Government and Policy

New development blueprint in world spotlight

(Xinhua)
Updated: 2010-10-19 21:27

BEIJING - The just-concluded Fifth Plenum of the 17th Communist Party of China (CPC) Central Committee, which examined and approved proposals for formulating the development plan for the next five years (2011-2015), has garnered the world's attention because of the plan's global implications.

Special Coverage: CPC Central Committee holds 5th plenum Related readings:  CPC sees next 5 years as critical for national prosperity  CPC to promote peaceful development of cross-Strait ties  Proposals for next 5-yr development plan approved  China vows 'active participation' in int'l economic governance

The economic and social development agenda of a single country rarely raises broad concern among the international community, but China, whose development is closely related to the rest of the world, is one of the few exceptions.

In the eyes of the world media, the five-year development blueprint with Chinese characteristics is a weather vane indicating the direction of China's future development.

Many world media have reported that, in the first decade of the 21st century, that is, the period of China's 10th (2001-2005) and 11th (2006-2010) five-year plans, China's economic strength has grown remarkably.

The international community is therefore closely following what China is scheduled to achieve in the coming five or 10 years.

First and foremost the world media want to interpret China's economic development outlook from the country's 12th five-year plan.

Many foreign news wires have taken note of China's goal of consolidating the basis of building a well-off society, of boosting domestic demand, and of transforming China's economic development pattern.

In a Reuters report, the article talked about China's commitment to lifting the incomes and spending power of hundreds of millions of farmers and workers.

Such intensive global attention implies that China's development has a big influence on the world economy as a whole.

For years, a dynamic Chinese economy has brought the world a lot of opportunities.

Since China joined the World Trade Organization in 2001, it has imported $687 billion worth of commodities from other countries yearly on average and has helped create nearly 14 million jobs in others countries and regions.

In 2008, when the global financial crisis was at its worst, China alone contributed to more than 20 percent of the world's economic growth and 9 percent of the global trade increase that year.

Another reason the world is closely watching China's blueprint for the near future is that there are plenty of opportunities in it. China's huge market and stable economic growth indicate robust domestic demand, which, in turn, will bring great export opportunities to its trading partners and inject more vitality into the global economy.

Some foreign media have already pointed out that the blueprint's goal to transform China's economic development pattern will provide the world's big enterprises and multi-national companies with new opportunities.

The Financial Times newspaper said in a recent article that one of the most significant aspects of China's new development agenda would be more emphasis on energy efficiency and carbon emissions reduction.

China's progress in developing alternative energies such as solar, wind and nuclear power will have a profound effect on those industries, it said.

With the implementation of the new blueprint, China's development will certainly be conducive to the world's peace and development and will bring the international community more benefits and opportunities.