Peripheral Revision

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China Unveils 12th 5-Year Plan – New global standard set for development

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Outline of China’s 12th 5-year Plan

by DeWang on HiddenHarmonies

Chinese Premier Wen Jiabao has just reported on the work of the Chinese government and outlined the country’s 12th 5-year plan (2011-2015). For China watchers, it would be a shame to not be familiar with at least some of these specifics. CCTV has all the materials in English, Russian, Spanish, French, and Arabic. For convenience, I have quoted below “Key targets of China’s 12th five-year plan.” It may sound superficial, but one of the things I like the most is the numbers in the targets.

BEIJING, March 5 (Xinhua) — The draft of China’s 12th Five-Year Plan (2011-2015) was submitted Saturday to the National People’s Congress (NPC), the top legislature for reviewing.
Following are key targets of the draft:
Economic targets
– GDP to grow by 7 percent annually on average;
– More than 45 million jobs to be created in urban areas;
– Urban registered unemployment to be kept no higher than 5 percent;
– Prices to be kept generally stable.
Economic restructuring
– Rise in domestic consumption;
– Breakthrough in emerging strategic industries;
– Service sector value-added output to account for 47 percent of GDP, up 4 percentage points;
– Urbanization rate to reach 51.5 percent, up 4 percentage points.
Innovation
– Expenditure on research and development to account for 2.2 percent GDP;
– Every 10,000 people to have 3.3 patents.
Environment & clean energy
– Non-fossil fuel to account for 11.4 percent of primary energy consumption;
– Water consumption per unit of value-added industrial output to be cut by 30 percent;
– Energy consumption per unit of GDP to be cut by 16 percent;
– Carbon dioxide emission per unit of GDP to be cut by 17 percent;
– Forest coverage rate to rise to 21.66 percent and forest stock to increase by 600 million cubic meters;
Agriculture
– Annual grain production capacity to be no less than 540 million tones;
– Farmland reserves to be no less than 1.818 billion mu.
Livelihood
– Population to be no larger than 1.39 billion;
– Life span per person to increase by one year;
– Pension schemes to cover all rural residents and 357 million urban residents;
– Construction and Renovation of 36 million apartments for low-income families;
– Minimum wage standard to increase by no less than 13 percent on average each year;
Social management
– Improved public service for both urban and rural residents;
– Improved democracy and legal system;
– Better social management system for greater social harmony;
– More than 10 percent of all residents will be registered as community volunteers.
Reform
– Encourage qualified enterprises to get listed in stock markets;
– In-depth reform in monopoly industries for easier market entry and more competition;
– Improved government efficiency and credibility

Road map for China’s social, economic development unfolded

Sun, Mar 06, 2011
China Daily/Asia News Network

BEIJING – Premier Wen Jiabao on Saturday unfolded the road map for China’s social and economic development during the next five years, setting targets for the quality and efficiency of economic growth and speaking about the transformation of the growth mode and economic restructuring.

While delivering his annual government work report, he also listed other priorities that include improving people’s well-being, advancing education and healthcare, conserving natural resources and protecting the environment.

Wen was addressing the opening of the fourth session of the 11th National People’s Congress (NPC), which will run until March 14. His speech highlighted the central government’s draft 12th Five Year Plan (2011-2015), which the NPC deputies – the lawmakers – will review. The draft plan will become official guidelines after it is endorsed by the almost 3,000 deputies.

Graphics: China Daily

According to Wen, the major focus of the government’s work this year will include reining in inflation by keeping the consumer price index, a major gauge of rising costs, to an increase of about 4 per cent.

The government will also boost the incomes of farmers and pensioners, increase consumer demand, enhance agricultural development and speed up economic restructuring.

“Ensuring an adequate food supply for 1.3 billion Chinese people is always a top priority and we must never take this issue lightly,” Wen said.

To achieve the 8-per cent GDP growth goal for this year, Wen listed measures that will ensure more people share in the fruits of reforms and economic development. These include the creation of more than 9 million jobs, reducing the tax burden on low- and middle-income people and increasing government subsidies for the rural cooperative medical care system.

The overall growth goals for the coming five years are pragmatic, with average annual GDP growth set at 7 per cent, 4.2 percentage points lower than China achieved on average between 2006 and 2010.

Despite calls from some officials and experts to speed up urbanization, the draft plan projects a 4-per cent urban expansion rate, 0.5 percentage points lower than the actual urbanization growth rate during the past five years.

Meanwhile, income for urban and rural residents will increase by 7 per cent on average during the coming five years.

http://business.asiaone.com/Business/News/Story/A1Story20110306-266753.html

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Written by peripheralrevision

03/06/2011 at 3:49 am

Posted in China

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