in two years. [15]