Europe in decline?
The Nobel Prize winning Columbia University economist Edward Phelps maintains that innovation is the key to economic growth, prosperity and human happiness.
The 19th Central Committee of the Communist Party of China (CPC) started its fifth plenary session in Beijing on Monday.
President Xi Jinping, also General Secretary of the CPC Central Committee, delivered a work report on behalf of the Political Bureau of the CPC Central Committee and explained a draft document of the CPC Central Committee’s proposals for formulating the 14th Five-Year (2021-2025) Plan (FYP) for Economic and Social Development and future targets for 2035, the CGTN news network said in a report.
The session will conclude on Thursday.
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Drawn up every five years since 1953, the FYP is a major feature of China’s governance system, setting growth targets and defining economic and social development policies to ensure national strategies keep pace with the times.
This year is the final year of China’s 13th FYP period (2016-2020).
At a meeting of the Standing Committee of the Political Bureau of the CPC Central Committee last week, Xi said the implementation of the 13th FYP has been smooth, as the key strategic tasks and 165 major projects have all been carried out, the major indicators will be achieved as scheduled, and all targets and tasks set in the plan will be accomplished.
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