12th Five Year Plan Analysis

By synthesizing some readings and class discussions from the National Bureau of Statistics of China and China’s Twelfth Five-Year Plan. I would like to agree that the policies outlined in the 12th Five-year Plan may have promoted the overall economic development of China. The People’s Republic of China has done a pretty good job in improving the local economic development in several ways. However, I do believe that there are more things China’ government could be done in adopt the reform in order to have a larger increase to the overall economic growth, especially the reform programs of SOEs. To begin, in order to get a closer view to the overall economic development in China, at the following paragraphs, I will first talk about some factors …show more content…
And all the adjustment process in China’s economic sphere ownership structure is same as the process of gradual deepening market-oriented reforms and the rise of non-public economy. Some many years of reform and opening up, with the advance of market-oriented reforms, the ownership structure and it is implementation forms has gradually diversified. At the same time, while the degree, the market-oriented have increased, it also contributed the improvement on the ownership structure and improved the efficiency of resource allocation. China’s economy has entered into a new period of rapid growth, with the idea of China’s Twelfth Five-Year Plan, The focus of China’ economic development is now steering from promoting policies to institutional guarantee. Moreover, the adjustment of ownership structure is also entered on Crucial …show more content…
The Twelfth Five Year Plan has mentioned that the Central Committee is likely to promote the economic reform and cultural system vigorously, somehow, I do not see the planning has breakthrough the key areas. One section of the 12th five year plan mentioned that China is going to deepen the reform of state-owned enterprises, and which, are the most Incomprehensible reform to me. It wrote that the government will continue to promote the telecommunications, petroleum, civil aviation and public utilities reform, but, they are also going to deepen the reform of monopoly industries, and further the expand market access, in order to form a market structure with effective competition. Wait a second, it is so contradicting! It seems that since the 90s, the central have released many industries to the privately owned enterprise to join in the market, for example, the real estate, automotive and banking. But the truth is, with the inland central power through various policy means, the local governments could choose who could enter into the “ deregulated “ industries. There is a simple example, could show the problem clearly. In China, the oil industry is always one of the most profitable industries and the resources of the petrol retailing segment is actually included as a “ deregulated” industries. However, This industry has