BEIJING -- China's lawmakers on Friday started reviewing a national blueprint featuring high-quality development, technological innovation and a greener future for the country that has long been seeking modernity and national rejuvenation. The draft outline of the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035, which specifies the main goals and tasks for the world's second-largest economy in its march toward modernization, was submitted to the fourth session of the 13th National People's Congress (NPC), the top legislature. The long-range objectives are unveiled as China embarks on a journey toward its second centenary goal of "building a modern socialist country that is prosperous, strong, democratic, culturally advanced and harmonious." "China will basically achieve socialist modernization by 2035," according to the draft outline, dubbed an action plan for the whole nation. The blueprint … [Read more...] about Revival-seeking China unveils action plan for modernization
China’s government on Friday announced a 6% growth target for 2021 and unveiled a five-year plan and vision for 2035 that aims to expand China’s global footprint as a major technology power. The plans, unveiled at the start of the annual week-long convening of the Communist Party-controlled legislature, the National People’s Congress (NPC), outlined a push for China to consolidate the positions of its supply chains in key strategic industries, amid a push from some countries towards decoupling, and to significantly increase China’s spending on research and development (R&D) to achieve self-reliance in key high-tech sectors. Chinese Premier and second-ranked leader Li Keqiang presented the draft government work report for the year and the draft outlines of the 14th Five-Year Plan (2021-2025) and long-range objectives for 2035 to the NPC, which will approve the documents over the next week. The NPC is also expected to approve a major overhaul of Hong Kong’s electoral system that … [Read more...] about China targets 6% growth, five-year plan for tech supremacy
The Hanoitimes - Revising down the growth target is not the right mindset at the moment, said Prime Minister Nguyen Xuan Phuc. Vietnam remains steadfast in determination to reach the GDP growth target of 6.8% for 2020 although the ongoing outbreak of the new coronavirus (nCoV) is having a direct impact on the economy, according to Prime Minister Nguyen Xuan Phuc. Overview of the meeting. Source: VGP. Strong measures, including the restructuring of economic sectors, are needed to prevent a slowdown in economic growth, said Phuc at a monthly government meeting on February 5, adding adjusting the growth target is not the right mindset at the moment. In the first quarter, the country’s GDP growth could slow by one percentage point, while adversities surrounding the Chinese economy would continue to impact Vietnam, Phuc asserted. Regarding this issue, Minister of Planning and Investment Nguyen Chi Dung said the epidemic is expected to directly hit Vietnam's … [Read more...] about Vietnam remains steadfast in 2020 GDP growth target of 6.8% despite nCoV: PM
"We aim to have CO2 emissions peak before 2030 and achieve carbon neutrality before 2060," China's President Xi Jinping told the UN General Assembly in September. "COVID-19 reminds us that humankind should launch a green revolution," he added. Given that global emissions are still rising — despite the pandemic-related slowdown — and in view of the inadequacy of the Paris climate pledges, China's announcement was widely welcomed as the most important commitment since the 2015 Paris agreement in the push to carbon neutrality by mid-century. "It's like steroids in the move to decarbonization," said Niklas Hagelberg, coordinator of the Climate Change Program at the United Nations Environment Program, of the pledge from the world's largest carbon emitter. With China accounting for 28% of global CO2 emissions, its carbon neutral pledge is fundamental to achieving worldwide net-zero emissions. Even without any further commitments from other countries, global heating could now be … [Read more...] about Is China’s five year plan a decarbonization blueprint?
The Hanoitimes - The upward trend in economic growth would continue to 2022 as the country’s economic growth may reach 7.2%. Vietnam’s GDP growth is projected to strengthen to 6.5% as normalization of economic activity continues, businesses recover, and private consumption and business investment rebound. Vietnam's major economic indicators. Source: IMF The assessment was given by the International Monetary Fund (IMF) in its 2020 Article IV Consultation report with Vietnam, expecting the upward trend in economic growth would continue to 2022 as the country’s economic growth may reach 7.2%. “Manufacturing and retail sales are expected to lead the recovery, while the travel and hospitality services will remain subdued,” noted the report, but saying net exports will continue making positive contribution to growth as external demand picks up. Looking back in 2020, Vietnam began the year following a prolonged period of high growth. The last three decades of … [Read more...] about Vietnam GDP growth projected to strengthen to 6.5% in 2021: IMF