The Central Committee of the Communist Party of China’s Proposal on Formulating the Fourteenth Five-year Plan for National Economic and Social Development and the Long-term Target for the Year 2035 (hereinafter referred to as the Proposal) adopted by the Fifth Plenary Session of the 19th CPC Central Committee is a programmatic document for China to March towards the goal of the second century, in which there are many implications for modern economies, from "construction" to "accelerated construction" to "completion", which has drawn a grand blueprint and provided a fundamental basis for high-quality economic development.
Building a modern economic system is the strategic goal of development in the new era.
Building a modern economic system was put forward by the Supreme Leader General Secretary in the report of the 19th National Congress of the Communist Party of China. The modern economic system is "an organic whole composed of the interrelations and internal relations of all links, levels and fields of social and economic activities". The goal of building a modern economic system includes seven aspects, which can be summarized as "6+1" system, namely, building an industrial system, a market system, an income distribution system, an urban and rural regional development system, a green development system, an all-round opening system, and building an economic system that gives full play to the role of the market and better plays the role of the government. According to the report of the 19th National Congress of the Communist Party of China, China’s economy has changed from a high-speed growth stage to a high-quality development stage, and it is in the key period of changing the development mode, optimizing the economic structure and transforming the growth momentum. Building a modern economic system is an urgent requirement for crossing the barrier and a strategic goal for China’s development. General Secretary of the Supreme Leader pointed out in the third collective study in 19th the Political Bureau of the Central Committee that only by forming a modern economic system can we better conform to the trend of modernization and win the initiative of international competition, and also provide strong support for modernization in other fields.
The top-level design of the CPC Central Committee has pointed out the direction for building a modern economic system, and local party committees and governments at all levels have achieved remarkable results around the five major tasks in accordance with the deployment of the CPC Central Committee.
First, vigorously develop the real economy. The real economy is the lifeblood of our economy. The report of the 19th National Congress of the Communist Party of China put forward that "efforts should be made to accelerate the construction of an industrial system with the coordinated development of the real economy, scientific and technological innovation, modern finance and human resources". China has built a comprehensive, independent and complete modern industrial system. From 2016 to 2019, the added value of China’s industry increased from 24.54 trillion yuan to 31.71 trillion yuan, with an average annual growth rate of 5.9%, much higher than the average annual growth rate of 2.9% of the world industry in the same period. The driving effect of scientific and technological innovation on the real economy has increased. The number of invention patent applications and authorizations nationwide has increased from 1.339 million and 404,000 in 2016 to 1.401 million and 453,000 in 2019, respectively. The role of modern finance in safeguarding the real economy has increased. At the end of 2019, the balance of RMB loans issued to the real economy was 151.6 trillion yuan, a year-on-year increase of 12.5%; In the first five months of 2020, China’s manufacturing industry added 1.4 trillion yuan of new loans, up 10.1% year-on-year, the fastest growth rate since 2014. The supporting role of human resources in the real economy has increased. In 2020, the college entrance examination has undergone major reforms, and some colleges and universities have carried out pilot enrollment reforms in basic disciplines, and selected and trained professionals who are interested in serving the country’s major strategic needs around basic disciplines such as mathematics, physics, chemistry and biology, and began to fill the shortcomings of basic research.
The second is to accelerate the implementation of the innovation-driven development strategy. China regards innovation as the first driving force to lead development and constantly strengthens the strategic support of the modern economic system. Mass entrepreneurship and innovation have been carried out in depth. In 2019, the number of enterprises will increase by more than 10,000 per day. Emerging industries continued to grow, and traditional industries accelerated to upgrade. The new kinetic energy index of China’s economic development increased from 159.1 in 2016 to 332.0 in 2019; Give full play to the role of the main body of enterprise innovation. In 2019, the research and experimental development expenditure of high-tech manufacturing industry was 380.40 billion yuan, and the investment intensity was 2.41%, an increase of 0.14 percentage points over the previous year; High-tech products accounted for 28.3% of the total merchandise exports.
Third, actively promote the coordinated development of urban and rural areas. China is committed to promoting regional coordinated development and constantly optimizing the spatial layout of the modern economic system. The coordinated development of Beijing-Tianjin-Hebei, the development of the Yangtze River Economic Belt and the construction of Guangdong-Hong Kong-Macao Greater Bay Area have become national development strategies, and top-level designs such as development planning have been completed and are being implemented; The northeast revitalization strategy and the western development strategy have completed a new round of planning and vigorously promoted the requirements of high-quality development in the new era; The Yangtze River Delta, Pearl River Delta, Beijing-Tianjin-Hebei and other urban agglomeration development factors have optimized the spatial structure of China’s economic development; The function of Beijing’s non-capital has been orderly dissolved, and the regional integration development of the Yangtze River Delta has pressed the "acceleration button"; The rural revitalization strategy has been solidly promoted, and the institutional framework and policy system have basically taken shape; The gap between urban and rural areas has gradually narrowed. In 2019, the ratio of per capita disposable income of urban residents and rural residents was 2.64, which was 0.09 lower than that in 2015.
