China’s Economic Blueprint: Shifting to a Service-Driven Future
China’s latest CPC Political Bureau meeting signals a shift to domestic consumption and services-led growth under its dual circulation strategy.
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China’s latest CPC Political Bureau meeting signals a shift to domestic consumption and services-led growth under its dual circulation strategy.
Senior economist Liu Yuanchun unpacks China’s H2 economic roadmap: flexible policy tools to support innovation, consumption, SMEs and foreign trade ahead of the 15th Five-Year Plan.
In October, the 20th CPC Central Committee meets in Beijing to study proposals for the 15th Five-Year Plan, shaping the Chinese mainland’s economic roadmap.
The Chinese mainland’s tax and fee revenue is set to exceed 155 trillion yuan during the 14th Five-Year Plan, with tax cuts totaling 10.5 trillion yuan to boost growth.
Throughout the 14th Five-Year Plan, the Chinese mainland achieved a steady 95% basic medical insurance coverage, enrolling 1.327 billion people and boosting reimbursement rates, fund balances, and drug catalogs.
The Chinese mainland has built the world’s largest high-speed rail, highway and postal networks under its 14th Five-Year Plan, moving millions of travelers and tonnes of goods every day.
SCIO press conference in Beijing on the Chinese mainland’s intellectual property rights achievements under the 14th Five-Year Plan, highlighting strides in innovation protection and global ties.
China is leading a $140B push to build zero-waste cities, funding 3,700+ projects that cut landfill, boost recycling and reshape urban living under its 14th Five-Year Plan.
Since 2021, the Chinese mainland’s manufacturing added value has topped 30 trillion yuan annually. For 15 straight years, it has led global manufacturing, says NDRC head Zheng Shanjie.
China’s 14th Five-Year Plan drove 5.5% annual growth and 50% surge in R&D spending, adding 35 trillion yuan to the economy and opening new global tech opportunities.