Year 2010 is the last year in the 11th Five-Year Plan (2006-2010). The following is a review of some major targets set during the period:
GDP: an average 7.5-percent annual growth in gross domestic product (GDP) is set. According to official statistics, from 2006 to 2009, the growth of GDP was 11.6 percent, 13 percent, 9.6 percent and 9.1 percent, respectively. Further, GDP growth in the first half of 2010 was 11.1 percent.
Energy efficiency: a 20-percent reduction (comparison between year 2005 and year 2010) in energy consumption per unit of GDP is set during this period. In the first four years of the 11th five-year plan, a 15.6-percent reduction (comparison between year 2005 and year 2009) was reached. But energy consumption per unit of GDP increased 0.09 percent in the first half of 2010, year on year.
People's income: From 2006 to 2009, the yearly per capita disposable income for urban residents was 11,759 yuan (about $1,729), 13,786 yuan, 15,781 yuan, and 17,175 yuan, respectively; while yearly per capita net income for rural residents was 3,587 yuan, 4,140 yuan, 4,761 yuan, and 5,153 yuan, respectively. Income growth for urban residents outpaced that for those living in rural areas.
Higher education: 1.1 million postgraduates were enrolled in universities or research institutions and 17.39 million undergraduates were studying in universities or secondary technical schools in 2006 while in 2009, the numbers were 1.41 million and 21.45 million, respectively.
This year is also the year for discussions of the 12th Five-Year Plan, which experts believe will stress restructuring, industrial upgrading, emissions reductions and energy savings.
Restructuring: the Chinese government set an average annual 7.5-percent GDP growth for the 11th Five-Year-Plan period. However, experts expect the government might lower the GDP growth target for more "qualitative" growth amid restructuring, and boosting domestic demand will be the top priority for China to restructure its economy in the 12th Five-Year-Plan Period. As consumption among Chinese residents remains low, there is still great room for growth, and the key of boosting consumption capacity is to increase household incomes, according to experts.
Industrial upgrading: the majority of China's manufacturing firms are still focusing on low-end products, such as living goods and raw materials. Experts expect the new five-year plan will stress development of high-end manufacturing industries, such as manufacturing wind farm equipment, nuclear power equipment, metallurgical equipment, and environmental protection devices.
Auto industry: China overtook the United States to become the world's largest auto market in 2009, with car sales in China totaling 13.64 million units last year, up 46.2 percent year-on-year. However, compared with auto industries in developed countries, China's national auto brands still have some gaps in terms of product quality, technologies, global strategies, marketing, and after-sale services. Experts believe the government will further encourage domestic car makers to strengthen their capabilities for research and development and technological innovation.
Energy: an official with the National Development and Reform Commission, China's top economic planning body, said the country might again set a 20-percent reduction of energy consumption relative to economic output during the 12th Five-Year Plan (2011-15), which is in line with China's commitment to reduce its greenhouse gas emissions by 40-45 percent per unit of GDP by 2020 compared to the 2005 level. China also aims to increase the proportion of non-fossil fuel use to 15 percent in overall energy use by 2020.
(Xinhua News Agency October 14, 2010)