China’s five-year plan to tame economy dragon
In a bid to halt the continued economic slowdown, and emerge as a moderately prosperous society by 2021, on Communist Party of China’s 100th anniversary, China’s parliament yesterday approved a new five-year plan, laying out the economic and social development blueprint that sets a target of an average annual economic growth of above 6.5 per cent
By : migrator
Update: 2016-03-16 23:07 GMT
Beijing
Long march to prosperity
- China sets target year as 2020 to double double GDP and per capita personal income from the 2010 level
- By 2020, the size of China’s economy is expected to exceed 90 trillion yuan (USD 13.8 trillion) compared with 67.7 trillion yuan in 2015, according to the plan
- The five-year plan aims at achieving medium- high growth in the next five years
- Adopts charity law, effective September this year, easing restrictions on fund-raising and charity group operations
- We are confident that as long as we continue to reform and open up, China’s economy will not suffer a hard landing,” said China’s Premier Li Keqiang
- China’s economy expanded by 6.9 percent last year, its weakest pace in a quarter of a century
- China to cut red tape for businesses, work to reduce corporate debt, improve financial regulation
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