The year 2016 is the first year of the 13th Five-year Plan. Macro-control is expected to focus on boosting supply and demand, reform and opening-up, mass innovation, as well as fiscal and monetary policies.
China will keep its monetary policy stable even though the European Central Bank might announce a decision on Thursday to buy government bonds and loosen monetary policy, the chief of China's central bank said.
An 80-plus Chinese delegation comprising high-ranking government officials, business elites and academicians drew attentions at the Davos forum.
China's economy still boasts good fundamentals with huge development potential, strong resilience and a huge room for self-adjustment.
Recovery of world's economy remains uncertain, as global stock markets, foreign exchanges and commodities markets perform with great volatility. Faced with such new situations, the State Council has remained unwavering in taking initiatives, promoting macro-management, deepening reform and encouraging mass entrepreneurship and innovation. China has been tackling risks and challenges effectively, ensuring stable growth which restores the faith and hope of many on global economic recovery.
R&D spending is expected to continue rising in the coming years, and business registration, a reflection of mass entrepreneurship, is to increase as well.
Centralization or decentralization? That could be the top-most concern for financial regulators over the next five years. There are no doubts that a stronger supervision system will emerge soon.
China's top leadership on Monday pledged that it would stabilize and improve macro policies to create an amicable environment for economic growth and ongoing structural reforms.
Continued transformation of the economy and a decisive role for the market are needed as China enters a period of slower growth.
Many pessimistic analysts just see the slowdown in economic growth, but they ignore the positive changes taking place in the economy.
The Third Session of the 12th National Committee of the Chinese People's Political Consultative Conference (CPPCC), the country's top political advisory body.
To vitalize the economy China has been enhancing targeted macro-control for smooth structural adjustment.
Stronger tax breaks and the abolishment of many charges had stimulated the market.
The government placed more emphasis on people's livelihood and increased funding for education, medical care and social security, which surged 15.8 percent, 19.5 percent and 21.7 percent respectively in the Jan-Aug period in 2015.
New measures were put forward to fuel the real economy such as the 60 billion yuan development fund to nurture small and medium-sized enterprises (SMEs), and the promotion of public-private-partnerships.