China 2011-2015 - Another grand banquet for the world?
The 12th Five-Year Plan will lead the Chinese economy from quantity to quality. And has a lot to offer foreign companies.
China's five-year plan cycle plays a central role in the country's socio-economic development programs. It identifies and orchestrates major national construction projects, specifies the allocation of productive resources and the contributions of individual sectors to the overall plan, maps China's economic direction and sets targets.
The new plan specifies seven industries for particular development attention:
- Energy conservation and environmental protection
- New generation information technology (IT)
- Advanced equipment manufacturing
- New energy
- New materials
- New energy vehicles
The plan is to increase their added value from a current 2% of GDP to 8% by the end of 2015. The industries will serve as new growth markets, create more jobs, boost global competitiveness and ensure China's economy is aligned with the emerging technological trends.