2016 is the start of China’s 13th Five-Year Plan, which is crucial for reaching the goal of establishing a “moderately prosperous society.”
The Plan covers supply-side reform, innovation, technological upgrades, market competition, making state-owned enterprises more efficient, and low fossil-fuel dependency.
It also sets a number of growth targets: GPD and per-capita personal income in 2020 to double that of 2010, and annual economic growth being at least 6.5 percent in the next five years.
Other projections: permanent urban residents will account for 60 percent of China’s population, water consumption per unit of GDP will be down by 23 percent, energy consumption down by 15 percent, and carbon dioxide emissions by 18 percent respectively. Improving livelihoods is also high on the agenda.
