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Five-year development plan endorsed by NPC committee

Updated: Mar 10,2016 7:45 AM     Xinhua

The draft outline of the 13th Five-Year Plan on national economy and social development was endorsed by the National People’s Congress (NPC) Financial and Economic Committee (FEC) at a meeting on March 9.

The draft has been examined by NPC deputies as well as the FEC and related committees since it was submitted on March 5 to the NPC annual session.

The draft outline for the years between 2016 and 2020 is well versed and feasible, said the FEC, advising it to be passed.

The committee’s review report will be submitted to the NPC session if the presidium approves the submission.

The committee also endorsed the reports on the drafts of the 2016 national economy and social development plan and the 2016 central and local budgets.

The FEC advised the lawmakers to approve the development plan, while asking the State Council to actively push forward supply-side structural reform, substantively increase support for the real economy, accelerate transformation of agricultural development, greatly enhance resources saving and ecological and environmental protection, further improve social welfare and people’s livelihood, and effectively prevent risks.

The committee also supported approval of the NPC deputies for the budgets plan, requiring the State Council to employ an active fiscal policy, vigorously contribute to fiscal and taxation reform and legislation, improve cost benefit of fiscal expenditure, prevent government debt risks, standardize budget management, and tighten audit and supervision.