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July 23, 2010

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Party getting ready to draft next 5-year plan

The Central Committee of the Communist Party of China will meet in October to draw up the country's next "five-year plan" covering the key period of 2011-2015.

The plan, the 12th since the founding of the People's Republic of China in 1949, will concentrate on transforming the country's export-driven and heavy industry-focused "mode of economic growth" and continue with the construction of a "moderately prosperous society" - one of the key goals of the last plan.

The Political Bureau of the Party's Central Committee met yesterday and agreed that "changes and characteristics of domestic and international situations" had to be taken into account when drawing up the new five-year program.

The coming five years will be a period to tackle the thorny problem of deepening the reform and opening-up process and accelerating the transformation of the economic development pattern, a statement issued after the meeting said.

Economy

The Chinese economy has developed this year as expected and in accord with macro-economic control efforts, the statement said.

"While fully acknowledging the progress made, we should see that the nation's economy faces a complicated domestic and overseas environment, and many problems still exist that could hold back the smooth development of the economy," the statement said.

The meeting vowed to continue a pro-active fiscal policy and a moderately loose monetary policy.

Big checklist

The meeting also called on authorities to, during the second half of the year:

Boost agricultural development and strengthen water conservation efforts;

Boost domestic demand in a sustainable manner and raise urban and rural citizens' incomes;

Keep price levels basically stable;

Strengthen energy-conservation and greenhouse gas-emission reduction efforts;

Promote economic restructuring, the cultivation of strategic emerging industries and to improve the environment for development of the services industry and small- and medium-enterprises;

Boost foreign trade and efficiency in foreign capital utilization while improving the efficiency of the use of foreign capital and helping Chinese enterprises "go out";

Deepen reforms in key sectors, including natural resources and the environment, state-owned enterprises, as well as in taxation and finance, while promoting comprehensive reforms in rural areas;

Safeguard and improve people's livelihood with more public resources and steady growth in employment and regulation of the real estate market.



 

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