19 March 2019

China targets high-income level in next five-year plan

China is drafting the blueprint that will elevate the country to the high-income category, Beijing News reported Thursday, citing Xu Lin, planning director at the National Development and Reform Commission (NDRC).

Currently, China has a per capita GDP of more than US$6,700, placing it under the classification of a mid-to-high-income country, and it is poised to become a high-income country with the implementation of the 13th Five-Year Plan (2016-2020), which is set to be unveiled by end-2015, Xu was quoted as saying.

According to a blue paper released by the Chinese Academy of Social Sciences, the country reached the mid-to-high income level in 2011, based on the standards set by the World Bank.

In the 13th Five-Year Plan, there may be less provisions to further open up industries for competition, while measures will be identified to support environmental protection as results of a mid-term evaluation of the 12th Five-Year Plan indicate that progress in achieving environment-related targets has been unsatisfactory, Xu said.

As for the proposed development of a Beijing-Tianjin-Hebei economic zone, Xu said the NDRC’s Department of Regional Economy is working with the local governments to prepare a comprehensive plan. The plan is likely to be unveiled in June, the newspaper said, citing earlier media reports.

– Contact HKEJ at [email protected]



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