The 13th Five-Year Plan (2016-20) suggests that China should keep balanced, stable and quality economic growth at medium to high speed over the next five years.
The core target is to achieve the goal of "comprehensively building a well-off society" by 2020, when China's GDP and per capita income should both be doubled compared with 2010.Maintaining stable medium to high speed growth is key to achieving that goal, which means development will still be the top priority for China over the next five years.
President Xi Jinping said that medium to high speed growth will be conducive to improving people's livelihood and will let ordinary people share the fruits of growth. He also pointed out that the bottom line of China's annual economic growth between 2016 and 2020 is 6.5 percent.
China should achieve quality, efficient and sustainable economic growth by changing its economic growth pattern, optimizing its economic structure, improving the ecological environment and promoting poverty alleviation.
Since China's economy is facing much pressure because of its economic restructuring and the global slowdown. The authorities should pay more attention to absorbing excessive productive capacity, optimizing and upgrading the industrial structure, promoting innovative development and further implementing reform in various sectors.
(China Daily 11/24/2015 page8)
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