China stresses further expansion of domestic consumption
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China will continue the policy of boosting domestic demand to maintain stable and rapid economic development, the 17th Central Committee of the Communist Party of China (CPC) said in a communique released Monday after its fifth plenary session.
"China will strive to foster a growth pattern that is jointly driven by consumption, investment and exports with the improvement of investment structures and establishment of a long-term mechanism to expand domestic consumption," said the document.
The four-day plenum discussed and approved a proposal for formulating the 12th five-year program for national economic and social development, a roadmap for the development of the country in the next five years.
The communique said the government would balance the development of urban and rural regions by boosting rural modernization, strengthening public services and infrastructure construction in rural areas, and increasing farmers' incomes.
The country would also push forward urbanization in a positive and sound manner and achieve balanced development between regions, said the communique.
In the next five years, the government would continue the transformation and upgrading of the manufacturing sector and accelerate the growth of the service sector, while developing strategic emerging industries, it said.
A modern energy industry, a comprehensive transport system, an information-based economy and the marine economy would be among the priorities, it said.
The Central Committee said China should speed up efforts to build a resource-saving and environment-friendly society, proactively combat global climate change and enhance its ability to maintain sustainable development.
The communique also called for more scientific innovation and acceleration of education reform, which would lay a solid foundation for transformation of the economic growth pattern and the construction of moderately well-off society.
