President Xi Jinping said on Saturday that China can no longer rely on its previous economic development model of depending on global exports and must build self-controlled, safe and reliable domestic production and supply system to ensure industrial and national security.
The just-concluded plenary session of the ruling Communist Party of China (CPC), headed by Xi, adopted his proposals for the formulation of the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035.
While the 14th five-year plan envisages a massive overhaul of the country’s domestic market to boost consumption in order to reduce China’s reliance on shrinking exports markets, the Vision 2035 visualises a long-term plan, reflecting the development vision of Xi.
Politically, Xi’s Vision 2035 plan has sparked speculation that he could continue…
