Home PoliticsAsia China’s 14th Five-Year Plan

A news report by China.org.cn on the China’s 14th Five-Year Plan for National Economic and Social Development and the Long-Range Objectives Through the Year 2035:

At the fourth session of the 13th National People’s Congress (NPC), the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035 was approved. The plan clearly states that during the 14th Five-Year Plan period, China will accelerate the establishment of a new development pattern of “dual circulation,” where domestic and foreign markets can boost each other, with the domestic market as the mainstay, and start a new journey of building a modern socialist country with a new development concept.

China’s five-year plans are a series of social and economic development initiatives issued since the 1950s, which map strategies, put forward targets and set corresponding policy-making directions. They are an important way in which the Communist Party of China (CPC) governs the country.

In 1953, China drew up its first five-year plan when the country needed to build its capacity from scratch. The 1st Five-Year Plan (1953-1957) set out the basic task of laying the foundations of China’s industrialization and completing its socialist transformation. During that period, China successfully produced its first car, its first jet aircraft and the Wuhan Yangtze River Bridge. By the end of 1957, China’s total industrial output had increased by 128.6% compared with 1952.

In 1986, China drew up the 7th Five-Year Plan (1986-1990). This plan, devised after the reform and opening-up of China, included for the first time sections on “expanding external economic and technological exchanges” and “investment structure and policy,” and also placed the development of science and education in important strategic positions. During the 7th Five-Year Plan period, China’s economic system underwent major changes, with the Shanghai Stock Exchange starting operations in December 1990.

In the last five years (2016-2020) of building a moderately prosperous society in all respects, the 13th Five-Year Plan highlighted “innovation” and “reform.” It also set out key tasks including targeted poverty alleviation, construction of the Belt and Road Initiative, integration of Hong Kong and Macao into overall national development, and strengthened the crackdown on corruption. By the end of 2020, China’s GDP exceeded the threshold of 100 trillion yuan ($15.42 trillion). Meanwhile, the Fuxing bullet trains, Hong Kong-Zhuhai-Macao Bridge, C919 airplane, Chang’e-4 spacecraft, Beidou Navigation System and other achievements have become new icons of China.

China’s five-year plans can be said to have charted the path of national economic and social development, and recorded the entire process of the country’s growth.

From the 1st to 14th Five-Year Plan, China has been marching toward the same goal, that is, to achieve modernization. The consistency of targets, long-term decisions, stability and continuity of guidelines are distinguishing features of China’s governance system.

Now, the new 14th Five-Year Plan and the Long-Range Objectives Through the Year 2035 will lead the Chinese people toward building a great modern socialist country with a brighter future.

You may also like

logo-white

Your Trusted Source for Capital Markets & Related News

Latest Articles

© 2024 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.