It's equivalent to building another Yangtze River Delta. China's GDP is expected to increase by over 35 trillion yuan in five years. How can this be achieved?
This year marks the final year of the 14th Five-Year Plan. The effectiveness of various tasks and the final report card have drawn wide attention from all sectors of society.
On the morning of July 9, the State Council Information Office held the first press conference in the series themed "High-quality Completion of the 14th Five-Year Plan". According to Zheng Shanjie, the director of the National Development and Reform Commission, China has made progress in multiple fields during the 14th Five-Year Plan period: the average annual economic growth rate in the first four years reached 5.5%; the number of private enterprises increased to over 58 million; the added value of the manufacturing industry exceeded 30 trillion yuan each year...
Li Chunlin, the deputy director of the National Development and Reform Commission, stated that after more than four years of solid implementation, the 102 major projects in the 14th Five-Year Plan have achieved a series of significant progress and remarkable results. It is expected that all the planned goals and tasks will be completed by the end of the year.
Based on these achievements, Zhang Di, the chief macro analyst at China Galaxy Securities, told reporters from Time Weekly that during the 14th Five-Year Plan period, most of the 20 major goals will be successfully achieved. Among them, the indicators related to innovation-driven development and security assurance have already exceeded the targets ahead of schedule. However, efforts are still needed to achieve the goals in the field of people's well - being, specifically the number of childcare places for children under three per 1,000 people, and in the green ecological field, such as reducing energy consumption per unit of GDP and carbon dioxide emissions per unit of GDP.
Economic Report Card
Keyword 1: The Expected Economic Increment in Five Years Exceeds 35 Trillion Yuan
From 2021 to 2024, China's economy maintained a relatively rapid average annual growth rate of 5.5%. In this process of steady growth, domestic demand became the core driving force, with an average contribution rate of 86.4% to economic growth. Among them, the role of final consumption was particularly prominent, with an average contribution rate of 56.2%, an increase of 8.6 percentage points compared with the 13th Five-Year Plan period, fully demonstrating the strong vitality of the consumer market.
In terms of total economic volume, during the 14th Five-Year Plan period, China's GDP continued to exceed 110 trillion, 120 trillion, and 130 trillion yuan. Zheng Shanjie said that China's economic volume is expected to reach about 140 trillion yuan this year. The expected economic increment in five years will exceed 35 trillion yuan, equivalent to the total GDP of Guangdong, Jiangsu, and Shandong, the top three economic provinces in 2024. It is also equivalent to recreating the Yangtze River Delta and exceeds the total GDP of the world's third - ranked country. China's annual contribution rate to world economic growth remains at around 30%.
Keyword 2: The Increment of R & D Investment Reached 1.2 Trillion Yuan
The 14th Five-Year Plan elevated innovation to an unprecedentedly important position. Over the five - year period, China's R & D investment reached a new high. Last year, the total R & D expenditure of the whole society increased by nearly 50% compared with the end of the 13th Five-Year Plan, with an increment of 1.2 trillion yuan. The R & D investment intensity increased to 2.68%, approaching the average level of OECD countries.
The continuous investment in scientific research funds has yielded results. Zheng Shanjie introduced that during the 14th Five-Year Plan period, China reached one innovation peak after another:
At sea, the first domestic electromagnetic - catapult aircraft carrier, Fujian, was launched, and the first domestic large - scale cruise ship, Adora Magic City, was completed and put into operation. Coupled with the world - leading large - scale liquefied natural gas (LNG) carriers, China has gathered the "three pearls" on the crown of the shipbuilding industry.
On land, the world's first fourth - generation nuclear power plant at the Shidaowan base was put into commercial operation.
In the sky, the first Chinese space station, Tiangong, was fully completed and put into operation. The world's first fourth - generation nuclear power plant at the Shidaowan base was put into commercial operation. Chang'e 6 achieved the world's first unmanned sample return from the far side of the moon. The first domestic large - scale airliner, C919, developed in accordance with international airworthiness standards, achieved commercial flights, and so on.
Zheng Shanjie said that these "firsts" demonstrated significant breakthroughs in China's innovation. Technological innovation has driven the continuous upgrading of industries to the mid - high end. In many fields, there has been an accelerating transformation from quantitative change to qualitative change, from the mid - low end to the mid - high end, and from a follower to a leader.
Keyword 3: The Number of Private Enterprises Increased by Over 40%
Zheng Shanjie introduced that during the 14th Five-Year Plan period, China "turned the blade towards itself" to remove institutional and mechanism obstacles. The "four - beam and eight - column" framework of the national unified market was basically established, and the Law on Promoting the Development of the Private Economy was promulgated and implemented.
