The Communist Party of China's Political Bureau recently met to outline the 13th five-year plan. (Photo : Reuters)
China's top officials announced during a Monday meeting that the nation will eye maintaining its "medium-high growth rate."
The members of the Political Bureau of the Communist Party of China Central Committee recently met to discuss and outline the 13th Five-Year Plan of National Development, covering years 2016 until 2020.
In an official statement, the bureau said that China intends a development roadmap with a "higher quality, efficiency, equality and sustainability."
"The five years from 2016 are a critical stage for building a moderately prosperous society in all aspects. The 13th Five-Year Development Plan will focus on realizing this goal," the statement added.
Moreover, it stated that the country is now "entering a new normal of economic development and facing not only great strategic opportunities but complicated and tough challenges."
New normal means a slower but a more sustainable economic growth.
For the first two quarters of 2015, China posted a 7-percent growth consecutively. The statistic is higher than what experts predicted.
The statement noted that the nation will continue reforming and transforming government functions. It will also carry on enhancing the rule of law and deepening its liberation measures, adding that the Party will discipline itself more tightly to upgrade its governing capacity.
For Liu Jipeng, China University of Political Science and Law's Capital Research Center director, focusing on the economy is strategically significant for the country's top officials, especially at a time when they had triumphed over corruption through its anti-corruption drive.
The official statement also announced that the Political Bureau will have its fifth plenary session in Beijing in October.
