The 5th Plenary Session of the CPPCC has grabbed the world’s attention. The Economist says China is looking for new sources of growth as industrialisation peaks. The 13th Five-Year plan will also emphasise environment protection and poverty reduction. GDP growth will be the main news.
Japanese magazine The Diplomat says the steps that China will outline will be incredibly important...and the Party would encourage a shift away towards a consumption-led model. And, the Fifth Plenum will be the starting point for this.
Singaporean newspaper Today says that China is set to take world-shaping decisions this week. The newspaper adds that China is in a major transformation into a “lean, clean, and green” economy.
German newspaper Handelsblatt says the west realizes that the Five Year plan will pave the roadmap for China’s future development. For years, the Chinese government has embraced a market economy and has changed the lives of about 1.4 billion people. The plan will not only decide China’s direction of economic development, but will also affect the global economy.