5-year plan aims for tech reliance, home spending
Print Edition
CHINA outlined a five-year vision yesterday to develop the country into a powerhouse centered on stronger domestic spending and tech self-reliance.
The 19th Central Committee of the Communist Party of China concluded its fifth plenary session in Beijing with the release of a communique.
The session adopted the CPC Central Committee’s proposals to formulate the 14th Five-Year Plan (2021-25) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035.
President Xi Jinping explained the draft document to the plenary session.
To reach the goals set in the new Five-Year Plan, the communique stressed “high-quality development” over fast-paced growth, with leaders flagging the need to form a “new development pattern” based on strong domestic consumption.
“Science and technology should be self-reliant as a strategic support for national development,” said the communique. It promised to “accelerate the building of a science and technology power.”
It estimated gross domestic product would exceed 100 trillion yuan (US$14.9 trillion) this year. But it also warned of an “increasingly complex” international environment and heightened uncertainties.
The statement also promised to promote “green and low-carbon development” and to raise Chinese living standards. It called for steps to strengthen the 2.3 million-member People’s Liberation Army and to “improve our strategic ability to defend national sovereignty.”
The communique said that the overall leadership of the CPC must be upheld to realize the plan and efforts should be made to mobilize all positive factors and rally all the forces that can be rallied to form a strong synergy to promote development.
Additionally, the CPC has raised a set of long-range objectives for China to achieve socialist modernization by 2035.
China’s economic, technological and composite strength was also stressed, as well as development in new industrialization and the modernization of China’s system and capacity for governance.
The communique also said effort was needed in boosting the well-rounded development of society, including social etiquette and civility and the advancement of eco-friendly ways of work and life.
China’s opening-up, per capita GDP, the implementation of the Peaceful China initiative and well-rounded human development were also highlighted.
This year is the final year of China’s 13th five-year period (2016-20), and the communique highlighted that the implementation of the 13th Five-Year Plan has been smooth.
By adhering to the new development concept and unswervingly advancing reform and opening-up, great achievements have been made since the fourth plenary session, the communique said.
During the past year, China has deepened supply-side reform, enhanced macro-economic regulation and expanded domestic demand as the strategic foundation.
Economic growth has been better than expected, people’s livelihood has been improved and social stability has been maintained.
During the past five years, China has made great progress with stable economic growth and better economic structure, the communique said.
More than 55 million people in China have been lifted out of poverty and China has built the world’s largest social security system in the five-year period, the communique said, adding that the country’s basic medical insurance has covered over 1.3 billion people, and basic old-age insurance has covered nearly 1 billion people.
Meanwhile, during the past five years, more than 60 million new jobs were created in China’s urban areas, it said.
As for the fight against the COVID-19 pandemic, the whole country coordinated the prevention and control work with economic and social development and put people’s safety and health first.
Major country diplomacy with Chinese characteristics was vigorously promoted, and major achievements were made in various undertakings of the Party and state.
The strength of the leadership of the CPC and the Chinese socialist system has been further demonstrated in the past five years, it added.
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