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China Announces Plan for Industrial Development in Five Years
China has mapped out a plan for the overall development of the industrial sector in the next five years, sources from the State Economic and Trade Commission (SETC) announced Monday.
Bai Rongchun, director of SETC's industry planning department, said at a press conference that the plan, based on China's 10th five-year plan for social and economic development (2001-2005), is aimed to promote the restructuring and upgrading of the industrial sector.
It is also a component of China's overall plan for development in the five-year period. The overall plan also includes an outline plan for social and economic development, and special plans for major issues that are crucial to the national economy.
The five-year plan covers 13 industries, namely machinery, motor vehicles, metallurgy, non-ferrous metals, oil, petrochemicals, chemicals, pharmaceuticals, coal, building materials, light industry, textiles and power.
"The plan is instructive, rather than compulsory," said Bai, adding that the role of the government is on macro-control and coordination, while enterprises are the main body of the restructuring.
Earlier this year, China axed nine state administrations under the SETC to streamline the government, and announced that the administrative functions of the administrations would transfer to the SETC.
"The announcement of the plan is crucial to SETC's transfer of administrative functions," said Bai Rongchun, who added that the Commission is striving to change from a government organization that mainly focuses on releasing files and granting approvals to one that guides enterprises with state policies.
The plan highlights the development of equipment manufacturing, the improvement of energy resources and raw materials, and the provision of consumer goods that will improve people's living standard.
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