The Chinese government has put forward its five-year economic plan. Details were outlined at the opening of the National People’s Congress, the
ADVERTISEMENTThe Chinese government has put forward its five-year economic plan. Details were outlined at the opening of the National People’s Congress, the country’s parliament.
Growth of at least 6.5 percent, job creation and restructuring inefficient industries are to be the Communist administration’s main priorities.
While 6.5 percent would represent significant growth for many countries, for the world’s number two economy it would be the slowest growth in at least 25 years.
Also set to go up is the population. Already the biggest in the world, it is projected to increase by 45 million people by 2020, that’s almost the size of Spain’s entire population.
Within the same period, at least 50 million new jobs in cities are planned.
The announcement came days after the government highlighted major job losses in key production industries, such as coal and steel.
Ahead of the opening of parliament, a video in which President Xi Jinping’s policies are rapped, and sung by a choir, went viral. It’s hoped the clip, which was put together by the state news agency, will reach out to Chinese millennials and foreign audiences.