The Chinese communist party is holding a key meeting to figure out a development blueprint for the next 5 years. The 13th five-year plan will be an important document that guides the country’s economic and social development.

An important task on the agenda of the 5th plenary session of the CPCCC (Communist Party of China Central Committee), is the drafting of the 13th five-year plan. It will have a significant impact on China and the rest of the world.

The government has made it clear that the key to maintaining economic growth is by transforming the country’s growth model to a consumption driven one. The economy is moving from an export-led model of growth to a consumption model of growth.

In order to achieve that, coordination of a wide range of different social policies is needed.

CCTV’s Yang Chengxi reports from Beijing

More details:

• Currently, the government spends 70 percent of its fiscal revenue on welfare programs.
• In the 12th five-year plan, the government set an objective of creating 9 million new jobs in the country every year, and it has completed 70% of this goal by mid year.
• The job creation objective is expected to rise to 10 million per year in the 13th five-year plan.

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