China’s Economic and Social Development in 2015
The main tasks and targets for the year were fulfilled;
Progress was achieved and stability ensured in economic and social development;
GDP reached 67.7 trillion yuan, representing an increase of 6.9% over 2014—a growth rate faster than that of most other major economies;
Consumer prices grew slowly;
A total of 13.12 million new urban jobs were created;
The service sector as a proportion of GDP rose to 50.5%;
The contribution of consumption toward economic growth reached 66.4%;
Energy consumption per unit of GDP fell by 5.6%;
The number of newly registered businesses rose by 21.6%, or an average of 12,000 new businesses per day;
Personal disposable income per capita increased by 7.4% in real terms;
The number of rural residents living in poverty was reduced by 14.42 million.
Main Targets and tasks for The 13th Five-Year Plan Period (2016-2020)
Double the 2010 GDP and per capita personal income;
Annual GDP growth: 6.5% or above;
R&D spending 2.5% of GDP;
Science and technology’s contribution to economic growth: 60%;
Permanent urban residents: 60% of the total population;
Registered permanent urban residents: 45% of the total population;
High-speed railways in service: 30,000 km, linking 80% of big cities;
Expressways built or upgraded: 30,000 km;
Full coverage of access to broadband networks;
Improvements to the environment;
Water consumption per unit of GDP: down 23%;
Energy consumption per unit of GDP: down 15%;
Carbon dioxide emissions: down 18%;
Lift all rural residents falling below the current poverty line out of poverty;
New urban jobs: more than 50 million;
Housing units rebuilt in rundown urban areas: 20 million.
Major Areas of Work for 2016
Main development targets
GDP growth: 6.5%-7%;
CPI increase: approx. 3%;
New urban jobs: more than 10 million;
Registered urban unemployment rate: within 4.5%;
Steady increases in imports and exports;
A basic balance in international payments;
Increases in personal income basically in step with economic growth;
Energy consumption per unit of GDP: down more than 3.4%;
Further reductions in the release of major pollutants.
Implement proactive fiscal policy and prudent monetary policy;
Deficit: 2.18 trillion yuan;
Deficit-to-GDP ratio: 3%;
Special bonds for local governments: 400 billion yuan;
Continue to issue local government debt – converting bonds;
Replace business tax with VAT in all sectors;
M2 money supply growth: approx. 13%;
Aggregate financing growth: approx. 13%;
Reform the modern financial regulatory system;
Keep the RMB exchange rate generally stable at an appropriate and balanced level.
Supply-side structural reform
Cancel the requirement of government review for more matters;
Pilot a negative list for market access;
Implement the strategy of innovation-driven development;
Encourage business startups and innovation;
Strengthen protection of intellectual property rights;
Address overcapacity in the steel and coal industries;
Improve SOE performance;
Diversify types of SOE equity;
Protect the property rights of entities under all forms of ownership;
Energize the non-public sector.
Support the growth of consumption in elderly care, health, housekeeping, education, training, cultural, and sports services;
Strengthen the growth of emerging areas of consumption such as information goods and services, smart homes, and personalized fashion;
Cut tariffs on some consumer goods;
Increase the number of duty-free stores;
Speed up tourism development;
Invest more than 800 billion yuan in railway construction;
Invest 1.65 trillion yuan in road construction;
Start construction on 20 water conservancy projects;
Develop hydropower, nuclear power, ultrahigh-voltage power transmission, smart grids, pipelines for oil and gas transmission, and urban rail transit;
Improve the PPP model to stimulate private investment.
Advance new urbanization
Grant urban residency to more people with rural household registration;
Reform the household registration system;
Implement the residence card system;
More ahead with the Belt and Road Initiative;
Promote innovation-driven development of foreign trade;
Launch trials in the area of trade in services;
Adopt a more proactive import policy
Increase the import of advanced technology and equipment, key spare parts and components, and energy and raw materials in short supply in China;
Continue to relax market access restriction on investment;
Further open up the service sector and the general manufacturing sector;
Simplify procedures for establishing overseas-funded enterprise;
Establish more pilot free trade zones;
Achieve greater industrial-capacity cooperation with other countries;
Accelerate implementation of the free trade area strategy;
Negotiate on the RCEP agreement;
Negotiate on the China-Japan-ROK free trade agreement;
Negotiate on investment agreements between China and the United States and between China and the European Union.
