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Building on its major strategic gains in fighting COVID-19, China has made steady strides in economic development. The recently concluded Fifth Plenary Session of the 19th CPC Central Committee adopted recommendations for formulating China’s 14th five-year plan. The plenum underscored that China will finish building a moderately prosperous society in all respects within the set time frame, and will embark on a new journey next year toward fully building a modern socialist country. Based on a scientific analysis of the new stage of China’s development, we will stay committed to the new development philosophy, and actively foster a new development paradigm with domestic circulation as the mainstay and domestic and international circulations reinforcing each other. This new development paradigm is by no means a closed-door policy. Instead, it urges efforts on both the supply and demand sides to ensure unimpeded flow in production, distribution, exchange and consumption. While making the Chinese economy more resilient and competitive, it also aims to build a new system of open economy of higher standards. This will create more opportunities for the world to benefit from China’s high-quality development.

In the face of various complicated and serious challenges, humanity needs more than ever to strengthen cooperation to overcome difficulties, he noted.

The country will introduce a string of measures effectively addressing the most pressing problems of the elderly in using smart technologies by the end of the year to meet their basic needs. The plan also stipulates benefitting more senior citizens with smart services while improving traditional elderly services next year.

BEIJING, Dec. 22 (Xinhua) -- China will prolong the policies on inclusive loan repayment extension and the credit loan support program for smaller businesses, with a view to keep the main economic indicators within an appropriate range, maintain the continuity, stability and sustainability of the policies, spur vitality of market players and anchor market expectations, the State Council executive meeting chaired by Premier Li Keqiang decided on Monday.

Altogether, 31 sectors in Pudong New Area including e-commerce, convenience stores, supermarkets, restaurants and hotels will spearhead the integrated license reform.