CCTV.com - CNTV English - CCTV News

US think tank on China's 12th Five Year Plan

11-02-2011 14:34 BJT

Watch Video

Play Video

American and Chinese academics and policymakers gathered this week to discuss China's 12th Five Year plan, the country’s key economic policy objectives, and take a closer look at China's efforts to develop a green economy.

Former Vice-Chairman of the Standing Committee of the National People’s Congress, Cheng Siwei, attended the seminar.

China’s 12th Five Year Plan, unveiled in March 2011, sets a master agenda for economic development. The blueprint includes policy objectives for the next five years, and detailed guidelines for key sectors of the economy.

One major objective of the plan is to rebalance the economy, primarily by emphasizing domestic consumption over China’s current model of export-led growth.

Cheng Siwei, former vice chairman of the Standing Committee of China’s NPC, presented his views on China’s economic goals.

After 25 years of market reforms, China’s economic planners have begun to confront new challenges. They’re starting to rethink the country’s export-led growth model, in favour of encouraging domestic consumption and managing the often-complicated side effects of rapid economic growth.

Kenneth G. Lieberthal, senior fellow from the Brookings Institution raised concern about China’s trade relationship with other countries.

China has been the U.S.’s fastest growing export market for the past decade. U.S. exports to China increased by almost 500 percent from 2000 to 2010, while its exports to other countries increased only by 55 percent.

Cheng also reiterated mutual trust and understanding is very crucial when it comes to China - U.S. economic development. He says, the two nations should work together to advance mutual economic interests.

 

Editor:Zhang Rui |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program