China vows more balanced income distribution, improved healthcare, and a stronger social welfare net as the 17th Central Committee of the Communist Party of China approved the draft of the country's 12th Five Year Plan.
The five-year economic blueprint, which starts 2011, aims to release domestic wellsprings of growth for urban and rural households to see the nation's economy rise by some 50 percent to $7.5 trillion by 2015. The plan comes as the nation's average per-capita income for the richest 10 percent reaches 65 times that of the poorest 10 percent, according to a Credit Suisse-sponsored study by Chinese economist.
To meet these goals, Beijing plans to:
- stimulate consumption demand and optimize investment structure to achieve steady and rapid economic growth
- improve social security and adjust the income distribution system to enlarge the share of household income in GDP boost farmers' income
- improve farmers' income
- promote urbanisation
- develop strategic industries and accelerate development of services sectors
- promote green economy
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