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Spotlight: Overseas media expect China's 13th 5-year plan to bear on world economic development

Xinhua, October 29, 2015 Adjust font size:

The ongoing meeting in Beijing to decide on China's development blueprint for the next five years is widely watched across the world.

Many overseas media expect China's 13th Five-Year Plan under discussion at the fifth plenary session of the 18th Communist Party of China Central Committee from Monday to Thursday to have a major bearing on the trajectory of world economic development.

GLOBAL FOCUS

"China is a key driver of the world economy," and analysts have urged it to undertake more and broader structural reforms to sustain its long-term economic growth, said the Agence France-Press.

Chinese leaders have pledged to establish a new normal of slower, more sustainable growth after the double-digit growth in the past, said AFP in a report.

The Australian Financial Review predicted that stricter environmental protection policies, and more extended social welfare, as well as new policies on family planning would come out of this important meeting.

The meeting is expected to reduce government interference in economic activities, said The Wall Street Journal on its website.

A business newspaper run by Turkey's Hurriyet Daily News has taken note of the "new normal" for China's economic growth, and the implications of China's "Belt and Road" initiative on world economic development.

POTENTIAL BENEFITS FOR WORLD

Les Echos in France dedicated a whole page to the meeting, covering topics under discussion and carrying analysts' comments on China's economic development.

China's steady marching on its development road will bring benefits to the whole world, Les Echos said. It estimated that China would contribute 32 percent of world economic growth this year and its investment would account for 30 percent of the world's total.

The targets of China's development under the "new normal" will be closely linked to its global economic contribution, the Brazilian website Vermelho said.

China's global influence will be embodied in its economic scale, its stable growth, deeper fusion with the world market and more domestic vitality to provide the world with more development opportunities, Vermelho said.

As a major engine of world economic growth, China's new five-year plan not only charts the country's roadmap for the next phase, but also affects the direction of world economic development, said Qian Feng, vice president of Thailand's Asian Daily.

It is hoped that China could further expand its global vision and push forward win-win cooperation among the developing countries, said Qian. Endit