A component of the major economic plan unveiled by the Communist Party of China (CPC) includes making cities more livable, adjusting the size of cities and improving urban infrastructure. (Photo : www.echinacities.com)
The Communist Party of China (CPC) presented on Monday, Dec. 14, its major economic tasks for 2016, the first year of the country's 13th Five-Year Plan, the Xinhua News Agency reported.
A statement released after a meeting of the Political Bureau of the CPC Central Committee, which was presided over by President Xi Jinping, said that more migrant rural workers should be issued urban-residency permits to reduce housing inventories, and to allow them to purchase housing in cities.
According to the report, China should also increase the urbanization ratio based on the number of registered urban residents. At the end of 2014, the ratio of registered urban residents to the total population was 35.9 percent. A plan was set to increase the target to 45 percent by 2020.
The statement said that the government will work to make cities more livable, adjust the size of cities, improve urban infrastructure and protect historical and cultural heritage.
In the coming year, the country will continue to promote mass entrepreneurship and innovation by getting off the financial strain for companies. These include measures for reductions to transaction costs, taxes and social insurance fees.
The government will also encourage mergers, reorganization and bankruptcy filing to improve the overall business environment.
"China should prevent and resolve financial risks and defend the bottom line to eliminate systemic and regional financial risks," the statement said.
The CPC added that it will continue to prioritize the streamlining of administrative processes, delegation of power, reform of state-owned firms, taxation, finance and social security.
The Party also urged to ensure a basic living standard for the people, while the protection of intellectual property rights and the interests of foreign companies will help industrial cooperation with other countries and improve the domestic investment environment.
In 2016, China should continue to keep economic growth at a proper range. In the first three quarters of 2015, China's economy expanded by 6.9 percent, generally in line with the government's target of around 7 percent.
"While improving domestic demand, the country should raise the quality and efficiency on the supply side," the statement said.
In addition, the government will give more attention to raise effective investment, nurture new growth engines and strengthen the competitiveness of traditional sectors.
The CPC Central Committee also held a meeting on Thursday, Dec. 10, to gather opinions on the proposed economic work from non-CPC personnel, the statement said.
Xi said during the meeting that China's economic and social development, especially structural reform, would be challenging next year.
The Chinese leader said that the country should continue to reform and open up, as well as maintain the general guideline of "seeking progress while maintaining stability and promoting the improvement of productivity."
