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China to accelerate key projects in 14th Five-Year Plan

Release time:2022-01-21 author: CIECCPA source:CIECCPA
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China will accelerate the implementation of major projects outlined in the 14th Five-Year (2021-2025) plan for social and economic development with expanded investment, the country’s cabinet, the State Council, has decided.

A State Council executive meeting chaired by Premier Li Keqiang on Monday said that, as viable policies and detailed plans had been created, relevant authorities should speed up major projects with solid measures and in an orderly fashion.

By acknowledging that Chinese economy is in a “crucial” period to keep its growth momentum, the meeting vowed to give higher priority to stabilising economic growth, continue its strategy of expanding domestic demand, and take targeted steps to boost consumption and investment.

Pushing forward all major projects in the 14th Five-Year Plan period, the country will accordingly ensure the financing, land use and energy supply for critical sectors such as food and energy security, the advanced manufacturing and high-tech industries, logistics and telecommunications, and urban government-subsidised housing.

Also on the healthcare front, the meeting decided that China will normalise the centralised bulk-buying of drugs and high-value medical consumables to further reduce medical costs.

On the local level, the country will put into use the 1.2 trillion yuan of local-government special bonds issued in the fourth quarter of 2021, and accelerate the issuance of the front-loaded 2022 bond quota.

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