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Tuesday, November 3, 2015, 22:55

China unveils Thirteenth Five-year Plan roadmap

By Xinhua

China unveils Thirteenth Five-year Plan roadmap
The Fifth Session of the 18th CPC Central Committee, which was held last week, adopted proposals for economic and social development in the 13th Five-year Plan (2016 to 2020). (Photo/Xinhua)

BEIJING - The Communist Party of China (CPC) on Tuesday issued the full text of proposals for mapping out a blueprint for China's development over the next five years starting 2016.

The document, the CPC Central Committee's Proposal on Formulating the Thirteenth Five-year Plan (2016-2020) on National Economic and Social Development, was adopted at the Fifth Session of the 18th CPC Central Committee which ended Oct 29.

President Xi Jinping in Beijing on Tuesday that China's 13th five-year plan for national economic and social development will offer opportunities for the whole world.

Calling reform key to China's destiny, Xi said the Fifth Plenary Session of the 18th Communist Party of China Central Committee, held in Beijing last week, had put forward reforms of "unprecedented" strength and range.

"China's 13th five-year plan cannot be realized without substantial cooperation from the world," Xi said.

"We will continue to deepen reform in various areas, stick to a peaceful development road and an open strategy, and let the world benefit," he said.

BOTTOM LINE GROWTH TARGET

Explaining the proposal on Tuesday, President Xi said the country's annual growth rate should be no less than 6.5 percent in the next five years to realize the goal of doubling GDP and per capita income by 2020 on the basis of 2010.

"Maintaining a medium-high level of growth is conducive to improving people's livelihoods so that they can truly benefit from the success of the country in comprehensively building a moderately prosperous society," Xi said.

"In the next five years, China's development should not just be focused on growth pace, but also growth volume, and, more importantly, growth quality," Xi said.

The president also said the country will endeavor to make breakthroughs in a series of strategic science and technology projects by 2030, according to a statement issued by the CPC.

Gross domestic product (GDP) per capita in China has increased to about US$7,800, according to the document released on Tuesday.

During the 2011-2015 period, the value added of tertiary industry surpassed secondary industry for the first time, according to the document.

Urban residents account for 55 percent of the total population, it said.

China will continue to open up its economy to attract foreign investment and encourage Chinese firms to make overseas investment, according to the proposal unveiled Tuesday.

Sectors with natural monopoly features will be opened up for investment over the next five years and efforts will be accelerated to open up competitive businesses of sectors such as oil, natural gas, electricity, telecommunications, transportation and utilities.

The country will accelerate reforms in its financial system to establish a transparent and healthy capital market.

China will overhaul issuance and trading mechanism of stocks and bonds, encourage direct financing, and lower leverage ratio, according to the CPC Central Committee's proposals.

ENERGY REVOLUTION

A Green Development Fund will be established to promote a clean production mode and sustainable growth.

This as the proposals released Tuesday promised that China will wage an "energy revolution," by ramping up the exploration of clean, safe resources to replace coal and other fossil fuels.

China will pilot programs to restore farm land through crop rotation, President Xi said.

Farm land has been over-exploited, resulting in issues such as water loss and soil erosion. As consecutive bumper grain harvests have caused storage pressure, China should take the opportunity to pilot agricultural restoration programs, Xi said.

The CPC has said that education will cultivate the next generation's "innovation edge."

The CPC wants to equip students with "social responsibility, an innovative spirit and the ability to put ideas into practice," and these characteristics will be the basis for educational reform in the next five years, according to proposals unveiled on Tuesday.

China will also reform the current environmental protection management system, in an attempt to make the watchdog more independent, President Xi said.

Provincial-level environmental departments will be put directly in charge of the city level and allocating the budget, Xi said.

"The move will ensure effective law enforcement by local environment watchdogs," said the President.

NARROWING INCOME GAP

On agenda is to narrow the income gap and raise the proportion of middle-income population in the next five years.

In fact, the CPC iterated its determination to fight poverty, pledging to step up financial support to impoverished areas in the next five years.

Ridding the rural population of poverty has been tagged the most arduous challenge that China faces in its ambition to build a moderately prosperous society, according the proposals released Tuesday.

China will adopt a series of targeted poverty-relief policies and improve infrastructure in rural areas, including roads, access to water, power and Internet, the CPC said, pledging to enhance education, healthcare and public services in poor areas.

As of the end of 2014, China had 70.17 million people in rural areas living below the poverty line. In China, this is set at an annual income of 2,300 yuan (US$376) by 2010 price standards.

China plans to lift all of its poor out of poverty by 2020, according to a communique released after the CPC plenary meeting.

President Xi said China is able to achieve the 2020 poverty relief target.

"If the government takes concrete and effective action, China can lift 10 million people out of poverty every year from 2016 to 2020," said the president.

"The social security system will cover the remaining 20 million poor people who are unfit to work, and they will receive financial aid to ensure they live above the poverty line," said the president.

'HEATLHY CHINA'

The Communist Party of China (CPC) vowed to build a "healthy China" by reforming its health system, and promote the balanced development of its population by implementing the two-child policy.

The proposal unveiled on Tuesday called for an efficient basic healthcare system in both urban and rural areas and modern management of hospitals.

The proposal encourages the private sector to run health services with the same status as public institutions.

Traditional Chinese medicine will be well supported. The proposal suggests prevention as the most efficient way of lowering the costs associated with many diseases. Medicines will be appropriately priced and the free supply of special medicines for HIV should be increased, and costs for treating other chronic diseases should be lowered.

Men and women are equal, the CPC said in the statement, vowing to protect the rights of women and minors. Help for people with disabilities should be improved.

China's plan to allow all couples to have two children will balance the population and support development, President Xi said.

The CPC also called for deepening reform of health system, building a basic health care system covering both the urban and rural areas and a modern management system for hospitals.

The government will continue to improve infrastructure development in the western region while rejuvenating the northeastern industrial hub and facilitating the rise of the central region, in a bid to achieve balanced growth.

Also on agenda is to support RMB's bid for inclusion in the IMF Special Drawing Right (SDR) basket and push ahead with capital account liberalization and the internationalization of RMB.

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