The fourth is to promote all-round opening up. China vigorously promotes high-level opening to the outside world and constantly improves the international competitiveness of the modern economic system. The two international cooperation summit forums have promoted the high-quality development of the "Belt and Road", and China’s circle of friends is growing; The concept of "building a community of human destiny" was written into UN Resolution 2344, which contributed to the China program for global governance. The official opening of the Beidou-3 global satellite navigation system has opened a new chapter in serving the world with high quality and benefiting mankind.
The fifth is to deepen the reform of the economic system. China gives full play to the decisive role of the market in resource allocation, better plays the role of the government, and constantly improves the institutional guarantee of the modern economic system. The Fourth Plenary Session of the 19th CPC Central Committee took distribution according to work as the main body, the coexistence of various modes of distribution and the rise of the socialist market economic system into a basic socialist economic system, which was conducive to the integration of various resource advantages and provided a strong guarantee and support for high-quality economy. Identifying data as production factors to participate in income distribution has created a good institutional environment for the industrialization of big data and formed a strong driving force for the development of productivity; Continue to promote tax reduction and fee reduction, especially the 2 trillion yuan tax reduction and fee reduction plan launched in 2019, which significantly reduced the operating costs of enterprises, effectively stimulated domestic demand and promoted the further expansion of consumption.
The new journey continues to build a modern economic system
"As long as the road is right, you are not afraid of being far away." The Proposal emphasizes "accelerating the construction of a modern economic system" during the Tenth Five-Year Plan period, which is a scientific deployment based on in-depth analysis of the profound and complex changes facing China’s development environment. During the "Thirteenth Five-Year Plan" period, China’s economic and social development has achieved all-round and groundbreaking historical achievements, laying a solid foundation for starting a new journey of building a socialist modern country in an all-round way, which will certainly transform the potential energy of economic development into kinetic energy and help the construction of a modern economic system. We should profoundly understand and grasp the spirit of the Fifth Plenary Session of the 19th CPC Central Committee, adhere to the general tone of striving for progress while maintaining stability, concentrate on construction, wholeheartedly seek development, focus on accelerating the construction of a modern economic system, and make a good start for building a socialist modern country in an all-round way.
The "Proposal" has carefully deployed the "6+1" system of building industrial system, market system, income distribution system, urban and rural regional development system, green development system, and all-round opening system, and building an economic system that gives full play to the role of the market and better plays the role of the government, providing fundamental guidance for accelerating the construction of a modern economic system in the new journey. Specifically, it includes: insisting on the core position of innovation in the overall situation of China’s modernization, insisting on focusing on the real economy and accelerating the development of modern industrial system; Adhere to and improve the basic socialist economic system, adhere to the strategic starting point of expanding domestic demand, smooth the domestic circulation, promote the domestic and international double circulation, and build a high-standard market system; Adhere to the realization, maintenance and development of the fundamental interests of the overwhelming majority of the people as the starting point and end result of development, increase the proportion of labor remuneration in the initial distribution, focus on improving the income of low-income groups and expanding middle-income groups; Optimize the spatial layout of the country, promote regional coordinated development and new urbanization, persist in solving the "three rural issues" as the top priority of the whole party’s work, and fully implement the rural revitalization strategy; Adhere to the Lucid waters and lush mountains are invaluable assets concept, promote green development and promote the harmonious coexistence between man and nature; Open wider, wider and deeper to the outside world, promote international cooperation and achieve mutual benefit and win-win; Adhere to and improve the basic socialist economic system, comprehensively deepen reform, and build a high-level socialist market economic system.
From 1953 to now, among the 14 five-year plans, only the Ninth Five-Year Plan and the Fourteenth Five-Year Plan have embedded long-term goals. Different from the Ninth Five-Year Plan, this year’s Fourteenth Five-Year Plan and the long-term goal in 2035 have a longer time to look forward, which better embodies the spirit of "hammering nails one after another and drawing a blueprint to the end". At present, the epidemic in COVID-19 has a far-reaching impact and the world situation is complicated. The more so, the more you have to calm down and do your own thing well. Development is the basis and key to solve all problems in our country. Basically realize socialist modernization by 2035, which naturally includes the modernization of the economic system. The Proposal outlines the long-term goal of basically realizing socialist modernization in 2035 from nine aspects, including "basically realizing new industrialization, informationization, urbanization and agricultural modernization, and building a modern economic system". The setting of this long-term goal well embodies the unity of problem-oriented and goal-oriented The problem orientation enhances the pertinence and the goal orientation enhances the guidance. The unity of the two embodies the high combination of operability and strategy, and ensures that the road to modern economic system construction is deep and practical.
(The author is a researcher at the Party School Base of Tianjin Socialism with Chinese characteristics Theoretical System Research Center)
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