The restrictions on foreign investment access to the manufacturing industry were completely lifted, and the number of restrictive measures on the national negative list for foreign investment access was reduced to 29. During the 14th Five-Year Plan period, the number of private enterprises in China increased to over 58 million, a growth of over 40% compared with the end of the 13th Five-Year Plan.
In addition, from 2021 to May this year, foreign investors' cumulative direct investment in China reached 4.7 trillion yuan, exceeding the total during the 13th Five-Year Plan period. Foreign - funded enterprises contributed one - third of China's imports and exports, one - fourth of the industrial added value, and one - seventh of the tax revenue, and created more than 30 million jobs.
Keyword 4: Maintained the Leading Position in Global Manufacturing for 15 Consecutive Years
Zheng Shanjie introduced that since the 14th Five-Year Plan, the added value of the manufacturing industry has exceeded 30 trillion yuan each year. China has maintained the leading position in global manufacturing for 15 consecutive years, and the output of more than 220 major industrial products ranks first in the world. There are fewer and fewer things that China cannot produce, and the products it can produce are getting better and better.
The development of the manufacturing industry cannot be separated from the continuous injection of innovation momentum.
Zheng Shanjie said that China has the world's largest R & D personnel team. The number of the world's top 100 science and technology innovation clusters in China reached 26, ranking first in the world. There are more than 460,000 high - tech enterprises, and innovation achievements are constantly emerging.
For example, in the past few years, China has independently developed high - performance chips and operating systems, AI large - models that empower all industries, and robots that can greatly improve production efficiency. New industries, new business forms, and new business models represented by "Artificial Intelligence +" are accelerating their implementation. In 2024, the added value of the "three new" economies exceeded 24 trillion yuan, equivalent to the total GDP of Beijing, Shanghai, and Guangdong.
People's Well - being Report Card
Keyword 5: The Medical Insurance Participation Rate Exceeds 95%
During the 14th Five-Year Plan period, the achievements of economic development and technological progress have been translated into people's sense of gain and happiness. Macroscopically, China has established the world's largest education system, social security system, and medical and health system. The consolidation rate of compulsory education and the participation rates of basic endowment insurance and basic medical insurance are all above 95%.
Zheng Shanjie introduced that during the 14th Five-Year Plan period, China newly planned 114 national regional medical centers, and the total number now reaches 125. The direct settlement of cross - provincial medical expenses across the country has been established from scratch, benefiting more than 400 million person - times.
In terms of the elderly and children, the number of participants in long - term care insurance exceeded 180 million, and the average life expectancy reached 79 years. From the 12th Five - Year Plan to the 14th Five - Year Plan, it increased by one year every five years.
In addition, according to Zhou Haibing, the deputy director of the National Development and Reform Commission, during the 14th Five-Year Plan period, China's high - quality medical resources have also accelerated their expansion and sinking, with a more balanced regional layout. National regional medical centers are being built and playing their roles faster. More and more people in the central and western regions can enjoy high - level medical services locally. 402 kinds of drugs have been newly included in the national medical insurance drug list, and cross - provincial medical insurance settlement has become more convenient.
"The high - quality service system for the elderly and children is being built faster. The proportion of nursing - type elderly care beds in the country has increased to 64.6%, further providing support for the care needs of the disabled and demented elderly." Zhou Haibing said that currently, China has built childcare comprehensive service centers in more than 300 prefecture - level cities and populous counties, striving to make it more affordable and reliable for more people to entrust their children.
On the other side of "children" is education. Science and technology are the primary productive forces, talent is the primary resource, and innovation is the primary driving force. Education has become the link and path connecting the three.
During the 14th Five-Year Plan period, to make education more fair and accessible, the state promoted the proportion of migrant workers' children studying in public schools or enjoying government - purchased school places to reach 97%, an increase of 11.2 percentage points compared with the end of the 13th Five - Year Plan.
Zhou Haibing introduced that in 2024, the popularization level of education at all levels in China reached or exceeded the average level of upper - middle - income countries, and the average years of education of the newly - added labor force exceeded 14 years.
Keyword 6: The Average Contribution Rate of Consumption to Economic Growth Reached 56.2%
Focusing on people's well - being, stabilizing employment to increase residents' income, and then stimulating consumption are important means to expand domestic demand.
As the foundation of people's well - being, Zheng Shanjie revealed that since the 14th Five - Year Plan, the annual number of newly - added urban jobs has been stable at more than 12 million. In a large developing country with a population of more than 1.4 billion, relatively full employment has been achieved.
It is understood that in 2024, the proportion of employment in the primary, secondary, and tertiary industries was 22.2%, 29%, and 48.8% respectively. The role of the service industry in absorbing employment has been significantly enhanced. The growth of residents' income is basically synchronized with economic growth, and the relative gap between urban and rural incomes has further narrowed.
