Chinese premier stresses formulating five-year plan to deepen reform, opening-up

Chinese Premier Li Keqiang has stressed adopting a practical approach in formulating the 14th Five-Year Plan (2021-2025) for National Economic and Social Development that takes into account the current and long-term situation and will promote the deepening of reform and opening-up.

Li, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks Wednesday at a meeting of the State Council's leading group on the five-year plan's draft formulation.

Vice Premier Han Zheng, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, attended the meeting.

Li urged efforts to formulate a plan that can stand the test of practice and history.

Noting that the draft plan should be formulated on the basis of thorough consideration of development in the next five years and mesh with the long-range objectives through the year 2035, Li said it should contain overall plans and arrangements for the next two years when China will move to restore normal economic growth to lay a solid foundation for future development.

Li also stressed properly setting development targets for the plan period, which need to be encouraging and leave some leeway at the same time.

The premier said the draft plan should put forward more measures to advance institutional opening-up, improve the environment for foreign trade and investment, and enhance international exchange and cooperation.