The founding of the People's Republic of China was formally proclaimed by Mao Zedong, the Chairman of the Chinese Communist Party (CCP), on October 1, 1949, at 3:00 pm in Tiananmen Square in Peking, now Beijing, the new capital of China. The formation of the Central People's Government under the leadership of the CCP, the government of the new state, was officially proclaimed during the proclamation speech by the chairman at the founding ceremony.

Previously, the CCP had proclaimed the establishment of a soviet republic within discontiguous rebel-held territories of China not under Nationalist control, the Chinese Soviet Republic (CSR) on November 7, 1931, in Ruijin, Jiangxi with the support of the Soviet Union. The CSR lasted seven years until it was abolished in 1937.

The new national anthem of China March of the Volunteers was played for the first time, the new national flag of the People's Republic of China (the Five-starred Red Flag) was officially unveiled to the newly founded nation and hoisted for the first time during the celebrations as a 21-gun salute fired in the distance. The first public military parade of the then new People's Liberation Army took place following the national flag raising with the playing of the PRC national anthem.