China’s Economy and the 13th Five Year Plan

IIEA22nd March 20161min
China finalised the 13th Five Year Plan in March 2016. It is a roadmap for China’s social, political and economic development between 2016 and 2020.

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About the Speech:

China finalised the 13th Five Year Plan in March 2016. It is a roadmap for China’s social, political and economic development between 2016 and 2020. The primary objective of the Plan is to ensure medium high growth of 6.5%. However, it also prioritises issues such as innovation, social welfare, urbanisation, green development and anti-corruption.

The plan comes at a time when China is reporting its slowest economic growth rate in 25 years and the Chinese stock market experiences significant turbulence. The Chinese government has described the economic slowdown as a ‘new normal’, where China is transitioning to a more sustainable level of economic growth.

About the Speaker:

Ai Ping is the Vice President of CAFIU, a leading Chinese organisation for the promotion of mutual understanding between China and other countries. In 2013, he became a member of the Committee of Foreign Affairs of the Chinese People’s Political Consultative Conference. In May 2010, he was appointed as Vice Minister of the International Department of the CPC Central Committee, which he held until January 2014. Between 2001 and 2004, he served as Ambassador Extraordinary and Plenipotentiary of the PRC to Ethiopia. He began his career in the International Department of the Communist Party of China (CPC) Central Committee in 1977, where he held positions such as Deputy Division Director, Division Director and Bureau Director General.