NEWSLETTER Issue III of 2015
2015/10/29

Highlights of China's CPC Key Meeting

Communique

The 18th Communist Party of China (CPC) Central Committee concluded its 4-day Fifth Plenary Session on October 29 with a communique. Here are the highlights of the communique.

POPULATION POLICY:

-- China will allow all couples to have two children, abandoning its decades-long one-child policy.

ECONOMY:

-- China targets "medium-high economic growth" for the next five years starting 2016.

-- China will aim to double its 2010 GDP and per-capita income of both urban and rural residents by 2020 by ensuring more balanced, inclusive and sustainable development.

-- China will try to overhaul state assets management, establish modern fiscal and taxation systems, and reform financial supervision.

-- The government will intervene less in price formation.

-- Innovation will be put at core position for China's development in the next five years.

-- China will significantly raise the contribution of consumption to economic growth from 2016 to 2020.

FOREIGN INVESTMENT:

-- China will attract more foreign investors by being clearer on the rules that apply to them.

-- China will adopt the "negative list" model nationwide which clearly states sectors and businesses that are off limits to foreign investment.

SOCIAL WELFARE:

-- China will extend old-age insurance to its full population.

PERSONEL CHANGE:

-- The meeting endorses prior decisions to revoke the membership of 10 former officials, including Ling Jihua.

-- Three new members fill vacancies of the Central Committee of the CPC after former members were expelled from the Party.

 

Embassy of People's Republic of China

Address: 3505 International Place NW,

Washington DC, 20008

Email: chineseembassyspokesperson@gmail.com

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