China’s economy is underpinned by a stable foundation, multiple advantages, strong resilience, and great potential, and the supporting conditions and fundamental trends for long-term sound economic development have not changed, an official said on Friday.
Han Wenxiu, executive deputy director of the Office of the Central Committee for Financial and Economic Affairs, made the remarks during a press conference on the guiding principles from the fourth plenary session of the 20th Communist Party of China (CPC) Central Committee in Beijing.
China’s development has entered a period where strategic opportunities, risks and challenges are concurrent, with increasing uncertainties and unpredictable factors, Han noted, adding that as the world today is undergoing major changes, China meets multiple favorable factors for shaping the external environment.
During the 15th Five-Year Plan, it is imperative to give full play to the advantages of the socialist system with Chinese characteristics, and the advantages of the country’s super-sized market and its complete industrial system to transform these advantages into actual effectiveness of high-quality development.
The recommendations of the CPC Central Committee for formulating the 15th Five-Year Plan outline the major objectives for economic and social development mainly in seven areas, Han said, adding that the major objectives are to make significant achievements in high-quality development; substantial improvements in scientific and technological self-reliance and strength; fresh breakthroughs in further deepening reform comprehensively; notable cultural and ethical progress across society; further improvements in quality of life; major new strides in advancing the Beautiful China Initiative; and further advances in strengthening the national security shield.
