Weekly policy snapshot of Chinese economy

China’s policymakers have rolled out a raft of measures over the past week to boost economic growth and enhance opening up.

The following are the latest policy moves during the period: — The State Council, China’s cabinet, has released a guideline to accelerate the development of a green and low-carbon circular economic development system.

The guideline urges efforts to firmly implement the new development philosophy, boost efficiency in the use of resources, strengthen protection of the ecological environment, and effectively control greenhouse gas emissions.

— China has unveiled plans to build the country’s strength in the transport sector over the next 15 years, setting long-term goals for the industry, with the aim of developing a modern, high-quality and comprehensive national transport network.

By 2035, the country’s transport network should be convenient, cost-effective, green, intelligent and safe, according to the guidelines jointly released by the Central Committee of the Communist Party of China and the State Council.

By the middle of the century, a modern, high-quality and comprehensive national transport network will be built in an all-round way, with a world-class transport infrastructure system, according to the guidelines.

— China unveiled a new government body for the promotion of rural vitalization on Thursday as the world’s most populous country declared an end to absolute poverty, shifting its policy focus to further boosting rural areas.

The new national administration for rural vitalization is the successor to the State Council Leading Group Office of Poverty Alleviation and Development, which focused on overseeing China’s poverty alleviation efforts.

The debut of the new administration came after China’s announcement of “complete victory” in eradicating absolute poverty, marking the transition of the country’s policy priority from poverty alleviation to comprehensively promoting rural vitalization.

— China has announced new targets for tackling air pollution over the next five years.

The country vowed to reduce the average PM2.5 density by 10 percent in 337 major cities between 2021 and 2025 compared with that of the previous five years. The 337 cities should also reach the new target of enjoying good-quality air for 87.5 percent of the period.

— China’s Ministry of Agriculture and Rural Affairs unveiled guidelines on the country’s rural work for 2021 on Thursday, stressing efforts to push rural vitalization and accelerate the modernization of agriculture and rural areas.

The guidelines outlined 34 specific tasks to be achieved this year, covering areas including ensuring agricultural supply and enhancing the sector’s technological strength.

Source: Bangladesh Sangbad Sangstha (BSS)