12TH FYP REPORT PDF

China's Five-Year Plans FYP are blueprints providing overall objectives and goals related to social and economic growth and industrial planning in key sectors and regions. Compared to previous FYPs, the 12th FYP focuses more on the quality, rather than the rate of growth, as well as ensuring more Chinese citizens benefit from that growth. The 12th FYP has key themes of rebalancing the economy, ameliorating social inequality and protecting the environment. Some important initiatives of the economic rebalancing theme in the 12th FYP include a notional GDP growth rate target of 7 percent, promoting consumption over investments and exports, closing the income gap through minimum wage hikes and increased social safety nets, and a range of energy efficiency targets.

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China's Five-Year Plans FYP are blueprints providing overall objectives and goals related to social and economic growth and industrial planning in key sectors and regions. Compared to previous FYPs, the 12th FYP focuses more on the quality, rather than the rate of growth, as well as ensuring more Chinese citizens benefit from that growth. The 12th FYP has key themes of rebalancing the economy, ameliorating social inequality and protecting the environment.

Some important initiatives of the economic rebalancing theme in the 12th FYP include a notional GDP growth rate target of 7 percent, promoting consumption over investments and exports, closing the income gap through minimum wage hikes and increased social safety nets, and a range of energy efficiency targets. The seven industries are biotechnology, new energy, high-end equipment manufacturing, energy conservation and environmental protection, clean-energy vehicles, new materials, and next-generation IT.

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The 12th Five-Year Plan for Economic and Social Development of the People's Republic of China

The new targets, signed off by the NPC and the State Party earlier this month, intend to lower energy intensity by a further 16 percent over the next five years. A few days after the 12th FYP was approved, a new circular on renewable energy architecture was already issued with specific targets to increase renewable energy constructions and to strengthen quality control in this area. According to reports, a projected RMB3. Although traditionally it had been relatively difficult for foreign investors to get involved in the renewable energy market, it is possible that new avenues could be opening up in this sector as China pushes forward with the new environmentally-friendly FYP. In order to restructure and upgrade Chinese industries with the new targets in mind, authorities have recognized that there is a need for foreign input in terms of new investment and technologies in these areas.

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12th Five Year Plan Hailed as ‘Greenest FYP in China’s History’

With the deteriorating global situation, the Deputy Chairman of the Planning Commission Mr Montek Singh Ahluwalia has said that achieving an average growth rate of 9 per cent in the next five years is not possible. I think somewhere between 8 and 8. The approached paper for the 12th Plan, approved last year, talked about an annual average growth rate of 9 per cent. If you don't do that, there is no God given right to grow at 8 per cent. I think given that the world economy deteriorated very sharply over the last year He also indicated that soon he would share his views with other members of the Commission to choose a final number economic growth target to put before the country's NDC for its approval.

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