Page 6 - Explanation of the Recommendations of the Central Committee of the Communist Party of China for Formulating the 15th Five-Year Plan for National Economic and Social Development

this window of opportunity to consolidate and build on our strengths,
remove development bottlenecks, shore up areas of weakness, seize the
strategic initiative amid intense international competition, and secure major
breakthroughs in strategic tasks of overall importance to Chinese
modernization. All of this will allow us to secure decisive progress toward
basically achieving socialist modernization.
Second, economic and social development objectives for the 15th
Five-Year Plan period
Setting development objectives in a well-conceived way is crucial to the
formulation and implementation of five-year plans. In the draft document, we
have defined the main objectives for economic and social development
according to the basic positioning of the 15th Five-Year Plan period and the
specific requirements for this stage. An important benchmark for basically
achieving socialist modernization by 2035 is that China’s per capita GDP will
be on a par with that of a mid-level developed country by that time. This
dictates that we must maintain an appropriate rate of economic and social
development during the 15th Five-Year Plan period. On the basis of thorough
research and scientific analysis, the draft document puts forward a range of
important objectives, such as ensuring economy keeps growing within an
appropriate range, realizing steady gains in total factor productivity, fully
unleashing the potential for growth, ensuring personal incomes increase in
step with economic growth and remuneration rises in tandem with labor
productivity increases, and continuing to expand the middle-income group.
In addition, in response to prominent issues in the current stage, such as
mounting downward economic pressure and insufficient effective demand,
the draft document also sets out objectives, including delivering a notable
increase in the rate of consumer spending and reinforcing the role of domestic
demand as the principal engine of economic growth.
Based on past experience, the objectives for economic and social
development in this draft document are primarily qualitative in nature, as it is
a document of overall guidance. The necessary quantitative requirements and
certain specific arrangements should be studied and determined during the
formulation of the 15th Five-Year Plan for National Economic and Social
Development.
Third, promoting high-quality development
Following the approach of the 14th Five-Year Plan, this draft document
also defines the promotion of high-quality development as the main focus in

economic and social development in the 15th Five-Year Plan period. It sets the
requirements of continuing to pursue economic development as our central
task, fully and faithfully applying the new development philosophy on all
fronts, promoting higher-quality economic growth while achieving an
appropriate increase in economic output, and driving sustained, sound
economic development and all-around social progress. To promote
high-quality development, we must first and foremost intensify efforts
toward achieving greater self-reliance and strength in science and technology,
actively develop new quality productive forces, and deliver substantial
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