The Fifth Plenary Session of the 19thCommunist Party of China (CPC) Central Committee was held in Beijing from October 26thto 29th2020. The session deliberated on and approved the Central Committee’s Proposals for Formulating the 14thFive-Year Plan (2021-2025) and Long-Term Objectives through the Year 2035, which made systematic plan and strategic deployment of China’s national economic and social development in long term.
What are the main points of the session? What messages the session transferred to both domestic and international society? In order to help our international students have better view of the session and be closer to China, we collected some important information of the session.
1、What are the key targets of China’s 14thFive-Year Plan?
Making new progress in economic development; taking new steps toward reform and opening up; getting new height of social culture construction; making new achievements inecological civilization construction; getting new level of people’s well being; getting new promotion on effectiveness of national governance.
2、What measures will China take to promote domestic consumption?
Encouraging the development of new consumption pattern and new form of industry; Promoting the transfer from purchase management to usage management of goods such as automobiles; enhancing the healthy development of housing consumption; developing non-contact trade service and integrative development of online and offline consumption; exploring consumption market of rural areas; enforcing policy of paid vacation and enlarging vacation consumption; improving consumption environment and enhancing consumer’s right protection.
3、How will China reduce the income gap between people?
Improving the mechanism for reasonable wage increases, increasing incomes of low income groups, and enlarging middle income group; increasing adjustment measures of tax payment, social insurance, and transfer payments etc.; enhancing the function of the third distribution and developing charity.
4、How will China promote scientific innovation and cooperation?
Innovation is in core position of China’s modernization construction. China will continue to explore scientific innovation with global view, increase innovation ability, and learn from international advanced experiences.
In the future, China will enlarge international cooperation on scientific research, and would like to have more talks and communications with other countries in scientific policies, plans, and technologies etc. to reach more consensus.
China will continue to focus on global issues such as climate change, resources, public health etc. and will support cooperative researches among scientists from various countries.
Moreover, China will further improve legal and policy environment for scientific innovation as well as intelligence right protection so as to provide equal opportunities and convenient conditions for overseasentrepreneurto do business in China, and will try to make China one of the most popular countries for international entrepreneurs.
5、In order to make China a cultural powerful country, what measures will China take in cultural construction?
Enhancing social civilization level, public culture service ability and improving mechanism of modern cultural industry. With the modernization of Chinese society, the soft power and influence of Chinese culture will continue improving.
6、How to interpret the new development pattern called“dual circulation”?
The proposal of 14thFive-Year Plan urges the country to accelerate the establishment of a“dual circulation”development pattern in which the domestic grand cycle plays a leading role while the international cycle remains its extension and supplement. The domestic and international cycle is a complementary whole that can reinforce each other. This does not mean the opening up will slow down. Instead, the scale of China’s import and export, foreign investment utilization, outbound investment will continuously enlarge.
7、In the next 5 year plan, what steps will China take to enhance One Belt One Road initiative?
Continuing the principle of mutual communication and mutual construction; continuing the philosophy of green, open and honesty; enhancing security assurance and mutual development.
Promoting the interactive communication and connectivity of infrastructures and exploring third market cooperation.
Establishing mutual beneficial industrial chain and supply chain cooperation system, deepening international capacity cooperation, and enlarging bilateral trade and investment.
Adhering to enterprise as the main body, and market as guidance; insisting on international conventions and principle of debt sustainability; building a sound and diversified investment system.
Deepening international cooperation on public health, digital economy, green development, scientific and education cooperation and enhancing people to people exchanges.
