BEIJING, Oct. 29 (Xinhua) -- Innovation will be put at core position for China's development in the five years from 2016, according to a communique released on Thursday following a four-day meeting of the Central Committee of the Communist Party of China (CPC).
Leaders of the CPC convened in Beijing on Monday for the Fifth Plenary Session of the 18th CPC Central Committee, to discuss an economic blueprint that will set the direction for the world's second-largest economy over the next five years.
Sectors including science, technology and culture need to be made more innovative, said the communique.
The government plans to encourage a system that nurtures innovation and sees better allocation of resources including labor, capital, land, technology and management.
China will continue to encourage mass entrepreneurship in the hope that it will lead to new technology, the communique said.
In response to the "new normal" of the plateauing economy, the central government has announced a range of measures for emerging businesses, including financial support, supporting infrastructure and administrative assistance.
From January to September, around 3.16 million new companies were established in China, up 19.3 percent from a year ago, according to the latest data from the State Administration for Industry and Commerce.
In this period, the high-tech sector reported 10.4-percent growth in value-added output, 4.2 percentage points higher than the figure for the whole industrial sector.
Related:
Spotlight: Overseas media expect China's 13th 5-year plan to bear on world economic development
BEIJING, Oct. 29 (Xinhua) -- 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. Full story
CPC confirms medium-high economic growth target
BEIJING, Oct. 29 (Xinhua) -- China will target "medium-high economic growth" in the five years from 2016, according to a communique released on Thursday following a key meeting of the Communist Party of China (CPC). Full story
China to raise consumption's contribution to growth
BEIJING, Oct. 29 (Xinhua) -- China will significantly raise the contribution of consumption to economic growth from 2016 to 2020, according to a statement released on Thursday following a four-day key meeting of the Communist Party of China. Full story
China aims to double 2010 GDP, people's income by 2020
BEIJING, Oct. 29 (Xinhua) -- China is aiming to double its 2010 GDP and per-capita income of residents both in cities and rural areas by 2020, according to a communique released on Thursday following a four-day key meeting of the Communist Party of China. Full story
China to allow two children for all couples
BEIJING, Oct. 29 (Xinhua) -- China will allow all couples to have two children, abandoning its decades-long one-child policy, the Communist Party of China (CPC) announced after a key meeting on Thursday.Full story
China to further facilitate foreign investment
BEIJING, Oct. 29 (Xinhua) -- China will further promote foreign investment by adopting the "pre-establishment national treatment plus negative list" approach nationwide, according to a communique released on Thursday following a four-day key meeting of the Communist Party of China. Full story
CPC targets transparency to woo foreign investors
BEIJING, Oct. 29 (Xinhua) -- China will attract more foreign investors by being clearer on the rules that apply to them, according to a communique released on Thursday following the Fifth Plenary Session of the 18th Communist Party of China (CPC) Central Committee. Full story
CPC vows less government price intervention
BEIJING, Oct. 29 (Xinhua) -- The Chinese government will intervene less in price formation, according to a communique released on Thursday after a four-day key meeting of the Communist Party of China (CPC) . Full story
China prioritizes quality, efficient development in next five-year plan
BEIJING, Oct. 29 (Xinhua) -- China will prioritize quality and efficient development in the next five years starting 2016, according to a communique released on Thursday following a four-day key meeting of the Communist Party of China. Full story
China to extend old-age insurance to all
BEIJING, Oct. 29 (Xinhua) -- China will extend old-age insurance to its full population, its leaders decided at a key meeting that ended on Thursday.Full story
CPC meeting confirms major officials' expulsion
BEIJING, Oct. 29 (Xinhua) -- The fifth plenary session of the 18th Communist Party of China (CPC) Central Committee on Thursday endorsed prior decisions to revoke the membership of 10 former officials, including Ling Jihua. Full story
Three officials fill vacancies of CPC Central Committee membership
BEIJING, Oct. 29 (Xinhua) -- Three new members filled vacancies of the Central Committee of the Communist Party of China (CPC) on Thursday after former members were expelled from the Party. Full story