Meanwhile, China also has the world's largest middle - income group. Income is the basis and prerequisite for consumption. Only by increasing residents' income can we fundamentally promote residents' consumption and then play the role of consumption in driving the economy.
In the past four years, the average contribution rate of final consumption to China's economic growth reached 56.2%, an increase of 8.6 percentage points compared with the 13th Five - Year Plan period. New products, new business forms, and new models in the consumption field have emerged in an endless stream.
Yuan Da, the secretary - general of the National Development and Reform Commission, introduced at the press conference that in terms of commodity consumption, artificial intelligence has been accelerating its integration into daily production and life. Smartphones, smart homes, and smart cars are widely welcomed by consumers. New products such as 360 - degree panoramic action cameras and AI smart glasses have become extremely popular. Chinese - style and national - trend products have performed outstandingly, with the sales of Hanfu and cultural and creative products doubling. In terms of service consumption, the supply and demand in culture, sports, tourism, and health care are more diverse. "Blockbusters" such as intangible cultural heritages and cultural and museum IPs have frequently appeared. City walking and Chinese - style tea - drinking have become fashionable trends.
Meanwhile, investment and consumption also promote each other.
Yuan Da said that on the one hand, the expansion of market consumption drives investment through product production, supporting construction, etc. For example, the continuous strong demand for 5G and smartphones has driven the average annual growth of investment in the Internet and related service industries by 21.9% and the average annual growth of investment in the communication equipment manufacturing industry by 11.2% in the past four years. On the other hand, the increase in effective investment promotes residents' employment and income through the production chain, improves consumption ability, and also improves consumption conditions by improving facilities and optimizing the environment, directly promoting consumption. For example, by the end of 2024, the total number of charging facilities across the country had reached 1.2818 million, effectively supporting the large - scale popularization of new - energy vehicles.
In 2024, the number of new - energy vehicles in China reached 31.4 million, more than five times the 4.92 million at the end of the 13th Five - Year Plan.
Keyword 7: More Than 1 Billion Mu of High - Standard Farmland Has Been Built in Total
At the press conference, Zheng Shanjie said that since the 14th Five - Year Plan, the security foundation in areas such as food, energy, industry, and national defense in China has been further consolidated.
In terms of food, during the 14th Five - Year Plan, 460 million mu of high - standard farmland was supported for new construction and renovation and upgrading. Currently, more than 1 billion mu of high - standard farmland has been built in total, equivalent to the total area of Heilongjiang and Henan, the top two provinces in terms of grain output. Chinese people firmly hold their own rice bowls.
In terms of energy, China has established the world's largest power infrastructure system, with the installed power generation capacity accounting for one - third of the world's total. Even during peak energy - consumption periods such as the peak summer and winter seasons, the energy - consumption needs of the people are effectively guaranteed.
In terms of industrial foundation, China has the world's largest, most complete, and most comprehensive manufacturing system. The resilience and security level of the industrial chain and supply chain are constantly improving, and we have more confidence to deal with various risks and challenges. At the same time, national defense capabilities and economic strength have been improved simultaneously, and the strategic capabilities to safeguard national sovereignty, security, and development interests have been continuously enhanced.
Keyword 8: The Completion Rate of the "Six Axes, Seven Corridors, and Eight Channels" Exceeds 90%
Since the 14th Five - Year Plan, the infrastructure network has become more systematic and complete.
The "main arteries" are more unobstructed. It was introduced at the meeting that during the 14th Five - Year Plan period, the main framework of the national comprehensive three - dimensional transportation network, the "Six Axes, Seven Corridors, and Eight Channels", has been accelerating its improvement. Currently, the completion rate has exceeded 90%, covering more than 80% of the counties and serving about 90% of the economy and population, forming the main arteries of the national economy that connect the east and the west horizontally, run through the north and the south vertically, and reach the seas.
The "capillaries" are also more developed. At the end of 2024, the total mileage of rural roads reached 4.64 million kilometers. During the poverty - alleviation campaign, basically all villages were connected by hardened roads, promoting the flow of industrial products to the countryside and agricultural products to the cities. More villagers can "get on the bus as soon as they go out and pick up express deliveries at the village entrance".
Zheng Shanjie said that during the 14th Five - Year Plan period, China's newly - put - into - operation high - speed rail mileage exceeded 10,000 kilometers. As of now, China's high - speed rail operating mileage is twice the total of other countries.
The improvement of the transportation network has driven the reduction of costs and the increase of efficiency across society. In 2024, the whole - society logistics cost savings exceeded 400 billion yuan, and it is expected to save about 300 billion yuan more this year. The cold - chain logistics system has also become more complete.
Meanwhile, new technologies have injected new vitality into traditional infrastructure and made it safer and more reliable. Li Chunlin introduced at the meeting that in 2024, the average hourly throughput of national ports reached 38,000 twenty - foot equivalent units