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Finance & Economy

10 things the Communist Party wants you to believe about China’s next five-year plan

As China's economic growth slows, China's leaders met on Monday to review the nation's next five-year plan which will provide reforms to help transform the economy and improve people's quality of life. Photo: AFP

As China’s economic growth slows, China’s leaders met on Monday to review the nation’s next five-year plan which will provide reforms to help transform the economy and improve people’s quality of life. Photo: AFP

The Chinese newspaper that serves as the ruling Communist Party’s mouthpiece has outlined 10 objectives that are expected to lead to breakthroughs on the mainland in the next five years.

The targets were revealed on thePeople’s Daily’s Weibo account as the party’s fifth plenum, which will review the nation’s next five-year plan for 2016-20, gets underway.

The five-year plan – a holdover from the Soviet-style centrally planned economy – will provide a blueprint that sets out guidelines in key areas including tackling slowing economic growth, social reforms and the environment.

Here we take a look at the 10 objectives published by the People’s Daily.

Maintain economic growth

Solve major problems that restrict economic and social development and focus on potential future drivers of economic growth.

Transform economic development

Transform China’s economy towards one that is driven by consumption as well as investment and exports, rather than relying simply on investment and exports. There should also be a move away from a solely manufacturing-driven economy to one propelled jointly by agriculture, manufacturing and services. Growth should also be driven by advancements in science and technology, the improved quality of labor and innovation in management models, instead of through the consumption of resources.

Adjust and enhance structure of industry

Speed up the transformation and upgrading of traditional industries and push for the merging of informatisation – the adoption of information technology and computerization – and industrialization. Strategic emerging industries should be encouraged and there should be vigorous development of service industries – especially modern service industries – and the promotion of new business models.

Propel innovation-driven development

Push for greater innovation and development in fields such as technology, industry, enterprises, product design, company management and growth markets.

Speed up the modernisation of agriculture

Transform and speed up agriculture development, including introducing greater innovation in farming technology on the basis of ensuring sustained output of grain and crucial agricultural products.

Institutional and mechanism reforms

Comprehensively deepen reforms and enhance the greater awareness and execution of reforms so that, although the market can play a decisive role, government can offer improved influence over the allocation of resources.

Promote coordinated development

Take effective measures to ensure coordinated development between regions, and between cities and rural areas. There should be accelerated progress in less-developed areas to ensure all people have equal access to basic public services in urban and rural areas.

Improve ecological civilization

Use scientific methods to lay out areas for production, living and ecological use and also ensure solid progress in the fields of ecological and environmental protection to enhance the general ecological environment and improve people’s quality of life.

Enhance people’s livelihoods

Solve problems in the areas that most concern people, including education, employment, income, social security, health care and food safety.

Push for poverty relief

Take new tougher measures to ensure the alleviation of poverty.

Contributed by “Sky in Company” – English/Chinese and Italian/Chinese translation service

Source: SCMP – Ten things the Communist Party wants you to know about China’s next five-year plan


About Sky In Company

I am Genevieve Cheung, originally from Hong Kong. After completing secondary studies, I moved to Australia where I completed a degree in Bachelor of Business Management at the VUT in Melbourne. After graduation I moved to Italy where I have been living for more than twenty years. My vast cultural background and extensive linguistic knowledge (speak and write fluent English, Mandarin/Cantonese Chinese and Italian), allow me to join our company- SKY IN COMPANY (HK/ITALY). We provide main services such as web-site translations from Italian/ English to Chinese/English, and SEO services for the Chinese search engine "Baidu". Our offices, based in Hong Kong and Italy, have a young and dynamic team with collaborators around the world. Sono Genevieve Cheung, originaria di Hong Kong; dopo aver completato gli studi secondari, mi sono trasferita in Australia, dove ho conseguito una Laurea in Bachelor of Business Management presso la VUT di Melbourne. Dopo la Laurea mi sono trasferita in Italia, dove vivo ormai da più di venti anni. Il mio background culturale e la vasta conoscenza linguistica (parlo e scrivo correntemente l’inglese, il cinese mandarino e l’italiano), mi consentono di partecipare in quest’attività di traduzione in Italiano/English/Cinese. La principale attività della nostra ditta – SKY IN COMPANY (HK), consiste nella traduzione in lingua cinese di siti web italiani, nonché di servizi di tipo SEO rivolti al motore di ricerca cinese “Baidu”. La nostra ditta principale, con base in Hong Kong, dispone di un team giovane e dinamico con collaboratori in tutto il mondo. WWW.SKYINCOMPANY.COM skyinhk74@yahoo.com.hk HONG KONG OFFICE: Flat b 15/F, Block 7 Yee Mei Court, South Horizon, Ap Lei Chau, Hong Kong Island Hong Kong Tel: ++852 92235260 ITALY OFFICE: Via Metastasio 27 Firenze 50124 Italy Tel: ++39-347 1429011


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