China announced its 14th five year plan - basic socialist economic system will be strengthened
China to deepen reforms to achieve high level of socialist market economy
The 19th
Central Committee of the Communist Party of China (CPC) concluded its fifth
plenary session in Beijing on Thursday with the release of a communique. The
14th Five-Year Plan (FYP) (2021-2025) for National Economic and Social
Development and the Long-Range Objectives through the Year 2035 are the key
topics of the communique.
A total of
198 members and 166 alternate members of the CPC Central Committee attended the
meeting.
Also present
were members of the Standing Committee of the CPC Central Commission for
Discipline Inspection and senior officials of relevant sectors, as well as
experts, scholars and several deputies of the 19th CPC National Congress who
work at the grassroots level.
CPC
leaders Xi Jinping, Li Keqiang, Li Zhanshu, Wang Yang, Wang Huning, Zhao Leji
and Han Zheng attend the fifth plenary session of the 19th Central Committee of
the Communist Party of China in Beijing.
The 14th
Five-Year Plan (FYP) (2021-2025) for National Economic and Social Development
and the Long-Range Objectives through the Year 2035 are the key topics of the
communique. The communique said that China will comprehensively deepen reform
in pursuit of a high-level socialist market economy.
"China
will uphold and improve the basic socialist economic system, give full play to
the decisive role of the market in resource allocation, let the government
better play its role, and promote the better integration of an efficient market
and a capable government," according to the document.
The plenary
session reviewed the achievements during the 13th Five-Year Plan and raised a
set of long-range objectives for China to basically achieve socialist
modernization by 2035, when China's economic and technological strength and
composite national strength will increase significantly.
The plenary
session reviewed the achievements during the 13th Five-Year Plan and raised a
set of long-range objectives for China to basically achieve socialist
modernization by 2035, when China's economic and technological strength, and
composite national strength will increase significantly.
The country
will smooth domestic circulation and let domestic and international circulation
reinforce each other, spurring consumption in an all-round way and expanding
investment, the document also noted.
Here is a
look at all the highlights from the communique of the meeting.
Decisive
success made in building a moderately prosperous society in all respects
This year is
the final year of China’s 13th Five Year Plan (2016-2020), and the
communique highlighted that the implementation of the 13th FYP 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 13th FYP period, which is coming to an end in 2020, China has made great progress with stable economic growth and better economic structure, the communique said, noting China's GDP is expected to surpass the 100 trillion Yuan ($14.9 trillion) mark in 2020.
China has
built the world's largest social security system in the 13th FYP 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.
With regards
to the blueprint for the future, the communique stressed that the whole Party
must take into account the overall strategic plan for the great rejuvenation of
the Chinese nation with major changes in the world that have not occurred in a
century.
A thorough
understanding is necessary about the new characteristics and requirements
brought about by the changes in the evolution of the principal contradiction
facing Chinese society, it said.
Also, given
that China is in the primary stage of socialism, more attention should be paid
to the new contradictions and challenges brought by the complex international
environment.
The
communique underlined the importance of strengthening awareness of
opportunities and risks and cultivating opportunities amid crisis.
Additionally,
the CPC has raised a set of long-range objectives for China to achieve
socialist modernization by 2035.
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.
As for the
goals to be reached during the 14 FYP period, the communique said that the
overall leadership of the CPC must be upheld to realize the 14th FYP 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.
Proposals
to reach the goals
- Uphold the central role of innovation
in its modernization drive and implement an innovation-driven strategy.
- Build a modern industrial system and
upgrade the economic structure. It will continue to support the real economy,
improve manufacturing power and modernize the industrial and supply chain to
improve high-quality growth and core competitiveness.
- Nurture a strong domestic market and
establish a new development pattern. The country will smooth domestic
circulation and let domestic and international circulation reinforce each
other, spurring consumption in an all-round way and expanding investment.
- Deepen reform comprehensively in
pursuit of a high-level socialist market economy.
- Prioritize the development of
agriculture and rural areas and fully advancing rural vitalization.
- Advance coordinated regional
development and a new type of urbanization.
- Promote the cultural sector and
improve its cultural soft power.
- Accelerate green and low-carbon
development, continuously improve the environment and quality and stability of
ecosystems and raise the efficiency of resource utilization.
- Pursue high-level opening-up and
explore new prospects of win-win cooperation.
It will
continue to widen the opening-up and leverage the advantages of its huge market
to promote international cooperation and achieve win-win results.
- Improve people's standard of living
and actively implement strategies to address the aging population.
- Strengthen national security
capabilities and increase the capacity to deal with traditional and
non-traditional security challenges to protect people's lives and security and
maintain social stability.
- Maintain the long-term prosperity and
stability of the Hong Kong and Macao special administrative regions and promote
the reunification of the Chinese mainland and Taiwan, as well as peaceful
cross-strait development.
It aims to
keep a stable external environment and promote the building of a new type of
international relations and a community with a shared future for humanity.
(the source of this article is CGTN)
Khalid Bhatti
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