Latest News:  
Beijing   Sunny/Cloudy    16 / 6 ℃  City Forecast

English>>Foreign Affairs

China's 2020 blueprint to ripple through world

By Cheng Yunjie and Wang Zichen (Xinhua)

08:40, November 12, 2012

BEIJING, Nov. 11 (Xinhua) -- After the Communist Party of China (CPC) fleshed out the national goal of building a moderately prosperous society, questions of how the country will fare in 2020 and the impact on the world are very intriguing.

Optimists envisage higher productivity and efficiency and broader democracy. Pessimists warn of domestic social ills which might take a serious toll on the world's second largest economy. Others, with reserved confidence, stay skeptical.

Whatever kind of development trajectory China takes during the coming eight years, the ongoing national congress of the Party, with a new leadership to be installed next week, is a noteworthy event for its potential to change China and the world.


With the country's urbanization rate slightly exceeding 50 percent in 2011 compared with 39.1 percent in 2002, Chinese cities will see a constant influx of rural migrants in the next decade. This will generate demand for infrastructure and public utilities.

China's growing appetite for energy and raw materials is expected to give a kick to the world's sluggish bulk commodity market. Currently, China is the world's biggest consumer of aluminum, cooper, iron ore and cotton.

Ungad Chadda, senior vice president of Toronto Stock Exchange, a world leader in mining and energy financing, takes China's 2020 blueprint as good news and is fascinated at the buildup of infrastructure under Chinese leaders.

Other market-moving elements relating to China's 2020 goal, Chadda said, include the emerging middle class and Chinese people's growing consumption power.

Morgan Stanley China has projected a golden decade for China's consumption. By 2020, the country's total retail sales will be equivalent to two-thirds of that of the United States and will account up 12 percent of the world's aggregate, it said.

For many Chinese people, the global market is no longer a vague concept.

Ge Haoxin, a delegate to the Party congress from Fuyang City in east China's Anhui Province, believes that his seed-breeding business can contribute to the stabilization of the world farm produce market.

Following bumper harvests for eight consecutive years, China has witnessed an unusual spike in grain imports this year, triggering market speculation on its growing dependence on the world market.

【1】 【2】 【3】 【4】

Video: Opening ceremony of 18th CPC National Congress Hu Jintao delivers report to CPC congress 'Beautiful scenery' at 18th CPC National Congress
18th CPC National Congress: A crucial event for China China Voice: As U.S. elections wind down, so might China-bashing China says "no concessions" on sovereignty issue


Related Reading

Leave your comment0 comments

  1. Name


Selections for you

  1. Weekly review of military photos

  2. Chinese navy conducts joint exercise

  3. Most expensive diamonds in the world

  4. Shanxi's grain production to hit record high

  5. Heavy snowfall hits N China's Hohhot

  6. October export growth accelerates, imports steady

  7. Shanghai Int'l Puppet Festival opens

  8. Subway Sex Crimes—Who’s at Fault?

Most Popular


  1. Growth of for-profit hospitals should be limited
  2. Mahjong: to protect or to crack down?
  3. Commertary: Finding a dynamic balance
  4. Central bank to use more open-market operation
  5. Commentary: Have confidence in China
  6. Chicagoans await election with mixed feelings
  7. Confident beginning paves way for happy marriage
  8. How many 'Anna Kareninas' lost in marriage
  9. 'Summer Palace' not labeled as speculations
  10. Govt still needs hand in rare earths

What’s happening in China

Heavy snowfall hits N China's Hohhot

  1. More blizzards expected in NE China
  2. China Exclusive: Life under cold snap
  3. Property policy leads to divorce boom in SW China
  4. Shanxi's grain production to hit record high
  5. Mixed joy club