Page 136 - 2024 Special Report on the State of Business in South China
P. 136
Recent policies and reforms - Continuously optimize industrial structure
and accelerate the development of modern
The Outline of the 14th Five-Year Plan industrial systems
(2021-2025) for Fujian Economic and Social
Development and the Long-Range Objectives - Stay focused on the fundamental strategy
Through the Year 203545 of expanding domestic demand to continuously
stimulate endogenous economic growth
On 2 March 2021, the Outline of the 14th Five-
Year Plan (2021-2025) for Fujian Economic and - Pursue further reform and opening-up in
Social Development and the Long-Range Objectives all respects and facilitate the concentration of high-
Through the Year 2035 was released. It reviews the quality production factors
achievements of the 13th Five-Year Plan and sets main
targets and specific strategies for the economic and - Redress development imbalances and
social development of the whole province. Specifically: inadequacies and redouble efforts to advance
coordinated urban-rural development
Main objectives:
- Build Fujian into an eco-province and
Fujian aims to deliver high-quality leapfrog contribute more to the Beautiful China Initiative
development on all fronts when China realizes
socialist modernization by 2035. Particularly, Fujian - Ensure and improve people’s wellbeing
will accelerate the shift of economic growth models and open new prospects for social development
and drivers, as well as expand its lead in overall
economy size and further strengthen efficient, TheOutlineofthe14thFive-YearPlan(2021-
equitable, sustainable and secure development. 2025) for Fujian Business Development47
Key economic targets: On 2 August 2021, Fujian has released its
business development plan for the next five years.
- An annual GDP growth around 6.3% YoY The plan rethinks the shortages and challenges
during the 13th Five-Year Plan period, and states
- The value-added of service industry that Fujian will coordinate the development of
accounts for over 50% both domestic and foreign demands, imports and
exports, two-way investment, and the balance of
- Investment in R&D growth by 18% YoY urban and rural areas. It also shows that Fujian
will focus on promoting the formation of a strong
- The value-added of digital economy growth domestic market, as well as improving the level of
by 3% YoY reform and opening up. Specifically:
- The urbanization reaches 71.5% Key targets:
- Average annual growth of disposable - An average annual growth of 6.5% in total
income per capita reaches over 7% retail sales of consumer goods
Nine priorities46: - An average annual growth of 14.9% in
online retail sales
- Vigorously advance scientific and
technological innovation to speed up Fujian’s - An average annual growth of 5% in total
transformation into an innovation-driven economy imports and exports trade
45 Government site of Fujian, https://fu-
jian.gov.cn/zwgk/zfxxgk/szfwj/szfgz/202103/ 47 Government site of Fujian, https://
t20210319_5552893.htm www.fujian.gov.cn/zwgk/zxwj/szfbgtwj/202108/
46 Government site of Fujian, https://www. t20210810_5666928.htm
fujian.gov.cn/english/FujianInfo/FujianNews/202102/
t20210210_5534940.htm
136
and accelerate the development of modern
The Outline of the 14th Five-Year Plan industrial systems
(2021-2025) for Fujian Economic and Social
Development and the Long-Range Objectives - Stay focused on the fundamental strategy
Through the Year 203545 of expanding domestic demand to continuously
stimulate endogenous economic growth
On 2 March 2021, the Outline of the 14th Five-
Year Plan (2021-2025) for Fujian Economic and - Pursue further reform and opening-up in
Social Development and the Long-Range Objectives all respects and facilitate the concentration of high-
Through the Year 2035 was released. It reviews the quality production factors
achievements of the 13th Five-Year Plan and sets main
targets and specific strategies for the economic and - Redress development imbalances and
social development of the whole province. Specifically: inadequacies and redouble efforts to advance
coordinated urban-rural development
Main objectives:
- Build Fujian into an eco-province and
Fujian aims to deliver high-quality leapfrog contribute more to the Beautiful China Initiative
development on all fronts when China realizes
socialist modernization by 2035. Particularly, Fujian - Ensure and improve people’s wellbeing
will accelerate the shift of economic growth models and open new prospects for social development
and drivers, as well as expand its lead in overall
economy size and further strengthen efficient, TheOutlineofthe14thFive-YearPlan(2021-
equitable, sustainable and secure development. 2025) for Fujian Business Development47
Key economic targets: On 2 August 2021, Fujian has released its
business development plan for the next five years.
- An annual GDP growth around 6.3% YoY The plan rethinks the shortages and challenges
during the 13th Five-Year Plan period, and states
- The value-added of service industry that Fujian will coordinate the development of
accounts for over 50% both domestic and foreign demands, imports and
exports, two-way investment, and the balance of
- Investment in R&D growth by 18% YoY urban and rural areas. It also shows that Fujian
will focus on promoting the formation of a strong
- The value-added of digital economy growth domestic market, as well as improving the level of
by 3% YoY reform and opening up. Specifically:
- The urbanization reaches 71.5% Key targets:
- Average annual growth of disposable - An average annual growth of 6.5% in total
income per capita reaches over 7% retail sales of consumer goods
Nine priorities46: - An average annual growth of 14.9% in
online retail sales
- Vigorously advance scientific and
technological innovation to speed up Fujian’s - An average annual growth of 5% in total
transformation into an innovation-driven economy imports and exports trade
45 Government site of Fujian, https://fu-
jian.gov.cn/zwgk/zfxxgk/szfwj/szfgz/202103/ 47 Government site of Fujian, https://
t20210319_5552893.htm www.fujian.gov.cn/zwgk/zxwj/szfbgtwj/202108/
46 Government site of Fujian, https://www. t20210810_5666928.htm
fujian.gov.cn/english/FujianInfo/FujianNews/202102/
t20210210_5534940.htm
136
