The fourth session of the 12th National People's Congress opens at the Great Hall of the People in Beijing, capital of China, March 5, 2016. [Xinhua]
The fourth session of the 12th National People's Congress opens at the Great Hall of the People in Beijing, capital of China, March 5, 2016. [Xinhua]

The target was unveiled Saturday in the draft outline of the 13th Five-Year Plan for national economic and social development, which will be submitted to the annual session of the National People’s Congress for review.

The fourth session of the 12th National People's Congress opens at the Great Hall of the People in Beijing, capital of China, March 5, 2016. [Xinhua]
The fourth session of the 12th National People’s Congress opens at the Great Hall of the People in Beijing, capital of China, March 5, 2016. [Xinhua]
The 6.5-percent annual growth rate in a five-year period has been the lowest for over three decades.

The draft also sets the country’s economic growth rate at 6.5 to 7 percent in 2016.

The year 2016 is the starting year of China’s 13th Five-Year Plan towards 2020 by when China vowed to complete the building of a moderately prosperous society in all respects.

China’s gross domestic product will exceed 92.7 trillion yuan (14.2 trillion U.S. dollars) in 2020, compared with 67.7 trillion yuan (10.4 trillion dollars) in 2015, the draft says.

The country will implement the innovation-driven development strategy and promote science and technology innovation, mass innovation and entrepreneurship, with supporting reforms and policies, it says.

The draft states that China will stick to and improve the basic economic system, push forward reforms of state-owned enterprises, support development of the non-public sector, further streamline administration, and accelerate reforms in financial, tax and financing systems.

The country will advance the implementation of domestic regional coordinated development strategies and of the Belt and Road Initiative, it adds.

The draft also rolls out measures and reforms in fields ranging from agricultural modernization, manufacturing upgrades, pollution control to poverty reduction, energy conservation and opening up.

Source: Xinhua

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