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Development Prospects

2017-02-10  click:

Major Economic and Social Development Indicators of Fujian’s 13th Five-Year Plan (2016-2020)

The 13th Five-Year Plan period is the decisive time zone to bring about a moderately prosperous society in all respects as well as the crucial time to deepen the reform in a comprehensive way. According to the 13th Five-Year Plan for Economic and Social Development of Fujian Province, we will as always seek fast but stable economic growth. Focus will be put on enhancing quality and efficiency of development through economic transformation and upgrading. We will step up efforts to bring into place the systems, mechanisms and growth model that will guide the new normal in economic development. We will strive to push its economic and social development to a new height, and make every effort to build Fujian into a province featuring flexible mechanisms, competitive industries, a prosperous life and beautiful environment.

The overall objective is to bring about a moderately prosperous society in all respects by the year of 2020, with the economic and social development achieving a new high.

We will enhance the provincial overall strength significantly. The economy will maintain steady growth, faster than the national average. With an annual growth of 8.5%, Fujian has doubled its 2010 GDP ahead of schedule. The general budget revenue topped RMB 580 billion, with local budget revenue exceeding RMB 330 billion. Investment in fixed asset and the total retail sales of consumer goods grow 15% and 11% annually respectively. Major economic indicators are balanced and coordinated, while investment efficiency and corporate profit increase a lot. The development of combining industrialization with information application has been elevated to a higher level. And the efforts to develop high-end industries and cluster of industries gain more momentum, as advanced manufacturing develops faster, and new industries and businesses keep growing. The service sector accounts for a larger share in the economy.

Urban and rural development will become more balanced. The new-type urbanization improves the development layout. The expedited urban integration of Fuzhou area and Xiamen-Quanzhou-Zhangzhou area stimulates synchronized development of neighboring regions. More efforts will be devoted to developing small-and-medium cities and towns with local features. Coordination and collaboration between different regions deliver tangible benefits. Less developed areas grow faster than ever before. Endogenous dynamics driving rural development is strengthened. Integrated urban and rural development reaches a new high. The urbanization rate of registered population and resident population stands at 48% and 67% respectively.

We will make great progress in our reform and opening up drive. Breakthroughs are achieved in the reform of key areas and crucial link. Some areas will be the pacesetters or test fields of reform in China. The level of the open economy will be further elevated. Both quantity and quality of utilized FDI, outbound investment, and import & export trade keep increasing, with annual paid-in FDI reaching USD 7.5 billion and export growing by 2% every year. The development of the core area of the 21st Century Maritime Silk Road and China (Fujian) Pilot Free Trade Zone yield fruitful results. Various cooperation and people-to-people exchange between Fujian and Taiwan become even closer. Cooperation platforms including Pingtan Comprehensive Pilot Zone play a more prominent role.

Innovation and entrepreneurship will be more invigorated. Innovation becomes a fashion, and we will develop the systemic and social environment adaptable to innovation-driven development. The growth of high-tech industry accounts for 16% of the provincial GDP; expenditure on research and experiment takes up more than 2% of the GDP; and the ownership of patents for inventions is 7.5 per 10,000 people. As scientific and technological progress makes greater contribution to development, Fujian will become an innovation-oriented province.

The environmental conditions will keep improving. As the Demonstration Zone for Promoting Sound Ecological Progress, the province has greener production mode and life-style with less carbon emission. We will reduce the total amount and lessen the intensity in energy and water consumption and construction land. The reduction of CO2 emissions per unit of GDP and main pollutant emissions will be kept within the national standards. The forest coverage rate remains top in China. Water, air and ecological conditions here are all in great quality. We will realize more sustainable development as ecological conservation is institutionalized.

People will live a better life. Income of both urban and rural residents grows by 8% year on year, twice as much as that of 2010 ahead of schedule. By 2018, all residents in the province will get rid of poverty based on the current national standard; and by 2020, all residents will live above the provincial poverty threshold. We will build a better public services system and continue to improve it, covering areas of employment, education, culture, social security, medical care, housing and so on. People will have stronger sense of citizenship and help build a better society. Cultural industry will become a backbone one in the economy. We will be able to better safeguard people’s rights and interests as progress is made in building the province into a safer place with law-based governance and integrity.

Targets for Economic and Social Development in 2017

The year of 2017 marks a crucial period to implement the “13th Five-Year Plan” and to deepen the supply-side reform. We set the targets that GDP grows by 8.5%; fixed asset investment increases by 15%; and social consumption rises by 10.5%. We will accelerate innovation-driven development and industrial transformation and upgrading. We will move faster in the development of new economy and new growth potential, and advanced manufacturing and modern services sector. We will speed up the new type of urbanization to better coordinate regional development between urban and rural areas. We will continue to build the National Ecological Conservation Pilot Zone and meet the targets for energy conservation, emission reduction and carbon emission decrease. We will further narrow the income gap between urban and rural residents, and keep CPI growing at the rate of around 3%.