Environmental pollution management
Control smog and water pollution;
Develop energy-saving and environmental protection industry;
Step up ecological security.
Improve Living Standards
Promote business development and increase employment;
Promote fairer access to and strengthen the quality of education;
Coordinate and promote reform of medical care, medical insurance and pharmaceutical industry;
Ensure national and public security;
Promote cultural reform;
Strengthen and make innovations in social governance.
Improve government image and enhance governance and service ability
Exercise power in accordance with the law, legalizing all governmental activities;
Exercise power with clean hands and further fight corruption;
Exercise power with diligence , enhancing the government's administrative capacity and public credibility.
The Belt and Road Initiative: The Silk Road Economic Belt and the 21st-Century Maritime Silk Road
An oversight model drawing on random inspections by randomly selected law enforcement officers or inspectors and requiring the prompt release of results
Three stricts and three honests: Be strict in morals, power and disciplining oneself; be honest in decisions, business and behavior
The strategy of Four comprehensives: Comprehensively building a moderately prosperous society, comprehensively driving reform to a deeper level, comprehensively governing the country in accordance with the law, and comprehensively enforcing strict Party discipline
Five development concept of innovation, harmonization, green, openness and sharing
Promote all-round economic, political, cultural, social, and ecological progress
Manufacturer of advanced and quality products
Platforms will be created for crowd innovation, crowd support, crowdsourcing, and crowdfunding
A Beautiful China where the sky is blue, the land is green, and the water runs clear
Targeted poverty alleviation
Supply-side structural reform: Cutting overcapacity, destocking, deleveraging, reducing costs and identifying growth areas
Inclusive and green finance
Mass entrepreneurship and innovation
Coordinated reform of medical services, medical insurance, and the medicine industry
Build the armed forces through political work and reform, and run them by law
We just have to get through this process, and we can, without question, reinvigorate the economy and ensure its dynamic growth.
Rather than adopting strong stimulus policies that would have an economy-wide impact, we continued to move forward with structural reform.
Have our long-term development goals in mind, keep some policy tools as options for later use, strategize our moves, and gather strength.
We will foster a culture of innovation and create an enabling environment for innovation in which people venture to break new ground and failure is tolerated.
Growth in government revenue is slowing, but when it comes to getting things done for the welfare of the people, we mustn't drop a single thing.
We will develop new ways for government funds to be spent and improve the government spending mix to ensure that all essential items receive sufficient funding, while non-essential items are cut.
Governments at all levels must tighten their belts and spend every sum of money where it can be seen and where it’s most needed.
Poverty reduction is a must, governments at all levels have made the pledge, and it must be accomplished both qualitatively and quantitatively within the timeframe set.
We must ensure that the newly revised Environmental Protection Law is strictly enforced, that those who emit pollutants beyond the limit allowed by their permit or without a permit are severely punished, and that those who knowingly allow such violations are held to account.
We must work to build, through tireless efforts, a Beautiful China where the sky is blue, the land is green, and the water runs clear.
We will not be daunted by these problems and challenges. China has from the start been developing while responding to challenges; there is no difficulty we cannot get beyond.
It is the people who are the inexhaustible source of power that drives development. A workforce of over 900 million, of whom over 100 million have received higher education or are professionally trained, this is our greatest resource and strength.
Nothing is more valuable than life, and ensuring public safety is of paramount importance.
We will improve oversight and accountability systems, root out incompetence, inertia, and negligence, and show zero tolerance to for those who are on the government payroll but do not perform their duties.
The wishes of the people should always determine the aim of our governance.
With the people in mind, we will streamline administration.
The best form of governance is that which puts people’s wellbeing first. We must never lose sight of this and do more to improve the lives of our people and address their concerns.
The most formidable tasks demand the greatest sense of mission.
Government workers must take an active approach to their work, carry out effective planning and decisive implementation, fulfill all their duties, and work tirelessly in service of the public.
We will carry out the "Internet Plus government services" model and promote better information sharing between government departments, so that the public and businesses need to make fewer visits to government departments to get things done, find procedures simpler, and find the service satisfactory. We will cut red tape and root out illegalities to ensure that the people have more equal opportunities and greater space for creativity.