China News Agency, Moscow, November 3rd. The Russian government agency newspaper "Russian News" published on the 2nd published a review article focusing on the "CPC Central Committee on the Establishment of National Economic and Social Development No. The Fourteen Five-Year Plans and the Proposals for the 2035-Year Long-Term Goals pointed out that the Fourteenth Five-Year Plan is a milestone and helps prevent China’s economy from falling into the “middle income trap”.

　　The article said that the "14th Five-Year Plan" is a milestone.

By the end of this year, China's GDP will exceed one trillion yuan, achieving the goal of building a well-off society in all respects and alleviating poverty.

The ship of the Chinese economy will sail into new waters and meet new challenges.

At this time, it is of great significance to study and formulate the "14th Five-Year Plan", which aims to maintain China's sustained economic growth and avoid falling into the "middle income trap", while reducing new global market risks such as the global economic depression caused by the new crown virus epidemic and the prevalence of protectionism.

　　The article mentioned that the new plan is implemented on the basis of the concept of dual cycles.

This plenary session has emphasized that China will "pursue a mutually beneficial and win-win opening strategy and develop a higher-level open economy."

Wang Tao, chief China economist at UBS, pointed out that internal circulation aims to increase the policy support for China's development of domestic demand.

China will continue to promote urbanization, increase investment in infrastructure, support SMEs to absorb employment, and improve the social security system.

It is estimated that by 2025, China's urbanization rate will reach 65.5%, and the newly added rural migrant population will exceed 80 million.

　　The article stated that an important starting point for the layout of the internal loop is to increase investment in scientific and technological research and development, so that China can achieve technological independence as soon as possible, and resolve the risks that may be caused by the "technical decoupling" of the United States.

From the perspective of medium-term development, the lack of advanced foreign technology and equipment will slow down China's economic growth by 0.5%. For this reason, China should increase financial support for scientific research and innovation.

The Fifth Plenary Session of the 19th Central Committee of the Communist Party of China proposed to adhere to the core position of innovation in the overall situation of China's modernization drive, and to take scientific and technological self-reliance as a strategic support for national development.

　　The article said that the "14th Five-Year Plan" also emphasizes ecological protection, vigorously promotes green development, and sets goals for environmental protection.

This year, China pledged to take measures to strive to reach a peak in carbon dioxide emissions before 2030 and to achieve carbon neutrality by 2060.

The "14th Five-Year Plan" period will be an important stage for China to fulfill this promise.

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