Healthier growth to reshape a changing China

0 Comment(s)Print E-mail Xinhua, November 13, 2012
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To Chinese officials and entrepreneurs who have gotten used to high-speed growth in past years, the coming decade may be quite different, as they will have to readapt to a country that is growing at a slower pace.

When outlining the development objectives for the next eight years in his report to the 18th National Congress of the Communist Party of China (CPC), Chinese leader Hu Jintao said China's 2020 GDP and per capita income should double that of 2010.

To realize this goal, China has to maintain an average economic growth rate of around 7 percent annually, compared with the double-digit GDP growth seen since 1978, when it initiated the reform and opening up drive.

The readjusted GDP development goal is aimed at making China's development "much more balanced, coordinated and sustainable", Hu said.

Transition underway

Analysts believe it won't be difficult for the CPC to deliver on their promise by 2020.

"By setting such a target, the CPC has sent a signal to the outside world that it will scale down its economic growth on its own initiative," said Li Yang, vice president of the Academy of Social Sciences.

Policymakers, Li said, will pay more attention to the quality of development and focus more on improving people's lives in the future.

Grim realities have forced top policymakers to lower the country's future growth, as the Chinese are more aware of the importance of protecting their environment.

A recent protest against a chemical plant that was slated to be built in China's eastern city of Ningbo in July followed a series of similar events in other cities in Sichuan and Liaoning provinces over the past two years.

Such protests have forced the ruling party to set its future governance agenda to face mounting challenges from the people, who are increasingly reluctant to sacrifice the environment for economic growth.

Hu urged CPC members to raise their ecological awareness, saying that promoting ecological progress will be a long-term task of vital importance for the people's wellbeing and China's future, as the country is facing increasing resource constraints, severe environmental pollution and a deteriorating ecosystem.

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