SYDNEY, Nov. 9 -- The proposal for China's 13th Five-Year Plan, the country's development blueprint over the next five years, showcases innovation, consolidation and globalisation, Australian experts have said.

Proposal on formulating the 13th Five-Year Plan, adopted at the Fifth Plenary Session of the 18th Communist Party of China (CPC) Central Committee which ended on Oct. 29, sets guidelines and targets for the next five years. It highlights the ideas of innovation, coordination, green development, opening up and sharing to fulfill its goals.

“Three words characterize China's 13th Five-Year Plan: innovation, consolidation and globalisation. The Plan is ambitious and realistic in balancing disruptive technical and environmental innovation with social and institutional consolidation, while recognising that success depends on global integration and partnership,” said Hans Hendrischke, Professor of Chinese business and management, University of Sydney Business School, in an interview with People’s Daily Online.

“The Plan calls for disruptive innovation in technology, environment, energy and education to address the threats of large scale environmental degradation and technical obsolescence. The measures for social and institutional consolidation aim to address social divisions and the need for more transparency and accountability. The Plan reflects a confident China that acknowledges international interdependence and recognises that the benchmarks for technical, economic and social progress are global,” he said.

Jeffrey Riegel, Professor and Director of the University of Sydney's China Studies Centre, told People’s Daily Online, “The Fifth Plenum may be regarded as a significant landmark along the road of reevaluating and adjusting some of the policies and economic practices that have been in place since the beginning of the period of reform. The Plenum reflected China's confidence in getting things done and her recognition of the need for self-reflection. Initiatives in the areas of social policy, environmental protection, and bringing a new balance to the economy are welcome and show that the leadership is listening and mindful of the need for change.”