From Our Correspondent
BEIJING: China will advance the implementation of major programs set out in the Outline of the 14th Five-year Plan, to better tap the key role of effective investment, the State Council’s executive meeting chaired by Premier Li Keqiang decided.
The major programs span a series of key areas, including scientific and technological advances, infrastructural facilities, environmental protection, people’s livelihoods and cultural heritage, among others. Competent departments across the country have made sound preparations and concrete support policies. A great majority of the programs have kicked off.
Given the much uncertainty and instability in the environment at home and abroad, the meeting stressed the need to steer clear of massive stimulus, maintain the continuity and stability of macro policies and make them more targeted.
“The major programs identified in the Outline of the 14th Five-year Plan are of strategic, fundamental and pace-setting importance. The government needs to make inputs, and the role of private sector also needs to be better leveraged in the course of implementation,” Li said.
“We need to see that these major programs serve the purpose of driving sustained and healthy economic and social development.”
The meeting called for adhering to the law of economics and market principles, and adopting a multi-purpose approach in pushing forward the major programs, to strengthen foundation, increase functions, produce long-term benefits, improve livelihoods and avert risks.
Solid preliminary work will be carried out. The programs in the 14th Five-year Plan will be translated into and delivered through specific projects. The projects will be incorporated into sectoral plans on a priority basis and backed with well-informed implementation arrangements. The projects will be pushed forward year by year in a well-planned manner, to forge a positive cycle among projects planned, projects commenced and projects completed.
Timelines will be specified for single major project. Package projects that are great in number and cover wide-ranging sectors will be advanced with clear focuses and in a results-oriented manner. For major programs with high construction challenges and environmental requirements, in-depth work will be carried out on exploration, selection of solutions and feasibility studies.
Policy support and the supply of factors of production will be scaled up around the major programs. The investment intensity for this year and the next will be well calibrated and fine-tuned as needed in light of changing circumstances.
“Last year, economic growth was mainly driven by tax and fee cuts, and support for market entities.
