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Thursday, October 29, 2020, 17:58
China's GDP expected to exceed 100 trillion yuan in 2020
By Xinhua
Thursday, October 29, 2020, 17:58 By Xinhua

Photo taken on May 22, 2020 shows flags on the Tian'anmen Square and atop the Great Hall of the People in Beijing, capital of China. The third session of the 13th National People's Congress (NPC) will hold its opening meeting at the Great Hall of the People on Friday morning. (XING GUANGLI / XINHUA)

BEIJING - China's gross domestic product (GDP) is expected to cross the 100-trillion-yuan mark in 2020, according to the communique of the fifth plenary session of the 19th Central Committee of the Communist Party of China, which was released on Thursday.

Over the past 12 months, China has seen its economic growth beat expectations, people's living standards ensured, and the overall situation of society remained stable, it added.

The communique was passed at the session held in Beijing from Oct 26 to 29.

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The communique was passed at the session held in Beijing from Oct 26 to 29

Xi Jinping, general secretary of the CPC Central Committee, made an important speech at the session, according to the communique.

The plenary session heard and discussed a work report that Xi delivered on behalf of the Political Bureau of the CPC Central Committee, it added.

The session also adopted the CPC Central Committee's proposals for the formulation of the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035. Xi explained the draft document to the plenary session.

The session was attended by 198 members of the CPC Central Committee and 166 alternate members of the CPC Central Committee.

Also present were members of the Standing Committee of the CPC Central Commission for Discipline Inspection and senior officials of relevant sectors, as well as a number of delegates to the 19th CPC National Congress who work at the grass-roots level, experts and scholars.

Sustained economic growth

According to the communique, China will strive to make new strides in economic development during the 2021-2025 period. The country aims to realize sustained and healthy economic development on the basis of a marked improvement in quality and efficiency, with growth potentials to be fully tapped.

The domestic market will become stronger, the economic structure will be further improved, and the innovation capacity will be significantly strengthened. The industrial base will be upgraded, and the industrial chain will be further modernized. 

China will see more solid foundation for agriculture, and more balanced development between urban and rural areas and between different regions. The country will also make great progress in developing a modernized economy, according to the communique.

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With new steps to be taken in reform and opening up, China will further improve its socialist market economy and basically complete the building of a high-standard market system. Market entities will show more vitality, and significant progress will be made in the reforms of the property right system and the market-based allocation of factors of production, it added.

With the fair competition system to be further improved, China will basically form the new institutions of a higher-level open economy. China's social etiquette and civility shall be further enhanced, while the core socialist values shall be embraced by the people. 

National defense modernization

According to the communique,China will accelerate the modernization of national defense and the military. It called for integrated efforts to build a prosperous country and a strong military while the country's national defense capabilities and economic strength should be strengthened at the same time.

According to the communique, China will accelerate the modernization of national defense and the military

A significant improvement is expected to be made in people's intellectual and moral integrity, cultural and scientific qualities, as well as physical and mental health. The systems of public cultural service and cultural industries will be further advanced, with rich cultural and intellectual activities organized for the public, according to the communique. 

The influence of the Chinese culture will be increased, and the Chinese nation's cohesiveness will be further strengthened, it added.

Ecological civlization

China aims to make new progress in building an ecological civilization, optimize the development and protection of territorial space, and achieve notable results in green transformation of production and lifestyle.

The country will allocate energy and resources more appropriately and raise utilization efficiency. It will continue reducing emissions of major pollutants and improving ecological environment, make ecological security shields more solid, and greatly improve urban and rural living environment, according to the communique.

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The well-being of the people will reach a new level. China will achieve fuller and higher-quality employment, with personal income growth basically in step with economic growth, and marked improvements in distribution structure, it added.

China will further enhance governance capacity, improve socialist democracy and the rule of law, and demonstrate social fairness and justice

The country will also see much more equitable access to basic public services. The education level of the entire population will be continuously improved, while the multi-tiered social security system and health system will be further enhanced.

According to the communique, efforts will also be made to consolidate achievements scored in the fight against poverty and fully promote the strategy of rural vitalization.

Enhancing governance

China will further enhance governance capacity, improve socialist democracy and the rule of law, and demonstrate social fairness and justice. The national administrative system will be perfected, the role of the government will be better played, and the administrative efficiency and credibility will be significantly strengthened, it added.

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The country will step up the level of social governance, especially at the community level, continuously improve the systems and mechanisms to forestall and defuse major risks, greatly enhance the capability to respond to public emergencies and prevent natural disasters, and strengthen security guarantee for development.

Achieving socialist modernization by 2035

The CPC also raised a set of long-range objectives for China to basically achieve socialist modernization by 2035. According to the communique:

- China's economic and technological strength, and composite national strength will increase significantly. A new stride will be made in the growth of the economy and the per capita income of urban and rural residents. Making major breakthroughs in core technologies in key areas, China will become a global leader in innovation;

- New industrialization, IT application, urbanization, and agricultural modernization will be basically achieved. China will finish building a modernized economy;

- The modernization of China's system and capacity for governance will be basically achieved. The people's rights to participate and to develop as equals will be adequately protected. The rule of law for the country, the government, and society will be basically in place;

- China will become a strong country in culture, education, talent, sports and health. The well-rounded development of all people and social etiquette and civility will be significantly enhanced. China's cultural soft power will grow much stronger;

- Eco-friendly ways of work and life will be advanced to cover all areas of society. Carbon emission will steadily decline after reaching a peak, and there will be a fundamental improvement in the environment with the goal of building a Beautiful China basically reached;

- The opening-up will reach a new stage with substantial growth of the country's strengths for participating in international economic cooperation and competition;

- The per capita GDP will reach the level of moderately developed countries. The size of the middle-income group will be significantly expanded. Equitable access to basic public services will be ensured. Disparities in urban-rural development, in development between regions, and in living standards will be significantly reduced;

- The implementation of the Peaceful China initiative will be promoted to a higher level. The modernization of national defense and the military will be basically achieved;

- People will lead a better life, and more notable and substantial progress will be achieved in promoting well-rounded human development and achieving common prosperity for everyone.  

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