At the fifth plenary session of the 19th Central Committee of the Communist Party of China (CPC), proposals for the formulation of the 14th Five-Year Plan (2021-25) for National Economic and Social Development and Long-Range Objectives Through the Year 2035 were approved, pointing to a clear direction for economic and social development in the next five years, Premier Li Keqiang wrote in an article published in People’s Daily on Nov 18.

Building a modern socialist country has always been a goal for CPC and the country. From 2016 to 2019, China's GDP grew at an average annual rate of 6.7 percent; in 2019, China's per capita GDP exceeded $10,000; and China's economy is expected to achieve positive growth in 2020, with total GDP surpassing 100 trillion yuan.

Building a moderately prosperous society in all respects and achieving the first centenary goal will be a milestone in China's socialist modernization process.

The 19th National Congress of the CPC divided the road to the second centenary goal into two phases. In the first stage, from 2020 to 2035, socialist modernization will be achieved. In the second stage by the middle of this century, China will become a modern socialist country that is prosperous, strong, democratic, culturally advanced, harmonious, and beautiful, according to the article.

Externally, peace and development remains the theme of the era. Domestically, China's economy has shifted from rapid growth to high-quality development.

China embraces political and systematic advantages, a profound economic foundation and huge market potential. The economic trend of China has been and will continue to be healthy and sound in the long term.

China should maintain and make good use of this important period of strategic opportunities for development.

The 19th National Congress of the CPC has made it clear that China is still in the primary stage of socialism and will remain so for a long time. Long-term arduous efforts are needed to approach the level of developed countries regarding modern industries, people's livelihoods and ecological environment. Development is the basis and key to solving any problems in this country, thus economic construction must be made a central task.

Meanwhile, China must focus on preventing and resolving major risks and challenges, using a stable basis to cope with uncertainties in the external environment, the article said.

Facing the impact of COVID-19 and global economic recession in 2020, security in six areas should be not only the focus of the current work, but will also be a major issue during the 14th Five-Year Plan period.

China should build a new pattern of development, in which the domestic cycle plays a major role, and domestic and international cycles promote each other. Moreover, domestic demand should be expanded, opening-up should be further deepened, and new advantages in international cooperation and competition should be built.

The concept of people-centered development must be carried out, practical issues of greatest concern to the people must be resolved, and more efforts should be made to promote social justice, enhancing people’s sense of fulfillment, happiness, and security.

In addition, efforts should also be made to enhance favorable policies in employment, raise people's income, increase consumption and effective investment, expand market space, and stimulate economic growth, to step onto a new development route of virtuous cycle, according to the article.